Horizon Therapeutics (NASDAQ:HZNP) had its price target raised by equities research analysts at Cantor Fitzgerald from $32.00 to $36.00 in a note issued to investors on Friday, The Fly reports. The brokerage currently has an “overweight” rating on the biopharmaceutical company’s stock. Cantor Fitzgerald’s price objective would suggest a potential upside of 22.03% from the stock’s current price.
Other analysts have also recently issued reports about the company. Piper Jaffray Companies set a $33.00 target price on Horizon Therapeutics and gave the company a “buy” rating in a research report on Monday, August 26th. BMO Capital Markets raised Horizon Therapeutics from a “market perform” rating to an “outperform” rating and increased their price target for the company from $29.00 to $36.00 in a research note on Wednesday, August 14th. Cowen set a $35.00 price target on Horizon Therapeutics and gave the company a “buy” rating in a research note on Wednesday, August 7th. ValuEngine lowered Horizon Therapeutics from a “buy” rating to a “hold” rating in a research note on Thursday, September 5th. Finally, Bank of America assumed coverage on Horizon Therapeutics in a research note on Thursday, September 26th. They set a “buy” rating and a $34.00 price target for the company. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $33.77.
Shares of NASDAQ HZNP traded down $0.15 on Friday, hitting $29.50. The company had a trading volume of 1,544,700 shares, compared to its average volume of 1,697,509. The company has a quick ratio of 2.12, a current ratio of 2.20 and a debt-to-equity ratio of 0.90. The business has a 50 day moving average of $27.81 and a two-hundred day moving average of $25.97. The firm has a market capitalization of $5.57 billion, a P/E ratio of 16.12, a PEG ratio of 1.76 and a beta of 0.83. Horizon Therapeutics has a 12-month low of $17.94 and a 12-month high of $31.25.
In other news, CEO Timothy P. Walbert sold 320,174 shares of the firm’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $28.02, for a total transaction of $8,971,275.48. Following the completion of the sale, the chief executive officer now directly owns 892,483 shares of the company’s stock, valued at approximately $25,007,373.66. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Paul W. Hoelscher sold 1,359 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $28.00, for a total value of $38,052.00. Following the sale, the chief financial officer now directly owns 159,310 shares of the company’s stock, valued at $4,460,680. The disclosure for this sale can be found here. Over the last three months, insiders have sold 576,405 shares of company stock valued at $16,126,099. Corporate insiders own 4.10% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in HZNP. New York State Teachers Retirement System purchased a new stake in shares of Horizon Therapeutics during the second quarter worth $55,000. Quadrant Capital Group LLC bought a new position in Horizon Therapeutics during the third quarter valued at about $66,000. Steward Partners Investment Advisory LLC bought a new position in Horizon Therapeutics during the second quarter valued at about $76,000. FNY Investment Advisers LLC bought a new position in Horizon Therapeutics during the second quarter valued at about $80,000. Finally, Tower Research Capital LLC TRC raised its holdings in Horizon Therapeutics by 384.1% during the second quarter. Tower Research Capital LLC TRC now owns 3,389 shares of the biopharmaceutical company’s stock valued at $82,000 after buying an additional 2,689 shares in the last quarter. 86.70% of the stock is owned by institutional investors and hedge funds.
Horizon Therapeutics Company Profile
Horizon Therapeutics Public Limited Company, a biopharmaceutical company, focuses on researching, developing, and commercializing medicines that address unmet treatment needs for rare and rheumatic diseases in the United States and internationally. Its orphan and rheumatology marketed medicines include KRYSTEXXA, a medicine for the treatment of uncontrolled gout; RAVICTI for use as a nitrogen-binding agent for chronic management of adult and pediatric patients; PROCYSBI for nephropathic cystinosis, a rare and life-threatening metabolic disorder; ACTIMMUNE for chronic granulomatous disease; RAYOS for the treatment of multiple conditions, rheumatoid arthritis; BUPHENYL tablets for oral administration and BUPHENYL powder for oral, nasogastric, or gastrostomy tube administration; and QUINSAIR, a formulation of the antibiotic drug levofloxacin for the management of chronic pulmonary infections due to Pseudomonas aeruginosa in adult patients with cystic fibrosis.
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