Renaissance Technologies LLC raised its stake in Horizon Pharma PLC (NASDAQ:HZNP) by 20.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,020,575 shares of the biopharmaceutical company’s stock after acquiring an additional 1,006,275 shares during the quarter. Renaissance Technologies LLC owned about 3.59% of Horizon Pharma worth $117,883,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in HZNP. Principal Financial Group Inc. lifted its holdings in Horizon Pharma by 18.3% in the 1st quarter. Principal Financial Group Inc. now owns 555,534 shares of the biopharmaceutical company’s stock valued at $7,889,000 after purchasing an additional 85,970 shares in the last quarter. Bank of Montreal Can raised its holdings in shares of Horizon Pharma by 6,596.4% during the 2nd quarter. Bank of Montreal Can now owns 168,750 shares of the biopharmaceutical company’s stock worth $2,794,000 after acquiring an additional 166,230 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in shares of Horizon Pharma by 15.9% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 110,226 shares of the biopharmaceutical company’s stock worth $1,825,000 after acquiring an additional 15,098 shares during the period. Aperio Group LLC purchased a new position in shares of Horizon Pharma during the 2nd quarter worth $272,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Horizon Pharma by 40.6% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 61,775 shares of the biopharmaceutical company’s stock worth $1,023,000 after acquiring an additional 17,850 shares during the period. 89.27% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NASDAQ:HZNP opened at $19.65 on Friday. The company has a debt-to-equity ratio of 2.06, a current ratio of 1.94 and a quick ratio of 1.86. The stock has a market cap of $3.36 billion, a P/E ratio of 16.65, a price-to-earnings-growth ratio of 1.33 and a beta of 1.02. Horizon Pharma PLC has a 12-month low of $12.55 and a 12-month high of $23.38.
Horizon Pharma (NASDAQ:HZNP) last issued its quarterly earnings data on Wednesday, November 7th. The biopharmaceutical company reported $0.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.15. The firm had revenue of $325.30 million during the quarter, compared to the consensus estimate of $311.84 million. Horizon Pharma had a positive return on equity of 27.14% and a negative net margin of 18.70%. The company’s quarterly revenue was up 19.8% on a year-over-year basis. During the same period last year, the company earned $0.26 EPS. On average, sell-side analysts forecast that Horizon Pharma PLC will post 1.3 EPS for the current year.
Several research firms have recently commented on HZNP. Mizuho lowered Horizon Pharma from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $25.00 to $21.00 in a report on Thursday, November 15th. BidaskClub upgraded Horizon Pharma from a “buy” rating to a “strong-buy” rating in a report on Friday, August 10th. TheStreet upgraded Horizon Pharma from a “c” rating to a “b-” rating in a report on Tuesday, November 20th. Cantor Fitzgerald reiterated a “buy” rating and set a $21.00 price target on shares of Horizon Pharma in a report on Thursday, September 13th. Finally, Morgan Stanley lifted their price target on Horizon Pharma from $16.00 to $24.00 and gave the stock an “equal weight” rating in a report on Friday, August 17th. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Horizon Pharma presently has a consensus rating of “Buy” and a consensus price target of $23.25.
In related news, Chairman Timothy P. Walbert sold 408,347 shares of the firm’s stock in a transaction dated 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.90% of the stock is currently owned by company insiders.
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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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