Horizon Pharma PLC (NASDAQ:HZNP) Given a $18.00 Price Target by Piper Jaffray Companies Analysts
Horizon Pharma PLC (NASDAQ:HZNP) received a $18.00 price target from equities researchers at Piper Jaffray Companies in a research note issued on Monday. The firm currently has a “buy” rating on the biopharmaceutical company’s stock. Piper Jaffray Companies’ price objective points to a potential upside of 35.34% from the stock’s previous close.
HZNP has been the subject of several other research reports. Cantor Fitzgerald initiated coverage on shares of 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 cut shares of Horizon Pharma PLC from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. BMO Capital Markets restated a “buy” rating and issued a $17.00 target price (down previously from $24.00) on shares of Horizon Pharma PLC in a research report on Tuesday, May 9th. Jefferies Group LLC set a $26.00 target price on shares of Horizon Pharma PLC and gave the stock a “buy” rating in a research report on Wednesday, April 12th. Finally, Stifel Nicolaus restated a “buy” rating and issued a $20.00 target price (down previously from $35.00) on shares of Horizon Pharma PLC in a research report on Tuesday, May 9th. Five investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $19.57.
Shares of Horizon Pharma PLC (NASDAQ:HZNP) traded up 4.72% during midday trading on Monday, reaching $13.30. 15,397,088 shares of the company were exchanged. The company’s 50-day moving average price is $12.12 and its 200 day moving average price is $13.85. Horizon Pharma PLC has a 52-week low of $9.45 and a 52-week high of $23.44. The stock’s market capitalization is $2.16 billion.
Horizon Pharma PLC (NASDAQ:HZNP) last posted its earnings results on Monday, August 7th. The biopharmaceutical company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.12 by $0.29. Horizon Pharma PLC had a negative net margin of 21.26% and a positive return on equity of 21.51%. The firm had revenue of $289.51 million during the quarter, compared to analysts’ expectations of $237.01 million. During the same quarter in the prior year, the firm earned $0.56 EPS. Horizon Pharma PLC’s quarterly revenue was up 12.5% on a year-over-year basis. On average, equities analysts predict that Horizon Pharma PLC will post $0.82 earnings per share for the current year.
Horizon Pharma PLC announced that its Board of Directors has authorized a share repurchase program on Monday, May 8th that authorizes the company to repurchase 1,000% of shares. This repurchase authorization authorizes the biopharmaceutical company to repurchase shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.
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In related news, Director Michael G. Grey purchased 10,000 shares of Horizon Pharma PLC stock in a transaction dated Wednesday, May 10th. The stock was bought at an average cost of $9.48 per share, with a total value of $94,800.00. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 3.20% of the company’s stock.
Several hedge funds have recently modified their holdings of the company. Systematic Financial Management LP raised its stake in Horizon Pharma PLC by 100.4% in the fourth quarter. Systematic Financial Management LP now owns 152,340 shares of the biopharmaceutical company’s stock valued at $3,301,000 after buying an additional 76,335 shares in the last quarter. Hodges Capital Management Inc. raised its stake in Horizon Pharma PLC by 4.1% in the fourth quarter. Hodges Capital Management Inc. now owns 1,571,794 shares of the biopharmaceutical company’s stock valued at $34,061,000 after buying an additional 61,454 shares in the last quarter. CAM Group Holding A S acquired a new stake in Horizon Pharma PLC during the fourth quarter valued at approximately $14,335,000. Teacher Retirement System of Texas raised its stake in Horizon Pharma PLC by 87.4% in the fourth quarter. Teacher Retirement System of Texas now owns 2,136,961 shares of the biopharmaceutical company’s stock valued at $46,308,000 after buying an additional 996,761 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in Horizon Pharma PLC by 7.4% in the third quarter. Bank of New York Mellon Corp now owns 750,930 shares of the biopharmaceutical company’s stock valued at $13,614,000 after buying an additional 51,860 shares in the last quarter. 82.95% of the stock is owned by 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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