Horizon Pharma PLC (HZNP) Raised 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 note issued on Friday.
According to Zacks, “Horizon’s second-quarter results were impressive with the company beating on both the top and bottom line estimates. Moreover, the increase in sales guidance for 2017 was encouraging as well. However, revenues from primary care business units declined due to the implementation of a new commercial model where the company is contracting with pharmacy benefit managers and payers to help patients obtain access to its medicines. Moreover, in Jun 2017, Horizon Pharma sold the marketing rights for Procysbi and Quinsair in the Europe, the Middle East and Africa regions to Chiesi Farmaceutici S.p.A. as the company focuses on higher-return businesses. Shares of the company have underperformed the industry. With the company’s efforts to expand Actimmune’s label suffered a setback, focus will be on Krystexxa’s performance. Stiff competition for drugs will also impact sales.”
HZNP has been the subject of a number of other reports. Piper Jaffray Companies set a $18.00 price objective on Horizon Pharma PLC and gave the stock a “buy” rating in a report on Monday. Cowen and Company set a $20.00 price objective on Horizon Pharma PLC and gave the stock an “outperform” rating in a report on Tuesday, May 9th. BidaskClub lowered Horizon Pharma PLC from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Mizuho lowered Horizon Pharma PLC from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $22.00 to $10.00 in a report on Tuesday, May 9th. Finally, Jefferies Group LLC set a $14.00 price objective on Horizon Pharma PLC and gave the stock a “buy” rating in a report on Tuesday, May 9th. Five investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $19.46.
Horizon Pharma PLC (NASDAQ:HZNP) traded up 1.21% on Friday, hitting $11.68. The stock had a trading volume of 2,786,714 shares. The stock’s market capitalization is $1.91 billion. The company has a 50-day moving average price of $12.44 and a 200-day moving average price of $13.69. Horizon Pharma PLC has a 52 week low of $9.45 and a 52 week high of $23.44.
Horizon Pharma PLC (NASDAQ:HZNP) last issued its quarterly earnings data on Monday, August 7th. The biopharmaceutical company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.29. The firm had revenue of $289.51 million during the quarter, compared to analyst estimates 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 company’s revenue for the quarter was up 12.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.56 EPS. Equities research analysts anticipate that Horizon Pharma PLC will post $1.07 earnings per share for the current fiscal year.
Horizon Pharma PLC declared that its board has approved a stock repurchase plan on Monday, May 8th that permits the company to repurchase 1,000% of outstanding shares. This repurchase authorization permits the biopharmaceutical company to buy shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its shares are undervalued.
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A number of institutional investors have recently bought and sold shares of HZNP. Profund Advisors LLC increased its position in 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 during the last quarter. First Mercantile Trust Co. increased its position in Horizon Pharma PLC by 2.7% in the first quarter. First Mercantile Trust Co. now owns 11,770 shares of the biopharmaceutical company’s stock valued at $174,000 after buying an additional 310 shares during the last quarter. US Bancorp DE increased 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 buying an additional 368 shares during the last quarter. Prudential Financial Inc. increased its position in Horizon Pharma PLC by 2.6% in the first quarter. Prudential Financial Inc. now owns 16,680 shares of the biopharmaceutical company’s stock valued at $247,000 after buying an additional 420 shares during the last quarter. Finally, Sheaff Brock Investment Advisors LLC increased its position in Horizon Pharma PLC by 5.0% in the second quarter. Sheaff Brock Investment Advisors LLC now owns 10,500 shares of the biopharmaceutical company’s stock valued at $125,000 after buying an additional 500 shares during the last quarter. Institutional investors and hedge funds own 82.95% of the company’s stock.
Horizon Pharma PLC Company Profile
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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