Brokerages Expect Horizon Pharma PLC (HZNP) Will Post Quarterly Sales of $316.93 Million

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Equities research analysts forecast that Horizon Pharma PLC (NASDAQ:HZNP) will announce sales of $316.93 million for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Horizon Pharma’s earnings, with the highest sales estimate coming in at $320.23 million and the lowest estimate coming in at $313.77 million. Horizon Pharma posted sales of $271.65 million in the same quarter last year, which would suggest a positive year over year growth rate of 16.7%. The company is expected to announce its next earnings report before the market opens on Wednesday, November 7th.

On average, analysts expect that Horizon Pharma will report full-year sales of $1.18 billion for the current fiscal year, with estimates ranging from $1.18 billion to $1.19 billion. For the next year, analysts expect that the business will report sales of $1.28 billion, with estimates ranging from $1.23 billion to $1.34 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that follow Horizon Pharma.

Horizon Pharma (NASDAQ:HZNP) last released its quarterly earnings results on Wednesday, August 8th. The biopharmaceutical company reported $0.48 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.17. Horizon Pharma had a negative net margin of 28.02% and a positive return on equity of 19.05%. The company had revenue of $302.84 million for the quarter, compared to analysts’ expectations of $275.51 million. During the same period last year, the company earned $0.41 EPS. The firm’s revenue for the quarter was up 4.6% compared to the same quarter last year.

Several research firms have issued reports on HZNP. Mizuho reaffirmed a “buy” rating and set a $18.00 price target on shares of Horizon Pharma in a research note on Wednesday, August 8th. Jefferies Financial Group raised their price target on shares of Horizon Pharma from $21.00 to $23.00 and gave the stock a “buy” rating in a research note on Thursday, August 9th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $25.00 price target on shares of Horizon Pharma in a research note on Thursday, August 9th. ValuEngine raised shares of Horizon Pharma from a “hold” rating to a “buy” rating in a research report on Monday, July 30th. Finally, Stifel Nicolaus raised their target price on shares of Horizon Pharma from $20.00 to $22.00 and gave the stock a “buy” rating in a research report on Monday, June 18th. Five analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $21.92.

In related news, EVP Geoffrey M. Curtis sold 9,904 shares of the firm’s stock in a transaction that occurred on Thursday, August 16th. The shares were sold at an average price of $20.63, for a total value of $204,319.52. Following the sale, the executive vice president now directly owns 28,767 shares of the company’s stock, valued at $593,463.21. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.90% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its holdings in Horizon Pharma by 3.9% in the second quarter. BlackRock Inc. now owns 13,451,246 shares of the biopharmaceutical company’s stock valued at $222,753,000 after buying an additional 507,323 shares during the period. venBio Select Advisor LLC raised its holdings in Horizon Pharma by 16.3% in the first quarter. venBio Select Advisor LLC now owns 5,158,683 shares of the biopharmaceutical company’s stock valued at $73,253,000 after buying an additional 722,500 shares during the period. Renaissance Technologies LLC raised its holdings in Horizon Pharma by 51.1% in the second quarter. Renaissance Technologies LLC now owns 5,014,300 shares of the biopharmaceutical company’s stock valued at $83,037,000 after buying an additional 1,695,700 shares during the period. Eagle Asset Management Inc. purchased a new position in Horizon Pharma in the second quarter valued at approximately $39,795,000. Finally, Bank of America Corp DE raised its holdings in Horizon Pharma by 36.4% in the second quarter. Bank of America Corp DE now owns 2,315,613 shares of the biopharmaceutical company’s stock valued at $38,347,000 after buying an additional 617,595 shares during the period. 87.25% of the stock is currently owned by institutional investors and hedge funds.

Shares of Horizon Pharma stock traded up $0.22 during mid-day trading on Monday, hitting $18.27. 1,083,819 shares of the stock were exchanged, compared to its average volume of 1,672,029. Horizon Pharma has a twelve month low of $12.55 and a twelve month high of $21.25. The stock has a market capitalization of $3.26 billion, a P/E ratio of 15.48, a P/E/G ratio of 1.24 and a beta of 1.40. The company has a debt-to-equity ratio of 2.19, a current ratio of 1.70 and a quick ratio of 1.63.

Horizon Pharma Company Profile

Horizon Pharma 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. The company's marketed medicine portfolio consists of RAVICTI for the treatment of urea cycle disorders; PROCYSBI to treat nephropathic cystinosis; ACTIMMUNE for the treatment of chronic granulomatous disease and malignant osteopetrosis; BUPHENYL to treat urea cycle disorders; and QUINSAIR for the treatment of chronic pulmonary infections due to pseudomonas aeruginosa in cystic fibrosis patients.

See Also: Initial Public Offering (IPO)

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Earnings History and Estimates for Horizon Pharma (NASDAQ:HZNP)

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