Jefferies Group LLC reissued their buy rating on shares of Horizon Pharma PLC (NASDAQ:HZNP) in a report published on Friday. They currently have a $14.00 target price on the biopharmaceutical company’s stock.
Several other analysts have also issued reports on HZNP. Piper Jaffray Companies cut their price objective on Horizon Pharma PLC from $32.00 to $30.00 and set an overweight rating for the company in a report on Friday, March 24th. BMO Capital Markets reiterated a buy rating and set a $24.00 price objective on shares of Horizon Pharma PLC in a report on Wednesday, March 29th. Mizuho lowered Horizon Pharma PLC from a buy rating to a neutral rating and cut their price objective for the stock from $22.00 to $10.00 in a report on Tuesday, May 9th. 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. Finally, Stifel Nicolaus reiterated a buy rating and set a $20.00 price objective (down from $35.00) on shares of Horizon Pharma PLC in a report on Tuesday, May 9th. Four analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. Horizon Pharma PLC currently has an average rating of Buy and a consensus target price of $20.43.
Horizon Pharma PLC (NASDAQ:HZNP) traded down 1.69% during midday trading on Friday, reaching $12.80. The company’s stock had a trading volume of 3,166,706 shares. The stock’s 50-day moving average price is $10.83 and its 200-day moving average price is $14.48. 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 $2.08 billion.
Horizon Pharma PLC (NASDAQ:HZNP) last announced its quarterly earnings data on Monday, May 8th. The biopharmaceutical company reported $0.21 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.25 by $0.04. Horizon Pharma PLC had a positive return on equity of 21.51% and a negative net margin of 21.26%. The firm had revenue of $220.90 million for the quarter, compared to analysts’ expectations of $248.71 million. During the same quarter in the prior year, the business posted $0.34 earnings per share. Horizon Pharma PLC’s revenue was up 7.9% on a year-over-year basis. Analysts predict that Horizon Pharma PLC will post $0.84 EPS for the current year.
Horizon Pharma PLC announced that its Board of Directors has initiated a stock buyback plan on Monday, May 8th that allows the company to repurchase 1,000% of outstanding shares. This repurchase authorization allows the biopharmaceutical company to purchase shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its stock is undervalued.
In other Horizon Pharma PLC news, Director Michael G. Grey purchased 10,000 shares of the stock in a transaction dated Wednesday, May 10th. The shares were bought at an average cost of $9.48 per share, with a total value of $94,800.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 3.20% of the company’s stock.
Several large investors have 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 in the last quarter. Sheaff Brock Investment Advisors LLC acquired a new stake in shares of Horizon Pharma PLC during the first quarter valued at about $148,000. Massachusetts Financial Services Co. MA acquired a new stake in shares of Horizon Pharma PLC during the first quarter valued at about $151,000. Stevens Capital Management LP acquired a new stake in shares of Horizon Pharma PLC during the first quarter valued at about $173,000. Finally, First Mercantile Trust Co. increased its stake in shares of 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 in the last quarter. 84.12% of the stock is currently owned by institutional investors.
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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