Horizon Pharma Inc. (HZNP) Sees Large Volume Increase
Shares of Horizon Pharma Inc. (NASDAQ:HZNP) saw unusually-strong trading volume on Monday . Approximately 9,433,987 shares changed hands during mid-day trading, an increase of 175% from the previous session’s volume of 3,429,418 shares.The stock last traded at $18.89 and had previously closed at $19.29.
Several equities research analysts have issued reports on HZNP shares. Zacks Investment Research downgraded Horizon Pharma from a “buy” rating to a “hold” rating in a report on Wednesday, April 20th. Vetr downgraded Horizon Pharma from a “strong-buy” rating to a “buy” rating and set a $19.44 price objective for the company. in a report on Monday, April 4th. Piper Jaffray Cos. reiterated an “overweight” rating and set a $34.00 price objective (down from $44.00) on shares of Horizon Pharma in a report on Tuesday, May 10th. Stifel Nicolaus reiterated a “buy” rating and set a $45.00 price objective on shares of Horizon Pharma in a report on Wednesday, July 6th. Finally, Morgan Stanley upgraded Horizon Pharma from an “underweight” rating to an “equal weight” rating and set a $24.00 price objective for the company in a report on Monday, July 11th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $28.46.
The firm has a market capitalization of $3.03 billion and a P/E ratio of 245.32. The stock’s 50 day moving average price is $17.91 and its 200-day moving average price is $16.93.
Horizon Pharma (NASDAQ:HZNP) last announced its quarterly earnings data on Monday, May 9th. The biopharmaceutical company reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.04. The business earned $204.70 million during the quarter, compared to analyst estimates of $197.73 million. The firm’s revenue for the quarter was up 80.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.18 earnings per share. Equities analysts anticipate that Horizon Pharma Inc. will post $2.35 EPS for the current year.
In related news, Director Virinder Nohria sold 25,000 shares of the business’s stock in a transaction dated Wednesday, June 15th. The stock was sold at an average price of $17.69, for a total value of $442,250.00. Following the completion of the sale, the director now directly owns 189,836 shares of the company’s stock, valued at approximately $3,358,198.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.
A number of hedge funds have recently modified their holdings of HZNP. Deere & Co. purchased a new stake in shares of Horizon Pharma during the fourth quarter worth approximately $1,873,000. Airain ltd purchased a new stake in shares of Horizon Pharma during the fourth quarter worth approximately $2,123,000. Redwood Investments LLC raised its stake in shares of Horizon Pharma by 43.8% in the fourth quarter. Redwood Investments LLC now owns 111,682 shares of the biopharmaceutical company’s stock worth $2,420,000 after buying an additional 34,008 shares during the last quarter. Systematic Financial Management LP raised its stake in shares of Horizon Pharma by 100.4% in the fourth quarter. Systematic Financial Management LP now owns 152,340 shares of the biopharmaceutical company’s stock worth $3,301,000 after buying an additional 76,335 shares during the last quarter. Finally, Zweig DiMenna Associates LLC raised its stake in shares of Horizon Pharma by 1,466.9% in the fourth quarter. Zweig DiMenna Associates LLC now owns 433,250 shares of the biopharmaceutical company’s stock worth $9,389,000 after buying an additional 405,600 shares during the last quarter.
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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