Zacks: Brokerages Expect Horizon Pharma PLC (NASDAQ:HZNP) Will Post Quarterly Sales of $254.14 Million
Brokerages forecast that Horizon Pharma PLC (NASDAQ:HZNP) will announce $254.14 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Horizon Pharma PLC’s earnings. The lowest sales estimate is $249.55 million and the highest is $258.72 million. Horizon Pharma PLC reported sales of $208.70 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 21.8%. The company is expected to issue its next quarterly earnings report on Monday, November 6th.
According to Zacks, analysts expect that Horizon Pharma PLC will report full year sales of $254.14 million for the current year, with estimates ranging from $1.02 billion to $1.06 billion. For the next fiscal year, analysts anticipate that the company will post sales of $1.07 billion per share, with estimates ranging from $1.05 billion to $1.08 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that cover Horizon Pharma PLC.
Horizon Pharma PLC (NASDAQ:HZNP) last released its quarterly earnings data on Monday, August 7th. The biopharmaceutical company reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.29. Horizon Pharma PLC had a negative net margin of 42.40% and a positive return on equity of 22.85%. The firm had revenue of $289.51 million during the quarter, compared to analysts’ expectations of $237.01 million. During the same period in the previous year, the company earned $0.56 earnings per share. The firm’s quarterly revenue was up 12.5% on a year-over-year basis.
HZNP has been the subject of a number of recent analyst reports. Cantor Fitzgerald initiated coverage on shares of Horizon Pharma PLC in a research note on Friday, June 16th. They issued an “overweight” rating and a $13.00 target price for the company. ValuEngine lowered shares of Horizon Pharma PLC from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Piper Jaffray Companies set a $17.00 price target on shares of Horizon Pharma PLC and gave the stock a “buy” rating in a research report on Tuesday, July 25th. BMO Capital Markets reissued a “buy” rating and set a $17.00 price target (down from $24.00) on shares of Horizon Pharma PLC in a research report on Tuesday, May 9th. Finally, Stifel Nicolaus reissued a “buy” rating and set a $20.00 price target (down 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 assigned 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 a consensus target price of $19.46.
Several institutional investors have recently bought and sold shares of the stock. Bank of Montreal Can raised 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 during the period. Searle & CO. purchased a new position in Horizon Pharma PLC during the first quarter valued at $781,000. Sheaff Brock Investment Advisors LLC purchased a new position in Horizon Pharma PLC during the first quarter valued at $148,000. Massachusetts Financial Services Co. MA purchased a new position in Horizon Pharma PLC during the first quarter valued at $151,000. Finally, Ballentine Partners LLC purchased a new position in Horizon Pharma PLC during the second quarter valued at $139,000. 82.95% of the stock is owned by hedge funds and other institutional investors.
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Horizon Pharma PLC (NASDAQ:HZNP) opened at 12.08 on Friday. The stock’s 50 day moving average is $12.44 and its 200 day moving average is $13.66. 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 $1.97 billion.
Horizon Pharma PLC declared that its board has authorized a stock repurchase plan on Monday, May 8th that permits the company to buyback 1,000% of shares. This buyback authorization permits the biopharmaceutical company to repurchase shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.
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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