BMO Capital Markets Reaffirms Outperform Rating for Horizon Pharma PLC (HZNP)
Horizon Pharma PLC (NASDAQ:HZNP)‘s stock had its “outperform” rating restated by stock analysts at BMO Capital Markets in a report released on Thursday. They presently have a $18.00 price objective on the biopharmaceutical company’s stock, up from their prior price objective of $17.00. BMO Capital Markets’ price objective suggests a potential upside of 50.75% from the stock’s current price.
Other equities research analysts have also recently issued reports about the company. UBS AG set a $16.00 target price on Horizon Pharma PLC and gave the company a “buy” rating in a report on Wednesday, June 7th. Mizuho restated a “neutral” rating and set a $9.00 target price (down from $10.00) on shares of Horizon Pharma PLC in a report on Wednesday. Cantor Fitzgerald restated an “overweight” rating and set a $17.00 target price (up from $13.00) on shares of Horizon Pharma PLC in a report on Wednesday. Piper Jaffray Companies set a $18.00 target price on Horizon Pharma PLC and gave the company a “buy” rating in a report on Monday. Finally, Citigroup Inc. dropped their target price on Horizon Pharma PLC from $20.00 to $13.00 and set a “buy” rating for the company in a report on Tuesday, May 9th. Five research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $19.86.
Horizon Pharma PLC (NASDAQ:HZNP) opened at 11.94 on Thursday. Horizon Pharma PLC has a 12 month low of $9.45 and a 12 month high of $23.44. The company’s market capitalization is $1.94 billion. The stock’s 50 day moving average price is $12.27 and its 200-day moving average price is $13.82.
Horizon Pharma PLC (NASDAQ:HZNP) last issued its earnings results on Monday, August 7th. The biopharmaceutical company reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.29. The company had revenue of $289.51 million during the quarter, compared to analysts’ expectations of $237.01 million. Horizon Pharma PLC had a positive return on equity of 21.74% and a negative net margin of 42.40%. Horizon Pharma PLC’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.56 EPS. On average, equities research analysts predict that Horizon Pharma PLC will post $1.03 EPS for the current fiscal year.
Horizon Pharma PLC declared that its board has authorized a share buyback plan on Monday, May 8th that authorizes the company to buyback 1,000% of shares. This buyback authorization authorizes the biopharmaceutical company to reacquire shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.
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A number of hedge funds and other institutional investors have recently bought and sold shares of HZNP. Teachers Advisors LLC increased its stake in shares of Horizon Pharma PLC by 3.3% in the fourth quarter. Teachers Advisors LLC now owns 892,711 shares of the biopharmaceutical company’s stock valued at $14,444,000 after buying an additional 28,363 shares in the last quarter. Creative Planning increased its stake in shares of Horizon Pharma PLC by 45.6% in the first quarter. Creative Planning now owns 122,502 shares of the biopharmaceutical company’s stock valued at $1,811,000 after buying an additional 38,354 shares in the last quarter. Graybill Bartz & Assoc Ltd. increased its stake in shares of Horizon Pharma PLC by 1.6% in the first quarter. Graybill Bartz & Assoc Ltd. now owns 165,260 shares of the biopharmaceutical company’s stock valued at $2,443,000 after buying an additional 2,620 shares in the last quarter. First Manhattan Co. acquired a new stake in shares of Horizon Pharma PLC during the first quarter valued at approximately $295,000. Finally, Profund Advisors LLC increased its stake in shares of Horizon Pharma PLC by 0.8% in the first quarter. Profund Advisors LLC now owns 13,508 shares of the biopharmaceutical company’s stock valued at $200,000 after buying an additional 112 shares in the last quarter. 82.95% of the stock is owned by institutional investors.
About Horizon Pharma PLC
Horizon Pharma Public Limited Company is a biopharmaceutical company. The Company is focused on identifying, developing, acquiring and commercializing differentiated and accessible medicines that address unmet medical needs. As of December 31, 2016, the Company marketed 11 medicines through its orphan, rheumatology and primary care business units.
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