Horizon Pharma (NASDAQ:HZNP) released its quarterly earnings results on Wednesday. The biopharmaceutical company reported $0.65 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.15, Briefing.com reports. Horizon Pharma had a negative net margin of 28.02% and a positive return on equity of 19.05%. The business had revenue of $325.30 million for the quarter, compared to analyst estimates of $311.84 million. During the same period in the previous year, the company earned $0.26 earnings per share. The business’s revenue for the quarter was up 19.8% on a year-over-year basis. Horizon Pharma updated its FY 2018 guidance to EPS.
Shares of HZNP traded up $2.37 during trading hours on Wednesday, reaching $21.72. 2,216,669 shares of the company traded hands, compared to its average volume of 1,660,080. The firm has a market capitalization of $3.22 billion, a PE ratio of 18.41, a price-to-earnings-growth ratio of 1.22 and a beta of 1.29. The company has a debt-to-equity ratio of 2.19, a current ratio of 1.70 and a quick ratio of 1.63. Horizon Pharma has a 12-month low of $12.55 and a 12-month high of $21.25.
Several equities analysts have issued reports on the stock. BidaskClub raised shares of Horizon Pharma from a “buy” rating to a “strong-buy” rating in a report on Friday, August 10th. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $21.00 price target on shares of Horizon Pharma in a report on Thursday, September 13th. Morgan Stanley lifted their price target on shares of Horizon Pharma from $16.00 to $24.00 and gave the stock an “equal weight” rating in a report on Friday, August 17th. Jefferies Financial Group lifted their price target on shares of Horizon Pharma from $21.00 to $23.00 and gave the stock a “buy” rating in a report on Thursday, August 9th. Finally, Cowen reaffirmed a “buy” rating and issued a $25.00 price target on shares of Horizon Pharma in a report on Thursday, August 9th. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Horizon Pharma has a consensus rating of “Buy” and a consensus target price of $23.58.
In other news, EVP Geoffrey M. Curtis sold 9,904 shares of the business’s stock in a transaction on Thursday, August 16th. The shares were sold at an average price of $20.63, for a total transaction of $204,319.52. Following the sale, 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 filing with the Securities & Exchange Commission, which is available through this link. 3.90% of the stock is owned by insiders.
Institutional investors and hedge funds have recently made changes to their positions in the company. Eagle Asset Management Inc. purchased a new stake in shares of Horizon Pharma during the second quarter valued at $39,795,000. BlackRock Inc. grew its holdings 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. Bank of America Corp DE grew its holdings 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. Principal Financial Group Inc. grew its holdings in shares of Horizon Pharma by 18.3% during the first quarter. Principal Financial Group Inc. now owns 555,534 shares of the biopharmaceutical company’s stock valued at $7,889,000 after buying an additional 85,970 shares during the last quarter. Finally, Spark Investment Management LLC lifted its position in Horizon Pharma by 566.0% during the second quarter. Spark Investment Management LLC now owns 464,200 shares of the biopharmaceutical company’s stock valued at $7,687,000 after purchasing an additional 394,500 shares during the period. 87.24% of the stock is currently owned by hedge funds and other institutional investors.
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Horizon Pharma Company Profile
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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