Horizon Pharma (HZNP) Raised to Buy at BidaskClub

BidaskClub upgraded shares of Horizon Pharma (NASDAQ:HZNP) from a hold rating to a buy rating in a research note published on Tuesday.

Other research analysts have also recently issued research reports about the company. ValuEngine raised Horizon Pharma from a hold rating to a buy rating in a research note on Monday, July 30th. Jefferies Financial Group increased their target price on Horizon Pharma from $21.00 to $23.00 and gave the company a buy rating in a research note on Thursday, August 9th. Cowen reissued a buy rating and issued a $25.00 target price on shares of Horizon Pharma in a research note on Thursday, August 9th. Piper Jaffray Companies reissued a buy rating and issued a $25.00 target price on shares of Horizon Pharma in a research note on Thursday, August 9th. Finally, Mizuho reissued a buy rating and issued a $18.00 target price on shares of Horizon Pharma in a research note on Wednesday, August 8th. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus price target of $21.92.

HZNP opened at $19.08 on Tuesday. The firm has a market capitalization of $3.21 billion, a P/E ratio of 16.10, a PEG ratio of 1.22 and a beta of 1.40. The company has a current ratio of 1.70, a quick ratio of 1.63 and a debt-to-equity ratio of 2.19. Horizon Pharma has a 52 week low of $12.55 and a 52 week high of $21.25.

Horizon Pharma (NASDAQ:HZNP) last released its earnings results on Wednesday, August 8th. The biopharmaceutical company reported $0.48 EPS for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.17. The business had revenue of $302.84 million for the quarter, compared to analysts’ expectations of $275.51 million. Horizon Pharma had a positive return on equity of 19.05% and a negative net margin of 28.02%. The firm’s revenue was up 4.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.41 earnings per share. As a group, sell-side analysts anticipate that Horizon Pharma will post 1.34 earnings per share for the current fiscal year.

In other news, EVP Geoffrey M. Curtis sold 9,904 shares of the firm’s stock in a transaction dated Thursday, August 16th. The stock was sold at an average price of $20.63, for a total transaction of $204,319.52. Following the transaction, the executive vice president now directly owns 28,767 shares of the company’s stock, valued at $593,463.21. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 3.90% of the stock is currently owned by company insiders.

Several large investors have recently made changes to their positions in the company. BlackRock Inc. grew its stake in shares of Horizon Pharma by 3.9% during the second quarter. BlackRock Inc. now owns 13,451,246 shares of the biopharmaceutical company’s stock valued at $222,753,000 after buying an additional 507,323 shares during the last quarter. Renaissance Technologies LLC grew its stake in shares of Horizon Pharma by 51.1% during the second quarter. Renaissance Technologies LLC now owns 5,014,300 shares of the biopharmaceutical company’s stock valued at $83,037,000 after buying an additional 1,695,700 shares during the last quarter. Eagle Asset Management Inc. bought a new position in shares of Horizon Pharma during the second quarter valued at about $39,795,000. Bank of America Corp DE grew its stake in shares of Horizon Pharma by 36.4% during the second quarter. Bank of America Corp DE now owns 2,315,613 shares of the biopharmaceutical company’s stock valued at $38,347,000 after buying an additional 617,595 shares during the last quarter. Finally, Northern Trust Corp grew its stake in shares of Horizon Pharma by 16.0% during the second quarter. Northern Trust Corp now owns 2,281,798 shares of the biopharmaceutical company’s stock valued at $37,787,000 after buying an additional 314,156 shares during the last quarter. 86.84% of the stock is currently owned by hedge funds and other institutional investors.

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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