Horizon Pharma PLC (HZNP) Position Cut by Hodges Capital Management Inc.
Hodges Capital Management Inc. cut its stake in shares of Horizon Pharma PLC (NASDAQ:HZNP) by 97.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 69,606 shares of the biopharmaceutical company’s stock after selling 2,339,790 shares during the period. Hodges Capital Management Inc.’s holdings in Horizon Pharma PLC were worth $826,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of the stock. Bank of Montreal Can increased its stake in shares of Horizon Pharma PLC by 16.3% in the second quarter. Bank of Montreal Can now owns 9,809 shares of the biopharmaceutical company’s stock valued at $116,000 after buying an additional 1,378 shares during the period. Searle & CO. purchased a new stake in shares of Horizon Pharma PLC during the first quarter valued at about $781,000. Sheaff Brock Investment Advisors LLC purchased a new stake in shares of Horizon Pharma PLC during the first quarter valued at about $148,000. Massachusetts Financial Services Co. MA purchased a new stake in shares of Horizon Pharma PLC during the first quarter valued at about $151,000. Finally, Stevens Capital Management LP purchased a new stake in shares of Horizon Pharma PLC during the first quarter valued at about $173,000. Institutional investors and hedge funds own 82.95% of the company’s stock.
Shares of Horizon Pharma PLC (NASDAQ HZNP) opened at 11.94 on Thursday. The firm’s 50-day moving average is $12.44 and its 200 day moving average is $13.70. Horizon Pharma PLC has a 12 month low of $9.45 and a 12 month high of $23.44. The firm’s market capitalization is $1.94 billion.
Horizon Pharma PLC (NASDAQ:HZNP) last issued its quarterly earnings results on Monday, August 7th. The biopharmaceutical company reported $0.41 EPS for the quarter, topping the Zacks’ consensus estimate of $0.12 by $0.29. The firm had revenue of $289.51 million for the quarter, compared to analyst estimates of $237.01 million. Horizon Pharma PLC had a negative net margin of 42.40% and a positive return on equity of 22.85%. The business’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.56 EPS. On average, equities research analysts anticipate that Horizon Pharma PLC will post $1.03 EPS for the current year.
Horizon Pharma PLC declared that its Board of Directors has approved a share buyback program on Monday, May 8th that authorizes the company to repurchase 1,000% of outstanding shares. This repurchase authorization authorizes the biopharmaceutical company to buy shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.
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Several brokerages recently issued reports on HZNP. UBS AG set a $16.00 target price on shares of Horizon Pharma PLC and gave the company a “buy” rating in a research note on Wednesday, June 7th. BMO Capital Markets reiterated an “outperform” rating and issued a $18.00 target price (up from $17.00) on shares of Horizon Pharma PLC in a research note on Thursday. Mizuho reiterated a “neutral” rating and issued a $9.00 target price (down from $10.00) on shares of Horizon Pharma PLC in a research note on Wednesday. Cantor Fitzgerald reiterated an “overweight” rating and issued a $17.00 target price (up from $13.00) on shares of Horizon Pharma PLC in a research note on Wednesday. Finally, BidaskClub downgraded shares of Horizon Pharma PLC from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Five investment 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 company’s stock. The stock has an average rating of “Buy” and a consensus price target of $19.86.
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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