Horizon Pharma Inc. (NASDAQ:HZNP) was the recipient of a large growth in short interest in September. As of September 15th, there was short interest totalling 17,130,318 shares, a growth of 8.4% from the August 31st total of 15,809,119 shares. Based on an average trading volume of 3,565,429 shares, the short-interest ratio is presently 4.8 days. Currently, 11.2% of the shares of the stock are short sold.
In other Horizon Pharma news, EVP Jeffrey W. Sherman sold 2,900 shares of Horizon Pharma stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $20.00, for a total value of $58,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 2.10% of the stock is owned by company insiders.
Institutional investors have recently made changes to their positions in the stock. Canada Pension Plan Investment Board bought a new stake in Horizon Pharma during the first quarter valued at about $114,000. Societe Generale bought a new stake in Horizon Pharma during the second quarter valued at about $117,000. SG Americas Securities LLC bought a new stake in Horizon Pharma during the second quarter valued at about $117,000. Exane Derivatives bought a new stake in Horizon Pharma during the first quarter valued at about $166,000. Finally, Nuveen Asset Management LLC bought a new stake in Horizon Pharma during the second quarter valued at about $176,000. 85.25% of the stock is owned by institutional investors and hedge funds.
Several brokerages have weighed in on HZNP. Zacks Investment Research raised Horizon Pharma from a “hold” rating to a “buy” rating and set a $21.00 price objective for the company in a report on Monday, July 11th. Piper Jaffray Cos. reaffirmed an “overweight” rating and issued a $33.00 price objective (down from $34.00) on shares of Horizon Pharma in a report on Wednesday, August 10th. Morgan Stanley set a $24.00 price objective on Horizon Pharma and gave the company a “hold” rating in a report on Monday, September 12th. Citigroup Inc. lifted their price objective on Horizon Pharma from $18.00 to $21.00 and gave the company a “neutral” rating in a report on Tuesday, August 9th. Finally, Vetr raised Horizon Pharma from a “buy” rating to a “strong-buy” rating and set a $21.00 price objective for the company in a report on Monday, June 13th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $30.00.
Shares of Horizon Pharma (NASDAQ:HZNP) opened at 19.25 on Thursday. Horizon Pharma has a 12 month low of $12.86 and a 12 month high of $23.70. The company’s 50-day moving average price is $19.37 and its 200-day moving average price is $17.77. The company’s market cap is $3.10 billion.
Horizon Pharma (NASDAQ:HZNP) last announced its quarterly earnings data on Monday, August 8th. The biopharmaceutical company reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.12. Horizon Pharma had a positive return on equity of 23.46% and a negative net margin of 0.34%. The business earned $257.40 million during the quarter, compared to analyst estimates of $235.43 million. During the same period in the prior year, the company earned $0.39 earnings per share. Horizon Pharma’s revenue was up 48.9% compared to the same quarter last year. Analysts anticipate that Horizon Pharma will post $2.15 EPS for the current year.
Horizon Pharma Company Profile
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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