Horizon Pharma PLC (NASDAQ:HZNP)‘s stock had its “outperform” rating restated by equities researchers at BMO Capital Markets in a research note issued on Thursday. They currently have a $18.00 price target on the biopharmaceutical company’s stock, up from their prior price target of $17.00. BMO Capital Markets’ price target suggests a potential upside of 49.01% from the company’s current price.
Several other research analysts have also commented on the company. Citigroup Inc. cut their price objective on Horizon Pharma PLC from $20.00 to $13.00 and set a “buy” rating on the stock in a research report on Tuesday, May 9th. Jefferies Group LLC set a $26.00 price objective on Horizon Pharma PLC and gave the company a “buy” rating in a research report on Wednesday, April 12th. BidaskClub raised Horizon Pharma PLC from a “hold” rating to a “buy” rating in a research report on Saturday, June 24th. Cantor Fitzgerald started coverage on Horizon Pharma PLC in a research report on Friday, June 16th. They set an “overweight” rating and a $13.00 target price on the stock. Finally, ValuEngine lowered Horizon Pharma PLC from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Five analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $19.46.
Shares of Horizon Pharma PLC (HZNP) opened at 12.08 on Thursday. The stock’s market cap is $1.97 billion. Horizon Pharma PLC has a one year low of $9.45 and a one year high of $23.44. The firm’s 50-day moving average price is $12.44 and its 200 day moving average price is $13.66.
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. Equities research analysts expect that Horizon Pharma PLC will post $1.07 EPS for the current fiscal year.
Horizon Pharma PLC announced that its Board of Directors has authorized a stock buyback plan 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. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.
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A number of hedge funds have recently made changes to their positions in HZNP. Morgan Stanley raised its stake in shares of 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 buying an additional 531,882 shares in the last quarter. US Bancorp DE raised its stake in shares of 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 in the last quarter. Graybill Bartz & Assoc Ltd. raised its stake in shares of Horizon Pharma PLC by 1.6% in the first quarter. Graybill Bartz & Assoc Ltd. now owns 165,260 shares of the biopharmaceutical company’s stock valued at $2,443,000 after buying an additional 2,620 shares in the last quarter. Sheaff Brock Investment Advisors LLC purchased a new stake in shares of Horizon Pharma PLC during the first quarter valued at $148,000. Finally, Wellington Management Group LLP purchased a new stake in shares of Horizon Pharma PLC during the first quarter valued at $730,000. 82.95% of the stock is owned by hedge funds and other institutional investors.
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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