Horizon Pharma Inc. (NASDAQ:HZNP)‘s stock had its “buy” rating reiterated by analysts at Goldman Sachs Group Inc. in a research report issued on Thursday. They currently have a $27.00 price objective on the biopharmaceutical company’s stock. Goldman Sachs Group Inc.’s target price would suggest a potential upside of 51.43% from the stock’s previous close.
Other research analysts also recently issued reports about the company. Jefferies Group reissued a “buy” rating on shares of Horizon Pharma in a report on Thursday. Mizuho reissued a “buy” rating and issued a $30.00 price target (up from $24.00) on shares of Horizon Pharma in a report on Wednesday, August 10th. Morgan Stanley raised Horizon Pharma from an “underweight” rating to an “equal weight” rating and set a $24.00 price target for the company in a report on Monday, July 11th. Vetr downgraded Horizon Pharma from a “strong-buy” rating to a “buy” rating and set a $18.42 price target for the company. in a report on Monday, May 30th. Finally, Zacks Investment Research raised Horizon Pharma from a “sell” rating to a “hold” rating in a report on Wednesday, May 11th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $29.38.
Horizon Pharma (NASDAQ:HZNP) traded up 0.79% on Thursday, hitting $17.97. The stock had a trading volume of 977,342 shares. The company’s market cap is $2.89 billion. Horizon Pharma has a 12 month low of $12.86 and a 12 month high of $32.34. The company has a 50-day moving average of $20.30 and a 200 day moving average of $17.52.
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Horizon Pharma (NASDAQ:HZNP) last announced its quarterly earnings results on Monday, August 8th. The biopharmaceutical company reported $0.62 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.50 by $0.12. The company earned $257.40 million during the quarter, compared to analyst estimates of $235.43 million. The company’s revenue was up 48.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.39 earnings per share. On average, analysts predict that Horizon Pharma will post $2.15 EPS for the current fiscal year.
In other Horizon Pharma news, EVP Jeffrey W. Sherman sold 2,900 shares of the business’s stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $20.00, for a total transaction of $58,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Virinder Nohria sold 25,000 shares of the business’s stock in a transaction on Wednesday, June 15th. The stock was sold at an average price of $17.69, for a total value of $442,250.00. Following the transaction, the director now directly owns 189,836 shares in the company, valued at approximately $3,358,198.84. The disclosure for this sale can be found here. Company insiders own 2.10% of the company’s stock.
A number of institutional investors recently added to or reduced their stakes in the company. Highland Capital Management LP raised its position in Horizon Pharma by 108.0% in the fourth quarter. Highland Capital Management LP now owns 728,807 shares of the biopharmaceutical company’s stock worth $15,793,000 after buying an additional 378,473 shares during the period. Highbridge Capital Management LLC raised its position in Horizon Pharma by 2,861.5% in the fourth quarter. Highbridge Capital Management LLC now owns 1,651,116 shares of the biopharmaceutical company’s stock worth $35,780,000 after buying an additional 1,595,364 shares during the period. Stifel Financial Corp raised its position in Horizon Pharma by 22.1% in the fourth quarter. Stifel Financial Corp now owns 271,217 shares of the biopharmaceutical company’s stock worth $5,876,000 after buying an additional 49,063 shares during the period. Norges Bank bought a new position in Horizon Pharma during the fourth quarter worth $29,651,000. Finally, Rhenman & Partners Asset Management AB raised its position in Horizon Pharma by 37.0% in the first quarter. Rhenman & Partners Asset Management AB now owns 200,000 shares of the biopharmaceutical company’s stock worth $3,314,000 after buying an additional 54,000 shares during the period. 87.68% of the stock is currently owned by institutional investors.
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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