Horizon Pharma PLC (NASDAQ:HZNP)‘s stock had its “buy” rating reaffirmed by equities researchers at Cantor Fitzgerald in a research report issued on Monday, September 11th. They presently have a $17.00 target price on the biopharmaceutical company’s stock. Cantor Fitzgerald’s price target would suggest a potential upside of 38.55% from the stock’s previous close.
The analysts wrote, “We are maintaining our Overweight rating and $17, 12 month PT for HZNP shares, but lowering our 2017 and 2018 EPS estimates because we have taken out some sales for the Raptor franchise now that Horizon has completed the sale of its EU marketing rights to Chiesi (Not Covered). We continue to expect Krystexxa sales to be impacted by the 340b program in 4Q17, which could prove conservative. Please see our note for details Potential HHS Delay Could Be Positive for HZNP’s Krystexxa Sales This Year. We expect orphan drug sales to increase 50% YOY which is in line with Horizon’s guidance, and rheumatology sales to increase 37% YOY, which is also roughly in line with Horizon’s guidance. Valuation. We use a blend of DCF and multiples (EV/EBITDA) analysis to get to our 12-month price target of $17.””
A number of other equities research analysts also recently commented on HZNP. UBS AG set a $16.00 target price on Horizon Pharma PLC and gave the company a “buy” rating in a research report on Wednesday, June 7th. Mizuho reiterated a “neutral” rating and issued a $9.00 price objective (down previously from $10.00) on shares of Horizon Pharma PLC in a report on Wednesday, August 9th. Zacks Investment Research upgraded Horizon Pharma PLC from a “sell” rating to a “hold” rating in a report on Friday, August 11th. BMO Capital Markets reiterated an “outperform” rating and issued a $18.00 price objective (up previously from $17.00) on shares of Horizon Pharma PLC in a report on Thursday, August 10th. Finally, Piper Jaffray Companies set a $18.00 price objective on Horizon Pharma PLC and gave the company a “buy” rating in a report on Monday, August 7th. Five analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $18.67.
Horizon Pharma PLC (NASDAQ HZNP) opened at 12.27 on Monday. The firm’s 50-day moving average is $12.81 and its 200 day moving average is $12.94. The firm’s market cap is $2.00 billion. Horizon Pharma PLC has a 12-month low of $9.45 and a 12-month high of $21.98.
Horizon Pharma PLC (NASDAQ:HZNP) last issued its quarterly earnings results on Monday, August 7th. The biopharmaceutical company reported $0.41 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.12 by $0.29. Horizon Pharma PLC had a positive return on equity of 22.85% and a negative net margin of 42.40%. The firm had revenue of $289.51 million for the quarter, compared to analyst estimates of $237.01 million. During the same period in the previous year, the company posted $0.56 earnings per share. The business’s revenue was up 12.5% on a year-over-year basis. Equities analysts forecast that Horizon Pharma PLC will post $1.07 earnings per share for the current year.
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Several institutional investors have recently bought and sold shares of HZNP. Profund Advisors LLC lifted its holdings in shares of Horizon Pharma PLC by 0.8% in the 1st quarter. Profund Advisors LLC now owns 13,508 shares of the biopharmaceutical company’s stock valued at $200,000 after purchasing an additional 112 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in shares of Horizon Pharma PLC by 12.6% in the 1st quarter. Wells Fargo & Company MN now owns 498,787 shares of the biopharmaceutical company’s stock valued at $7,372,000 after purchasing an additional 55,678 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of Horizon Pharma PLC by 12.4% in the 1st quarter. American Century Companies Inc. now owns 547,464 shares of the biopharmaceutical company’s stock valued at $8,092,000 after purchasing an additional 60,356 shares during the last quarter. US Bancorp DE lifted its holdings in shares of Horizon Pharma PLC by 1.2% in the 1st quarter. US Bancorp DE now owns 32,050 shares of the biopharmaceutical company’s stock valued at $473,000 after purchasing an additional 368 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in Horizon Pharma PLC by 3.1% during the 1st quarter. Bank of New York Mellon Corp now owns 764,571 shares of the biopharmaceutical company’s stock valued at $11,300,000 after acquiring an additional 22,918 shares during the last quarter. 82.30% of the stock is owned by institutional investors and hedge funds.
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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