Horizon Therapeutics (NASDAQ:HZNP) had its price target increased by research analysts at JMP Securities to in a research note issued to investors on Tuesday, The Fly reports. The brokerage currently has an “outperform” rating on the biopharmaceutical company’s stock.
Other equities analysts have also recently issued research reports about the company. Goldman Sachs Group initiated coverage on Horizon Therapeutics in a research note on Wednesday, January 8th. They issued a “neutral” rating and a $35.00 price target on the stock. Morgan Stanley lifted their price target on Horizon Therapeutics from $32.00 to $38.00 and gave the stock an “overweight” rating in a research note on Monday, December 16th. Bank of America assumed coverage on Horizon Therapeutics in a research note on Thursday, September 26th. They issued a “buy” rating and a $34.00 price target on the stock. Cantor Fitzgerald lifted their target price on Horizon Therapeutics from $32.00 to $36.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. Finally, Piper Jaffray Companies reaffirmed a “buy” rating and set a $49.00 target price (up previously from $36.00) on shares of Horizon Therapeutics in a research note on Tuesday, December 24th. Four research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $37.14.
HZNP traded up $0.14 during trading on Tuesday, reaching $38.40. The company had a trading volume of 1,421,126 shares, compared to its average volume of 1,787,856. The firm’s 50-day simple moving average is $34.63 and its 200 day simple moving average is $28.77. The company has a market cap of $6.86 billion, a price-to-earnings ratio of 20.98, a PEG ratio of 1.50 and a beta of 0.89. Horizon Therapeutics has a 12-month low of $20.05 and a 12-month high of $38.61. The company has a debt-to-equity ratio of 0.87, a quick ratio of 2.23 and a current ratio of 2.33.
Horizon Therapeutics (NASDAQ:HZNP) last issued its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported $0.64 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.14. The firm had revenue of $335.50 million for the quarter, compared to analysts’ expectations of $330.60 million. Horizon Therapeutics had a return on equity of 27.71% and a net margin of 5.25%. Horizon Therapeutics’s revenue was up 3.1% on a year-over-year basis. During the same quarter last year, the business posted $0.65 EPS. On average, sell-side analysts expect that Horizon Therapeutics will post 1.55 EPS for the current year.
In other news, insider Jeff Kent sold 3,545 shares of Horizon Therapeutics stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $36.50, for a total transaction of $129,392.50. Following the completion of the sale, the insider now directly owns 121,988 shares in the company, valued at approximately $4,452,562. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Timothy P. Walbert sold 84,886 shares of Horizon Therapeutics stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $35.57, for a total value of $3,019,395.02. Following the sale, the chief executive officer now owns 987,991 shares of the company’s stock, valued at $35,142,839.87. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 126,888 shares of company stock worth $4,413,598. Company insiders own 4.10% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. Cubist Systematic Strategies LLC lifted its holdings in shares of Horizon Therapeutics by 4.3% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 218,129 shares of the biopharmaceutical company’s stock valued at $5,248,000 after buying an additional 8,999 shares during the last quarter. Lisanti Capital Growth LLC lifted its holdings in shares of Horizon Therapeutics by 13.3% during the 3rd quarter. Lisanti Capital Growth LLC now owns 233,865 shares of the biopharmaceutical company’s stock valued at $6,368,000 after buying an additional 27,395 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of Horizon Therapeutics during the 2nd quarter valued at about $125,000. California Public Employees Retirement System lifted its holdings in Horizon Therapeutics by 49.7% in the 3rd quarter. California Public Employees Retirement System now owns 387,522 shares of the biopharmaceutical company’s stock worth $10,552,000 after purchasing an additional 128,634 shares during the last quarter. Finally, Millennium Management LLC lifted its holdings in Horizon Therapeutics by 48.6% in the 3rd quarter. Millennium Management LLC now owns 1,006,265 shares of the biopharmaceutical company’s stock worth $27,400,000 after purchasing an additional 329,145 shares during the last quarter. Institutional investors and hedge funds own 88.24% of the company’s stock.
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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