Dimensional Fund Advisors LP increased its stake in shares of Horizon Pharma PLC (NASDAQ:HZNP) by 10.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,856,197 shares of the biopharmaceutical company’s stock after buying an additional 264,592 shares during the period. Dimensional Fund Advisors LP owned approximately 1.76% of Horizon Pharma PLC worth $42,216,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. bought a new stake in Horizon Pharma PLC during the fourth quarter valued at $1,702,000. Comerica Bank raised its stake in Horizon Pharma PLC by 98.3% in the fourth quarter. Comerica Bank now owns 63,952 shares of the biopharmaceutical company’s stock valued at $1,115,000 after buying an additional 31,703 shares during the last quarter. Two Sigma Investments LP bought a new stake in Horizon Pharma PLC during the fourth quarter valued at $310,000. Norges Bank bought a new stake in Horizon Pharma PLC during the fourth quarter valued at $31,467,000. Finally, Teachers Advisors LLC raised its stake in Horizon Pharma PLC by 3.3% in the fourth quarter. Teachers Advisors LLC now owns 892,711 shares of the biopharmaceutical company’s stock valued at $14,444,000 after buying an additional 28,363 shares during the last quarter. Institutional investors own 83.75% of the company’s stock.
Horizon Pharma PLC (NASDAQ:HZNP) traded down 0.42% during trading on Wednesday, hitting $11.89. The stock had a trading volume of 2,772,313 shares. Horizon Pharma PLC has a one year low of $9.45 and a one year high of $23.24. The company’s market cap is $1.94 billion. The firm has a 50 day moving average of $12.45 and a 200-day moving average of $13.56.
Horizon Pharma PLC (NASDAQ:HZNP) last posted its earnings results on Monday, August 7th. The biopharmaceutical company reported $0.41 EPS for the quarter, beating the Zacks’ consensus estimate of $0.12 by $0.29. The company had revenue of $289.51 million for the quarter, compared to the consensus estimate of $237.01 million. Horizon Pharma PLC had a positive return on equity of 22.85% and a negative net margin of 42.40%. The company’s revenue for the quarter was up 12.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.56 earnings per share. Equities analysts anticipate that Horizon Pharma PLC will post $1.07 earnings per share for the current fiscal year.
Horizon Pharma PLC announced that its board has initiated a stock buyback plan on Monday, May 8th that permits the company to repurchase 1,000% of outstanding shares. This repurchase authorization permits the biopharmaceutical company to reacquire shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.
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Several analysts recently weighed in on HZNP shares. BMO Capital Markets restated a “buy” rating and set a $17.00 price target (down previously from $24.00) on shares of Horizon Pharma PLC in a report on Tuesday, May 9th. Mizuho lowered Horizon Pharma PLC from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $22.00 to $10.00 in a research note on Tuesday, May 9th. Cowen and Company set a $20.00 target price on Horizon Pharma PLC and gave the stock an “outperform” rating in a research note on Tuesday, May 9th. Stifel Nicolaus reiterated a “buy” rating and issued a $20.00 target price (down previously from $35.00) on shares of Horizon Pharma PLC in a research note on Tuesday, May 9th. Finally, Jefferies Group LLC set a $14.00 target price on Horizon Pharma PLC and gave the stock a “buy” rating in a research note on Tuesday, May 9th. Five analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $19.46.
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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