Brokers Set Expectations for Horizon Therapeutics PLC’s FY2022 Earnings (NASDAQ:HZNP)
Horizon Therapeutics PLC (NASDAQ:HZNP) – Investment analysts at Piper Sandler reduced their FY2022 earnings estimates for Horizon Therapeutics in a research report issued to clients and investors on Wednesday, June 24th. Piper Sandler analyst D. Amsellem now expects that the biopharmaceutical company will earn $4.38 per share for the year, down from their prior estimate of $4.90. Piper Sandler currently has a “Buy” rating and a $61.00 price objective on the stock. Piper Sandler also issued estimates for Horizon Therapeutics’ FY2023 earnings at $5.07 EPS.
A number of other research analysts have also commented on HZNP. Stifel Nicolaus upped their price target on Horizon Therapeutics from $50.00 to $60.00 in a research report on Friday, May 29th. Bank of America upped their price target on Horizon Therapeutics from $52.00 to $57.00 and gave the company a “buy” rating in a research report on Tuesday, May 26th. Morgan Stanley upped their price target on Horizon Therapeutics from $39.00 to $50.00 and gave the company an “overweight” rating in a research report on Friday, May 8th. BidaskClub raised Horizon Therapeutics from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, June 24th. Finally, Jefferies Financial Group upped their price target on Horizon Therapeutics from $47.00 to $51.00 and gave the company a “buy” rating in a research report on Tuesday, April 28th. Three investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $45.69.
Horizon Therapeutics (NASDAQ:HZNP) last released its earnings results on Wednesday, May 6th. The biopharmaceutical company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.19. Horizon Therapeutics had a return on equity of 22.52% and a net margin of 43.06%. The company had revenue of $355.90 million during the quarter, compared to analyst estimates of $287.88 million. During the same quarter in the previous year, the company posted $0.30 EPS. Horizon Therapeutics’s revenue for the quarter was up 26.9% on a year-over-year basis.
In related news, CFO Paul W. Hoelscher sold 104,994 shares of the company’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $38.00, for a total value of $3,989,772.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Michael G. Grey sold 1,755 shares of the company’s stock in a transaction that occurred on Thursday, June 25th. The stock was sold at an average price of $55.00, for a total value of $96,525.00. Following the completion of the sale, the director now owns 1,755 shares in the company, valued at approximately $96,525. The disclosure for this sale can be found here. Insiders have sold a total of 407,750 shares of company stock worth $17,110,328 in the last quarter. Company insiders own 4.30% of the company’s stock.
Several institutional investors have recently bought and sold shares of HZNP. Point72 Hong Kong Ltd purchased a new stake in shares of Horizon Therapeutics in the 4th quarter worth approximately $37,000. Harvest Fund Management Co. Ltd purchased a new stake in Horizon Therapeutics during the 1st quarter valued at $105,000. Fred Alger Management LLC purchased a new stake in Horizon Therapeutics during the 4th quarter valued at $109,000. Tower Research Capital LLC TRC boosted its stake in Horizon Therapeutics by 642.1% during the 1st quarter. Tower Research Capital LLC TRC now owns 3,874 shares of the biopharmaceutical company’s stock valued at $114,000 after purchasing an additional 3,352 shares during the last quarter. Finally, Penserra Capital Management LLC purchased a new stake in Horizon Therapeutics during the 4th quarter valued at $155,000. Institutional investors own 90.08% of the company’s stock.
About Horizon Therapeutics
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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