Horizon Pharma PLC (HZNP) Short Interest Update
Horizon Pharma PLC (NASDAQ:HZNP) saw a significant increase in short interest during the month of August. As of August 15th, there was short interest totalling 21,291,050 shares, an increase of 13.2% from the July 31st total of 18,807,834 shares. Based on an average daily trading volume, of 5,533,120 shares, the days-to-cover ratio is presently 3.8 days. Approximately 13.2% of the shares of the company are sold short.
Shares of Horizon Pharma PLC (NASDAQ HZNP) opened at 13.43 on Tuesday. The firm has a 50-day moving average price of $12.66 and a 200-day moving average price of $13.40. The company’s market capitalization is $2.19 billion. Horizon Pharma PLC has a 12 month low of $9.45 and a 12 month high of $21.98.
Horizon Pharma PLC (NASDAQ:HZNP) last issued its quarterly earnings data on Monday, August 7th. The biopharmaceutical company reported $0.41 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.12 by $0.29. Horizon Pharma PLC had a positive return on equity of 22.85% and a negative net margin of 42.40%. The company had revenue of $289.51 million for the quarter, compared to the consensus estimate of $237.01 million. During the same quarter last year, the business posted $0.56 earnings per share. The firm’s revenue was up 12.5% compared to the same quarter last year. On average, equities research analysts predict that Horizon Pharma PLC will post $1.08 EPS for the current year.
Horizon Pharma PLC announced that its Board of Directors has initiated a share buyback program on Monday, May 8th that allows the company to repurchase 1,000% of outstanding shares. This repurchase authorization allows the biopharmaceutical company to buy shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its stock is undervalued.
A number of brokerages have recently commented on HZNP. Piper Jaffray Companies set a $18.00 price target on Horizon Pharma PLC and gave the stock a “buy” rating in a report on Monday, August 7th. Cowen and Company set a $20.00 price target 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 research note on Monday, July 31st. Mizuho lowered Horizon Pharma PLC from a “buy” rating to a “neutral” rating and cut their target price for the company from $22.00 to $10.00 in a research note on Tuesday, May 9th. Finally, Jefferies Group LLC set a $14.00 target price on Horizon Pharma PLC and gave the company a “buy” rating in a research note on Tuesday, May 9th. Five research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. Horizon Pharma PLC presently has a consensus rating of “Buy” and a consensus price target of $19.69.
Large investors have recently modified their holdings of the company. 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 worth $116,000 after buying an additional 1,378 shares during the period. Sheaff Brock Investment Advisors LLC acquired a new stake in shares of Horizon Pharma PLC during the first quarter worth about $148,000. Searle & CO. acquired a new stake in shares of Horizon Pharma PLC during the first quarter worth about $781,000. Massachusetts Financial Services Co. MA acquired a new stake in shares of Horizon Pharma PLC during the first quarter worth about $151,000. Finally, Ballentine Partners LLC acquired a new stake in shares of Horizon Pharma PLC during the second quarter worth about $139,000. Institutional investors own 82.30% 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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