Morgan Stanley reaffirmed their hold rating on shares of Horizon Pharma Inc. (NASDAQ:HZNP) in a research note published on Wednesday. Morgan Stanley currently has a $24.00 target price on the biopharmaceutical company’s stock.
HZNP has been the subject of several other reports. Vetr upgraded Horizon Pharma from a buy rating to a strong-buy rating and set a $21.00 price target for the company in a report on Monday, June 13th. Goldman Sachs Group Inc. reiterated a buy rating and set a $27.00 price target on shares of Horizon Pharma in a report on Thursday, September 8th. Guggenheim reiterated a buy rating and set a $30.00 price target on shares of Horizon Pharma in a report on Tuesday, August 23rd. Cowen and Company reiterated an outperform rating and set a $42.00 price target on shares of Horizon Pharma in a report on Monday, September 12th. Finally, Mizuho lifted their price target on Horizon Pharma from $30.00 to $33.00 and gave the company a buy rating in a report on Tuesday, September 13th. One analyst has rated the stock with a sell rating, three have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of Buy and an average price target of $30.00.
Horizon Pharma (NASDAQ:HZNP) opened at 18.13 on Wednesday. The company’s 50-day moving average price is $19.72 and its 200 day moving average price is $17.66. Horizon Pharma has a 52 week low of $12.86 and a 52 week high of $23.70. The company’s market capitalization is $2.92 billion.
Horizon Pharma (NASDAQ:HZNP) last announced its quarterly earnings results on Monday, August 8th. The biopharmaceutical company reported $0.62 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.50 by $0.12. The business earned $257.40 million during the quarter, compared to analyst estimates of $235.43 million. Horizon Pharma had a positive return on equity of 23.46% and a negative net margin of 0.34%. The firm’s revenue was up 48.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.39 EPS. On average, equities research analysts anticipate that Horizon Pharma will post $2.15 EPS for the current year.
In other news, EVP Jeffrey W. Sherman sold 2,900 shares of Horizon Pharma stock in a transaction that occurred on Tuesday, August 2nd. The stock was sold at an average price of $20.00, for a total transaction of $58,000.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 2.10% of the company’s stock.
Several hedge funds have recently made changes to their positions in HZNP. Canada Pension Plan Investment Board purchased a new stake in shares of Horizon Pharma during the first quarter valued at $114,000. Societe Generale bought a new stake in shares of Horizon Pharma during the second quarter valued at approximately $117,000. SG Americas Securities LLC bought a new stake in shares of Horizon Pharma during the second quarter valued at approximately $117,000. Exane Derivatives bought a new stake in shares of Horizon Pharma during the first quarter valued at approximately $166,000. Finally, Nuveen Asset Management LLC bought a new stake in shares of Horizon Pharma during the second quarter valued at approximately $176,000. 85.25% of the stock is currently owned by institutional investors.
About Horizon Pharma
Horizon Pharma plc, formerly Vidara Therapeutics International Public Limited Company, is a biopharmaceutical company. The Company is focused on identifying, developing, acquiring or in-licensing and commercializing differentiated products. It markets approximately nine medicines through its orphan, primary care and rheumatology business units.
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