Horizon Pharma PLC (HZNP) Lifted to “Hold” at Zacks Investment Research
Horizon Pharma PLC (NASDAQ:HZNP) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Friday.
According to Zacks, “Horizon’s growth-by-acquisition strategy, through which it actively pursues deals to expand and diversify its portfolio, is encouraging. The Raptor Pharma acquisition to strengthen its rare disease business is impressive. Moreover, the Hyperion and Crealta acquisitions bode well. However, the company’s efforts to expand Actimmune’s label suffered a developmental setback. Actimmune failed in a late-stage Friedreich's ataxia study, which could have given its sales a much-needed boost. Horizon is also involved in patent litigations with quite a few companies. Also, Horizon’s marketed products face intense competition. Pipeline setbacks, competitive pressures, concerns related to the ongoing litigations and focus on drug pricing remain material headwinds. The company has a negative record of earnings surprise in the last four trailing quarters while the estimates are stable ahead of Q4 results.”
Several other equities research analysts also recently weighed in on HZNP. Mizuho decreased their price objective on Horizon Pharma PLC from $33.00 to $29.00 and set a “buy” rating for the company in a report on Monday, October 31st. Citigroup Inc. raised Horizon Pharma PLC from a “neutral” rating to a “buy” rating in a report on Monday, November 28th. BMO Capital Markets reissued an “outperform” rating and issued a $29.00 price objective on shares of Horizon Pharma PLC in a report on Monday, November 28th. Finally, Jefferies Group LLC set a $26.00 price objective on Horizon Pharma PLC and gave the company a “buy” rating in a report on Thursday, December 8th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Horizon Pharma PLC presently has an average rating of “Buy” and a consensus price target of $28.77.
Shares of Horizon Pharma PLC (NASDAQ:HZNP) opened at 17.02 on Friday. Horizon Pharma PLC has a 52 week low of $13.05 and a 52 week high of $23.44. The firm’s 50-day moving average is $16.78 and its 200 day moving average is $18.40. The firm’s market cap is $2.74 billion.
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Large investors have recently added to or reduced their stakes in the company. American Century Companies Inc. boosted its stake in Horizon Pharma PLC by 19.4% in the second quarter. American Century Companies Inc. now owns 238,054 shares of the biopharmaceutical company’s stock valued at $3,921,000 after buying an additional 38,638 shares during the period. Dimensional Fund Advisors LP boosted its stake in Horizon Pharma PLC by 157.2% in the second quarter. Dimensional Fund Advisors LP now owns 1,458,520 shares of the biopharmaceutical company’s stock valued at $24,026,000 after buying an additional 891,466 shares during the period. BlackRock Advisors LLC boosted its stake in Horizon Pharma PLC by 628.9% in the second quarter. BlackRock Advisors LLC now owns 154,413 shares of the biopharmaceutical company’s stock valued at $2,543,000 after buying an additional 133,229 shares during the period. Lakeview Capital Partners LLC boosted its stake in Horizon Pharma PLC by 21.5% in the second quarter. Lakeview Capital Partners LLC now owns 33,348 shares of the biopharmaceutical company’s stock valued at $549,000 after buying an additional 5,906 shares during the period. Finally, American National Insurance Co. TX boosted its stake in Horizon Pharma PLC by 10.8% in the second quarter. American National Insurance Co. TX now owns 152,550 shares of the biopharmaceutical company’s stock valued at $2,512,000 after buying an additional 14,900 shares during the period. Institutional investors and hedge funds own 88.09% of the company’s stock.
About Horizon Pharma PLC
Horizon Pharma plc, formerly Vidara Therapeutics International Public Limited Company, is a biopharmaceutical company. The Company is focused on identifying, developing, acquiring or in-licensing and commercializing differentiated products. It markets approximately nine medicines through its orphan, primary care and rheumatology business units.
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