ValuEngine Downgrades Horizon Pharma PLC (HZNP) to Hold
Horizon Pharma PLC (NASDAQ:HZNP) was downgraded by research analysts at ValuEngine from a “buy” rating to a “hold” rating in a research report issued on Friday.
Several other research firms have also commented on HZNP. Piper Jaffray Companies set a $18.00 price objective on Horizon Pharma PLC and gave the company a “buy” rating in a research report on Monday, August 7th. UBS AG set a $16.00 price objective on Horizon Pharma PLC and gave the company a “buy” rating in a research report on Tuesday, August 8th. Cantor Fitzgerald set a $17.00 price objective on Horizon Pharma PLC and gave the company a “buy” rating in a research report on Thursday, August 17th. Mizuho reissued a “hold” rating and issued a $12.00 price objective (up from $9.00) on shares of Horizon Pharma PLC in a research report on Monday. Finally, Jefferies Group LLC reissued a “buy” rating and issued a $14.00 price objective on shares of Horizon Pharma PLC in a research report on Friday, July 14th. Five research 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. The stock currently has an average rating of “Buy” and a consensus target price of $19.69.
Horizon Pharma PLC (NASDAQ HZNP) traded down 0.44% on Friday, reaching $13.62. The company had a trading volume of 2,268,923 shares. The firm has a 50-day moving average of $12.78 and a 200-day moving average of $13.29. The stock’s market capitalization is $2.22 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 released its quarterly earnings data on Monday, August 7th. The biopharmaceutical company reported $0.41 EPS for the quarter, beating the 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 analyst estimates of $237.01 million. During the same period last year, the company 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 expect that Horizon Pharma PLC will post $1.09 earnings per share for the current fiscal year.
Horizon Pharma PLC declared that its board has approved a share buyback program on Monday, May 8th that permits the company to repurchase 1,000% of shares. This repurchase authorization permits the biopharmaceutical company to repurchase shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.
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Institutional investors have recently bought and sold shares of the company. Bank of Montreal Can increased its position in 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 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 worth $125,000 after buying an additional 500 shares during the period. Family Management Corp purchased a new position in Horizon Pharma PLC during the second quarter worth approximately $131,000. Ballentine Partners LLC purchased a new position in Horizon Pharma PLC during the second quarter worth approximately $139,000. Finally, Massachusetts Financial Services Co. MA purchased a new position in Horizon Pharma PLC during the first quarter worth approximately $151,000. Institutional investors and hedge funds 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.
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