Horizon Pharma PLC (HZNP) Upgraded to Hold by Zacks Investment Research
Horizon Pharma PLC (NASDAQ:HZNP) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a report issued on Tuesday.
According to Zacks, “Horizon’s results from the primary care business units was much below expectations in the first quarter due to the implementation of a new commercial model where the company is contracting with pharmacy benefit managers and payers to help patients obtain access to its medicines. The company plans to overcome this underperformance by reducing certain costs in the primary care business unit in order to align its cost structure with the lower- than-expected sales. Due to the divestiture of Procysbi, the company now expects sales in 2017 to come around $985 million to $1.020 billion. On a positive note, Horizon is significantly increasing investments in one its key drugs, Krystexxa. Shares of the company have underperformed the Zacks classified industry.”
A number of other analysts also recently issued reports on the company. BidaskClub raised Horizon Pharma PLC from a “hold” rating to a “buy” rating in a research report on Saturday, June 24th. Cantor Fitzgerald assumed coverage on Horizon Pharma PLC in a research report on Friday, June 16th. They issued an “overweight” rating and a $13.00 target price for the company. ValuEngine downgraded Horizon Pharma PLC from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Citigroup Inc. dropped their target price on Horizon Pharma PLC from $20.00 to $13.00 and set a “buy” rating for the company in a research report 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 report on Tuesday, May 9th. Four analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $20.77.
Horizon Pharma PLC (HZNP) traded up 2.77% on Tuesday, hitting $12.62. 4,273,528 shares of the stock were exchanged. The stock’s 50 day moving average price is $10.83 and its 200 day moving average price is $14.48. The firm’s market cap is $2.05 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 issued its quarterly earnings data on Monday, May 8th. The biopharmaceutical company reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by $0.04. The business had revenue of $220.90 million for the quarter, compared to analyst estimates of $248.71 million. Horizon Pharma PLC had a positive return on equity of 21.51% and a negative net margin of 21.26%. The firm’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.34 earnings per share. Equities research analysts forecast that Horizon Pharma PLC will post $0.84 earnings per share for the current year.
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In other Horizon Pharma PLC news, Director Michael G. Grey bought 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 10th. The stock was purchased at an average price of $9.48 per share, for a total transaction of $94,800.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 3.20% of the company’s stock.
A number of large investors have recently bought and sold shares of the company. Profund Advisors LLC boosted its stake in Horizon Pharma PLC by 0.8% in the first quarter. Profund Advisors LLC now owns 13,508 shares of the biopharmaceutical company’s stock valued at $200,000 after buying an additional 112 shares during the last quarter. First Mercantile Trust Co. boosted its stake in 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 during the last quarter. US Bancorp DE boosted its stake in 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 during the last quarter. Prudential Financial Inc. boosted its stake in Horizon Pharma PLC by 2.6% in the first quarter. Prudential Financial Inc. now owns 16,680 shares of the biopharmaceutical company’s stock valued at $247,000 after buying an additional 420 shares during the last quarter. Finally, First Dallas Securities Inc. boosted its stake in Horizon Pharma PLC by 9.4% in the first quarter. First Dallas Securities Inc. now owns 26,710 shares of the biopharmaceutical company’s stock valued at $395,000 after buying an additional 2,300 shares during the last quarter. Hedge funds and other institutional investors own 83.70% 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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