Goldman Sachs Group, Inc. (The) Initiates Coverage on Horizon Pharma PLC (HZNP)
Equities research analysts at Goldman Sachs Group, Inc. (The) assumed coverage on shares of Horizon Pharma PLC (NASDAQ:HZNP) in a note issued to investors on Thursday. The firm set a “buy” rating and a $16.00 price target on the biopharmaceutical company’s stock. Goldman Sachs Group, Inc. (The)’s target price would indicate a potential upside of 26.18% from the stock’s previous close.
Other 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 stock a “buy” rating in a report on Wednesday, June 7th. 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, August 9th. Zacks Investment Research upgraded Horizon Pharma PLC from a “sell” rating to a “hold” rating in a report on Friday, August 11th. BMO Capital Markets restated a “buy” rating and set a $17.00 target price on shares of Horizon Pharma PLC in a report on Friday, July 28th. Finally, Piper Jaffray Companies set a $18.00 target price on Horizon Pharma PLC and gave the stock a “buy” rating in a report on Monday, August 7th. Five research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. Horizon Pharma PLC currently has a consensus rating of “Buy” and an average price target of $18.00.
Shares of Horizon Pharma PLC (HZNP) traded up 1.12% during trading on Thursday, reaching $12.68. The company had a trading volume of 2,645,825 shares. The company’s market capitalization is $2.07 billion. Horizon Pharma PLC has a 52 week low of $9.45 and a 52 week high of $21.98. The stock’s 50-day moving average price is $12.81 and its 200-day moving average price is $12.94.
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, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.29. The business had revenue of $289.51 million for the quarter, compared to analysts’ expectations of $237.01 million. Horizon Pharma PLC had a positive return on equity of 22.85% and a negative net margin of 42.40%. The business’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.56 EPS. On average, equities analysts expect that Horizon Pharma PLC will post $1.07 EPS for the current fiscal year.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Morgan Stanley lifted its holdings in Horizon Pharma PLC by 59.7% in the first quarter. Morgan Stanley now owns 1,422,666 shares of the biopharmaceutical company’s stock valued at $21,027,000 after acquiring an additional 531,882 shares during the last quarter. Neuberger Berman Group LLC purchased a new stake in Horizon Pharma PLC in the second quarter valued at approximately $7,147,000. Russell Investments Group Ltd. raised its position in Horizon Pharma PLC by 82.8% in the second quarter. Russell Investments Group Ltd. now owns 153,668 shares of the biopharmaceutical company’s stock valued at $1,824,000 after purchasing an additional 69,626 shares during the period. US Bancorp DE raised its position in Horizon Pharma PLC by 1.2% in the first quarter. US Bancorp DE now owns 32,050 shares of the biopharmaceutical company’s stock valued at $473,000 after purchasing an additional 368 shares during the period. Finally, Wellington Management Group LLP purchased a new stake in Horizon Pharma PLC in the first quarter valued at approximately $730,000. Hedge funds and other institutional investors own 82.30% of the company’s stock.
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.
Receive News & Ratings for Horizon Pharma PLC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Horizon Pharma PLC and related companies with Analyst Ratings Network's FREE daily email newsletter.