Bank of New York Mellon Corp decreased its stake in shares of Horizon Pharma PLC (NASDAQ:HZNP) by 12.2% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 841,164 shares of the biopharmaceutical company’s stock after selling 116,975 shares during the period. Bank of New York Mellon Corp’s holdings in Horizon Pharma were worth $13,930,000 at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in HZNP. Eagle Asset Management Inc. acquired a new stake in shares of Horizon Pharma during the 2nd quarter worth approximately $39,795,000. Carillon Tower Advisers Inc. bought a new position in shares of Horizon Pharma in the 2nd quarter worth $29,905,000. Renaissance Technologies LLC lifted its holdings in shares of Horizon Pharma by 51.1% in the 2nd quarter. Renaissance Technologies LLC now owns 5,014,300 shares of the biopharmaceutical company’s stock worth $83,037,000 after purchasing an additional 1,695,700 shares in the last quarter. Bank of America Corp DE lifted its holdings in shares of Horizon Pharma by 36.4% in 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 in the last quarter. Finally, BlackRock Inc. lifted its holdings in shares of Horizon Pharma by 3.9% in the 2nd quarter. BlackRock Inc. now owns 13,451,246 shares of the biopharmaceutical company’s stock worth $222,753,000 after purchasing an additional 507,323 shares in the last quarter. 89.27% of the stock is owned by institutional investors.
In other news, Chairman Timothy P. Walbert sold 408,347 shares of the firm’s stock in a transaction on Wednesday, November 14th. The stock was sold at an average price of $21.54, for a total transaction of $8,795,794.38. Following the completion of the sale, the chairman now directly owns 650,404 shares of the company’s stock, valued at approximately $14,009,702.16. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 3.90% of the company’s stock.
A number of brokerages recently issued reports on HZNP. TheStreet upgraded Horizon Pharma from a “d+” rating to a “c” rating in a report on Wednesday, October 31st. BidaskClub cut Horizon Pharma from a “buy” rating to a “hold” rating in a report on Wednesday, September 26th. Morgan Stanley increased their target price on Horizon Pharma from $16.00 to $24.00 and gave the stock an “equal weight” rating in a report on Friday, August 17th. JMP Securities set a $22.00 target price on Horizon Pharma and gave the stock a “buy” rating in a report on Saturday, October 6th. Finally, Piper Jaffray Companies reiterated a “buy” rating and issued a $25.00 target price on shares of Horizon Pharma in a report on Thursday, August 9th. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $23.25.
Shares of NASDAQ:HZNP opened at $20.06 on Friday. The company has a current ratio of 1.94, a quick ratio of 1.86 and a debt-to-equity ratio of 2.06. Horizon Pharma PLC has a 1-year low of $12.55 and a 1-year high of $23.38. The firm has a market cap of $3.39 billion, a price-to-earnings ratio of 17.00, a P/E/G ratio of 1.34 and a beta of 1.02.
Horizon Pharma (NASDAQ:HZNP) last issued its quarterly earnings data on Wednesday, November 7th. The biopharmaceutical company reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.15. Horizon Pharma had a positive return on equity of 27.14% and a negative net margin of 18.70%. The business had revenue of $325.30 million for the quarter, compared to analysts’ expectations of $311.84 million. During the same period last year, the business earned $0.26 EPS. The business’s revenue was up 19.8% on a year-over-year basis. As a group, sell-side analysts forecast that Horizon Pharma PLC will post 1.3 earnings per share for the current year.
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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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