Horizon Pharma PLC (NASDAQ:HZNP) Announces Earnings Results, Beats Expectations By $0.29 EPS
Horizon Pharma PLC (NASDAQ:HZNP) posted its quarterly earnings data on Monday. The biopharmaceutical company reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.29, Bloomberg Earnings reports. The company had revenue of $289.51 million during the quarter, compared to analysts’ expectations of $237.01 million. Horizon Pharma PLC had a positive return on equity of 21.51% and a negative net margin of 21.26%. Horizon Pharma PLC’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.56 earnings per share.
Shares of Horizon Pharma PLC (NASDAQ HZNP) opened at 13.30 on Tuesday. The firm’s 50-day moving average price is $12.12 and its 200 day moving average price is $13.85. Horizon Pharma PLC has a 12-month low of $9.45 and a 12-month high of $23.44. The company’s market cap is $2.16 billion.
In related news, Director Michael G. Grey acquired 10,000 shares of Horizon Pharma PLC stock in a transaction on Wednesday, May 10th. The stock was acquired at an average price of $9.48 per share, for a total transaction of $94,800.00. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 3.20% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the stock. Bank of Montreal Can raised its position in Horizon Pharma PLC by 16.3% in the second quarter. Bank of Montreal Can now owns 9,809 shares of the biopharmaceutical company’s stock worth $116,000 after buying an additional 1,378 shares during the last quarter. Ballentine Partners LLC bought a new position in Horizon Pharma PLC during the second quarter worth $139,000. Sheaff Brock Investment Advisors LLC bought a new position in Horizon Pharma PLC during the first quarter worth $148,000. Massachusetts Financial Services Co. MA bought a new position in Horizon Pharma PLC during the first quarter worth $151,000. Finally, Teacher Retirement System of Texas raised its position in Horizon Pharma PLC by 12.8% in the second quarter. Teacher Retirement System of Texas now owns 12,941 shares of the biopharmaceutical company’s stock worth $154,000 after buying an additional 1,466 shares during the last quarter. Institutional investors and hedge funds own 82.95% of the company’s stock.
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Horizon Pharma PLC announced that its board has initiated a stock buyback plan on Monday, May 8th that authorizes the company to buyback 1,000% of shares. This buyback authorization authorizes the biopharmaceutical company to buy shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.
HZNP has been the subject of a number of research reports. Piper Jaffray Companies set a $17.00 price objective on Horizon Pharma PLC and gave the company a “buy” rating in a research report on Tuesday, July 25th. BidaskClub upgraded Horizon Pharma PLC from a “hold” rating to a “buy” rating in a research report on Saturday, June 24th. Citigroup Inc. reduced their price objective on Horizon Pharma PLC from $20.00 to $13.00 and set a “buy” rating for the company in a research report on Tuesday, May 9th. Cantor Fitzgerald set a $13.00 price objective on Horizon Pharma PLC and gave the company a “buy” rating in a research report on Monday, July 31st. Finally, UBS AG set a $16.00 price objective on Horizon Pharma PLC and gave the company a “buy” rating in a research report on Wednesday, June 7th. Five equities research analysts have rated the stock with 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 target price of $19.57.
About Horizon Pharma PLC
Horizon Pharma Public Limited Company is a biopharmaceutical company. The Company is focused on identifying, developing, acquiring and commercializing differentiated and accessible medicines that address unmet medical needs. As of December 31, 2016, the Company marketed 11 medicines through its orphan, rheumatology and primary care business units.
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