Horizon Pharma PLC (NASDAQ:HZNP) Given a $16.00 Price Target by UBS AG Analysts
Horizon Pharma PLC (NASDAQ:HZNP) has been assigned a $16.00 price target by stock analysts at UBS AG in a research note issued on Tuesday, www.tipranks.com reports. The firm currently has a “buy” rating on the biopharmaceutical company’s stock. UBS AG’s price objective suggests a potential upside of 20.30% from the company’s previous close.
A number of other analysts have also weighed in on the stock. Citigroup Inc. decreased their target price on shares of Horizon Pharma PLC from $20.00 to $13.00 and set a “buy” rating on the stock in a report on Tuesday, May 9th. BMO Capital Markets reaffirmed a “buy” rating and set a $17.00 target price (down previously from $24.00) on shares of Horizon Pharma PLC in a 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 report on Wednesday, April 12th. BidaskClub raised shares of Horizon Pharma PLC from a “hold” rating to a “buy” rating in a report on Saturday, June 24th. Finally, Cantor Fitzgerald started coverage on shares of Horizon Pharma PLC in a report on Friday, June 16th. They set an “overweight” rating and a $13.00 target price on the stock. Five analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. Horizon Pharma PLC presently has an average rating of “Buy” and an average price target of $19.57.
Shares of Horizon Pharma PLC (NASDAQ:HZNP) traded up 1.65% on Tuesday, reaching $13.52. 559,080 shares of the company were exchanged. The firm has a 50 day moving average price of $12.12 and a 200-day moving average price of $13.85. Horizon Pharma PLC has a 12-month low of $9.45 and a 12-month high of $23.44. The stock’s market capitalization is $2.20 billion.
Horizon Pharma PLC (NASDAQ:HZNP) last posted its earnings results on Monday, August 7th. The biopharmaceutical company reported $0.41 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.12 by $0.29. The business had revenue of $289.51 million for the quarter, compared to analyst estimates of $237.01 million. Horizon Pharma PLC had a negative net margin of 21.26% and a positive return on equity of 21.51%. Horizon Pharma PLC’s revenue was up 12.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.56 EPS. On average, analysts predict that Horizon Pharma PLC will post $0.99 EPS for the current fiscal year.
Horizon Pharma PLC declared that its board has approved a stock buyback plan on Monday, May 8th that allows the company to buyback 1,000% of outstanding shares. This buyback authorization allows the biopharmaceutical company to reacquire shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s board believes its shares are undervalued.
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In other Horizon Pharma PLC news, Director Michael G. Grey bought 10,000 shares of Horizon Pharma PLC stock in a transaction that occurred on Wednesday, May 10th. The shares were bought at an average price of $9.48 per share, with a total value of $94,800.00. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 3.20% of the stock is currently owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its position in Horizon Pharma PLC by 68,479.5% in the first quarter. BlackRock Inc. now owns 13,261,212 shares of the biopharmaceutical company’s stock valued at $196,001,000 after buying an additional 13,241,875 shares in the last quarter. Vanguard Group Inc. raised its position in Horizon Pharma PLC by 4.1% in the first quarter. Vanguard Group Inc. now owns 12,749,275 shares of the biopharmaceutical company’s stock valued at $188,434,000 after buying an additional 506,596 shares in the last quarter. Janus Capital Management LLC raised its position in Horizon Pharma PLC by 19.4% in the first quarter. Janus Capital Management LLC now owns 4,409,717 shares of the biopharmaceutical company’s stock valued at $65,173,000 after buying an additional 717,643 shares in the last quarter. State Street Corp raised its position in Horizon Pharma PLC by 1.0% in the first quarter. State Street Corp now owns 4,382,120 shares of the biopharmaceutical company’s stock valued at $64,766,000 after buying an additional 42,142 shares in the last quarter. Finally, Alliancebernstein L.P. raised its position in Horizon Pharma PLC by 14.8% in the first quarter. Alliancebernstein L.P. now owns 4,064,995 shares of the biopharmaceutical company’s stock valued at $60,081,000 after buying an additional 525,486 shares in the last quarter. 82.95% of the stock is currently 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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