Horizon Pharma Inc. (HZNP) Receives “Outperform” Rating from BMO Capital Markets

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Horizon Pharma Inc. (NASDAQ:HZNP)‘s stock had its “outperform” rating reiterated by analysts at BMO Capital Markets in a report released on Tuesday. They presently have a $30.00 price objective on the biopharmaceutical company’s stock. BMO Capital Markets’ target price suggests a potential upside of 56.58% from the stock’s current price.
HZNP has been the topic of several other research reports. Morgan Stanley set a $24.00 price target on shares of Horizon Pharma and gave the company a “hold” rating in a research report on Monday. Vetr raised shares of Horizon Pharma from a “buy” rating to a “strong-buy” rating and set a $21.00 price target on the stock in a research report on Monday, June 13th. Piper Jaffray Cos. reaffirmed an “overweight” rating and issued a $33.00 price target (down previously from $34.00) on shares of Horizon Pharma in a research report on Wednesday, August 10th. Citigroup Inc. raised their price target on shares of Horizon Pharma from $18.00 to $21.00 and gave the company a “neutral” rating in a research report on Tuesday, August 9th. Finally, Goldman Sachs Group Inc. reaffirmed a “buy” rating and issued a $27.00 price target on shares of Horizon Pharma in a research report on Thursday, September 8th. One analyst has rated the stock with a sell rating, three have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $30.00.
Horizon Pharma (NASDAQ:HZNP) traded up 1.43% during trading on Tuesday, hitting $19.16. The stock had a trading volume of 5,546,138 shares. Horizon Pharma has a 1-year low of $12.86 and a 1-year high of $32.34. The firm’s market capitalization is $3.08 billion. The firm has a 50 day moving average price of $20.21 and a 200-day moving average price of $17.50.

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Horizon Pharma (NASDAQ:HZNP) last issued its earnings results on Monday, August 8th. The biopharmaceutical company reported $0.62 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.50 by $0.12. The company earned $257.40 million during the quarter, compared to the consensus estimate of $235.43 million. Horizon Pharma had a positive return on equity of 23.46% and a negative net margin of 0.34%. The firm’s revenue for the quarter was up 48.9% compared to the same quarter last year. During the same period last year, the business posted $0.39 EPS. On average, equities research analysts expect that Horizon Pharma will post $2.15 EPS for the current year.
In related news, EVP Jeffrey W. Sherman sold 2,900 shares of Horizon Pharma stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $20.00, for a total value of $58,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Virinder Nohria sold 25,000 shares of Horizon Pharma stock in a transaction that occurred on Wednesday, June 15th. The shares were sold at an average price of $17.69, for a total transaction of $442,250.00. Following the completion of the transaction, the director now owns 189,836 shares of the company’s stock, valued at $3,358,198.84. The disclosure for this sale can be found here. 2.10% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HZNP. BlackRock Fund Advisors raised its position in Horizon Pharma by 127.3% in the second quarter. BlackRock Fund Advisors now owns 6,678,136 shares of the biopharmaceutical company’s stock worth $109,989,000 after buying an additional 3,740,449 shares in the last quarter. State Street Corp raised its position in Horizon Pharma by 149.1% in the second quarter. State Street Corp now owns 4,201,164 shares of the biopharmaceutical company’s stock worth $69,194,000 after buying an additional 2,514,430 shares in the last quarter. Deerfield Management Co. raised its position in Horizon Pharma by 17.6% in the first quarter. Deerfield Management Co. now owns 13,740,261 shares of the biopharmaceutical company’s stock worth $227,676,000 after buying an additional 2,055,460 shares in the last quarter. Fiera Capital Corp acquired a new position in Horizon Pharma during the second quarter worth $28,892,000. Finally, Norges Bank acquired a new position in Horizon Pharma during the fourth quarter worth $29,651,000. Institutional investors and hedge funds own 85.25% of the company’s stock.
About Horizon Pharma
Horizon Pharma plc, formerly Vidara Therapeutics International Public Limited Company, is a biopharmaceutical company. The Company is focused on identifying, developing, acquiring or in-licensing and commercializing differentiated products. It markets approximately nine medicines through its orphan, primary care and rheumatology business units.

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