Cantor Fitzgerald restated their buy rating on shares of Horizon Pharma (NASDAQ:HZNP) in a research note issued to investors on Thursday morning. They currently have a $21.00 price objective on the biopharmaceutical company’s stock.
“We rate HZNP as 12-month price target of $21. We continue to believe the rare/orphan disease and rheumatology businesses are underappreciated. Valuation Summary We use a blend of DCF and multiples (EV/EBITDA) analysis to get to our 12-month price target of $21. The Disclosure Section may be found on pages 3 – 4.Valuation We use a blend of DCF and multiples (EV/EBITDA) analysis to get to our 12-month price target of $21.”,” Cantor Fitzgerald’s analyst wrote.
Several other brokerages have also recently issued reports on HZNP. BidaskClub upgraded Horizon Pharma from a sell rating to a hold rating in a research report on Wednesday, May 16th. Mizuho restated a buy rating and issued a $18.00 price target on shares of Horizon Pharma in a research report on Wednesday, August 8th. Zacks Investment Research upgraded Horizon Pharma from a hold rating to a buy rating and set a $19.00 price target on the stock in a research report on Tuesday, July 10th. Citigroup cut Horizon Pharma from a buy rating to a neutral rating in a research report on Wednesday, June 27th. Finally, BMO Capital Markets cut Horizon Pharma from an outperform rating to a market perform rating and set a $18.00 price target on the stock. in a research report on Monday, August 6th. Four research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Horizon Pharma has an average rating of Buy and an average price target of $21.00.
HZNP opened at $20.34 on Thursday. The company has a debt-to-equity ratio of 2.19, a quick ratio of 1.63 and a current ratio of 1.70. Horizon Pharma has a one year low of $11.17 and a one year high of $21.25. The stock has a market cap of $3.48 billion, a PE ratio of 17.24, a PEG ratio of 1.32 and a beta of 1.49.
Horizon Pharma (NASDAQ:HZNP) last posted its earnings results on Wednesday, August 8th. The biopharmaceutical company reported $0.48 EPS for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.17. Horizon Pharma had a positive return on equity of 19.05% and a negative net margin of 28.02%. The business had revenue of $302.84 million for the quarter, compared to analysts’ expectations of $275.51 million. During the same quarter in the previous year, the firm earned $0.41 earnings per share. The business’s revenue was up 4.6% compared to the same quarter last year. equities research analysts anticipate that Horizon Pharma will post 1.34 EPS for the current year.
In related news, EVP Geoffrey M. Curtis sold 9,904 shares of the business’s stock in a transaction dated Thursday, August 16th. The stock was sold at an average price of $20.63, for a total value of $204,319.52. Following the transaction, the executive vice president now owns 28,767 shares in the company, valued at approximately $593,463.21. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 3.90% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp acquired a new position in Horizon Pharma during the 2nd quarter worth approximately $1,537,000. Zacks Investment Management acquired a new position in Horizon Pharma during the 2nd quarter worth approximately $2,562,000. Redmile Group LLC increased its position in Horizon Pharma by 29.0% during the 2nd quarter. Redmile Group LLC now owns 25,800 shares of the biopharmaceutical company’s stock worth $427,000 after purchasing an additional 5,800 shares during the period. Bank of America Corp DE increased its position in Horizon Pharma by 36.4% during the 2nd quarter. Bank of America Corp DE now owns 2,315,613 shares of the biopharmaceutical company’s stock worth $38,347,000 after purchasing an additional 617,595 shares during the period. Finally, Raymond James & Associates increased its position in Horizon Pharma by 12.4% during the 2nd quarter. Raymond James & Associates now owns 187,465 shares of the biopharmaceutical company’s stock worth $3,104,000 after purchasing an additional 20,621 shares during the period. Institutional investors own 87.26% of the company’s stock.
About Horizon Pharma
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.
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