Rhumbline Advisers decreased its position in shares of Horizon Therapeutics PLC (NASDAQ:HZNP) by 4.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 181,457 shares of the biopharmaceutical company’s stock after selling 8,400 shares during the period. Rhumbline Advisers owned 0.10% of Horizon Therapeutics worth $4,941,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. First Mercantile Trust Co. increased its position in Horizon Therapeutics by 31.6% during the second quarter. First Mercantile Trust Co. now owns 10,803 shares of the biopharmaceutical company’s stock worth $260,000 after buying an additional 2,597 shares during the period. Cubist Systematic Strategies LLC increased its position in Horizon Therapeutics by 4.3% during the second quarter. Cubist Systematic Strategies LLC now owns 218,129 shares of the biopharmaceutical company’s stock worth $5,248,000 after buying an additional 8,999 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Horizon Therapeutics during the second quarter worth approximately $331,000. Point72 Asset Management L.P. acquired a new position in Horizon Therapeutics during the second quarter worth approximately $125,000. Finally, Bowling Portfolio Management LLC purchased a new position in shares of Horizon Therapeutics in the 2nd quarter valued at approximately $494,000. 86.70% of the stock is currently owned by institutional investors.
Horizon Therapeutics stock opened at $29.65 on Friday. The company has a debt-to-equity ratio of 0.90, a current ratio of 2.20 and a quick ratio of 2.12. Horizon Therapeutics PLC has a 1-year low of $17.94 and a 1-year high of $31.25. The company has a market cap of $5.57 billion, a PE ratio of 14.15, a price-to-earnings-growth ratio of 1.76 and a beta of 0.83. The stock’s 50 day moving average price is $27.75 and its 200 day moving average price is $25.95.
Horizon Therapeutics (NASDAQ:HZNP) last posted its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported $0.64 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.50 by $0.14. Horizon Therapeutics had a return on equity of 30.33% and a net margin of 5.90%. The firm had revenue of $335.50 million for the quarter, compared to the consensus estimate of $330.60 million. During the same period in the previous year, the business earned $0.65 earnings per share. The company’s revenue for the quarter was up 3.1% compared to the same quarter last year. On average, equities research analysts anticipate that Horizon Therapeutics PLC will post 1.58 EPS for the current fiscal year.
In related news, Chairman Timothy P. Walbert sold 58,820 shares of Horizon Therapeutics stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $28.00, for a total value of $1,646,960.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Timothy P. Walbert sold 320,174 shares of Horizon Therapeutics stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $28.02, for a total value of $8,971,275.48. Following the completion of the sale, the chief executive officer now owns 892,483 shares in the company, valued at $25,007,373.66. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 576,405 shares of company stock worth $16,126,099. Company insiders own 4.10% of the company’s stock.
Several research analysts have weighed in on HZNP shares. Piper Jaffray Companies set a $33.00 target price on Horizon Therapeutics and gave the company a “buy” rating in a research note on Monday, August 26th. Guggenheim started coverage on Horizon Therapeutics in a research note on Thursday, September 12th. They issued a “buy” rating and a $36.00 target price on the stock. Stifel Nicolaus set a $35.00 target price on Horizon Therapeutics and gave the company a “buy” rating in a research note on Friday, September 13th. BMO Capital Markets upgraded Horizon Therapeutics from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $29.00 to $36.00 in a research note on Wednesday, August 14th. Finally, Bank of America started coverage on Horizon Therapeutics in a research note on Thursday, September 26th. They issued a “buy” rating and a $34.00 target price on the stock. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Horizon Therapeutics currently has a consensus rating of “Buy” and a consensus target price of $33.46.
About Horizon Therapeutics
Horizon Therapeutics Public Limited Company, a biopharmaceutical company, focuses on researching, developing, and commercializing medicines that address unmet treatment needs for rare and rheumatic diseases in the United States and internationally. Its orphan and rheumatology marketed medicines include KRYSTEXXA, a medicine for the treatment of uncontrolled gout; RAVICTI for use as a nitrogen-binding agent for chronic management of adult and pediatric patients; PROCYSBI for nephropathic cystinosis, a rare and life-threatening metabolic disorder; ACTIMMUNE for chronic granulomatous disease; RAYOS for the treatment of multiple conditions, rheumatoid arthritis; BUPHENYL tablets for oral administration and BUPHENYL powder for oral, nasogastric, or gastrostomy tube administration; and QUINSAIR, a formulation of the antibiotic drug levofloxacin for the management of chronic pulmonary infections due to Pseudomonas aeruginosa in adult patients with cystic fibrosis.
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