Horizon Pharma PLC (NASDAQ:HZNP)‘s stock had its “overweight” rating reaffirmed by equities research analysts at Cantor Fitzgerald in a report released on Wednesday. They presently have a $17.00 target price on the biopharmaceutical company’s stock, up from their previous target price of $13.00. Cantor Fitzgerald’s target price points to a potential upside of 47.31% from the stock’s previous close. Cantor Fitzgerald also issued estimates for Horizon Pharma PLC’s FY2018 earnings at $1.09 EPS.
A number of other equities research analysts have also recently commented on HZNP. UBS Group AG set a $16.00 price objective on Horizon Pharma PLC and gave the company a “buy” rating in a research note on Wednesday, June 7th. Mizuho reaffirmed a “neutral” rating and set a $9.00 target price (down previously from $10.00) on shares of Horizon Pharma PLC in a research report on Wednesday. BidaskClub cut Horizon Pharma PLC from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. BMO Capital Markets reaffirmed a “buy” rating and set a $17.00 target price on shares of Horizon Pharma PLC in a research report on Friday, July 28th. Finally, Piper Jaffray Companies set a $18.00 target price on Horizon Pharma PLC and gave the company a “buy” rating in a research report on Monday. Five equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $19.46.
Shares of Horizon Pharma PLC (NASDAQ HZNP) opened at 11.54 on Wednesday. The stock’s 50 day moving average price is $12.44 and its 200-day moving average price is $13.69. The company’s market cap is $1.89 billion. 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 announced its quarterly earnings data on Monday, August 7th. The biopharmaceutical company reported $0.41 EPS for the quarter, beating 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 firm had revenue of $289.51 million during the quarter, compared to analysts’ expectations of $237.01 million. During the same quarter last year, the firm posted $0.56 earnings per share. The company’s revenue for the quarter was up 12.5% compared to the same quarter last year. Analysts expect that Horizon Pharma PLC will post $1.07 EPS for the current year.
Horizon Pharma PLC declared that its board has authorized a stock 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. Shares repurchase programs are typically an indication that the company’s management believes its shares are undervalued.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of Montreal Can boosted 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 valued at $116,000 after buying an additional 1,378 shares in the last quarter. Sheaff Brock Investment Advisors LLC boosted 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 in the last quarter. Ballentine Partners LLC acquired a new position in Horizon Pharma PLC during the second quarter valued at $139,000. Massachusetts Financial Services Co. MA acquired a new position in Horizon Pharma PLC during the first quarter valued at $151,000. Finally, Teacher Retirement System of Texas boosted its position in Horizon Pharma PLC by 12.8% in the second quarter. Teacher Retirement System of Texas now owns 12,941 shares of the biopharmaceutical company’s stock valued at $154,000 after buying an additional 1,466 shares in the last quarter. 82.95% of the stock is currently owned by institutional investors and hedge funds.
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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