Horizon Pharma PLC (NASDAQ:HZNP) Given a $16.00 Price Target by UBS AG Analysts
Horizon Pharma PLC (NASDAQ:HZNP) received a $16.00 price target from stock analysts at UBS AG in a research report issued to clients and investors on Tuesday. The firm presently has a “buy” rating on the biopharmaceutical company’s stock. UBS AG’s target price would suggest a potential upside of 20.30% from the stock’s current price.
Several other analysts also recently commented on the company. 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 note on Tuesday, May 9th. BMO Capital Markets reaffirmed a “buy” rating and set a $17.00 price objective (down from $24.00) on shares of Horizon Pharma PLC in a research note on Tuesday, May 9th. Jefferies Group LLC set a $26.00 price objective on Horizon Pharma PLC and gave the company a “buy” rating in a research note on Wednesday, April 12th. BidaskClub raised Horizon Pharma PLC from a “hold” rating to a “buy” rating in a research note on Saturday, June 24th. Finally, Cantor Fitzgerald started coverage on Horizon Pharma PLC in a research note on Friday, June 16th. They set an “overweight” rating and a $13.00 price objective for the company. Five analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $19.57.
Horizon Pharma PLC (NASDAQ HZNP) traded up 2.03% during mid-day trading on Tuesday, reaching $13.57. The company had a trading volume of 539,713 shares. The company’s market capitalization is $2.21 billion. Horizon Pharma PLC has a 12 month low of $9.45 and a 12 month high of $23.44. The firm’s 50 day moving average price is $12.12 and its 200-day moving average price is $13.85.
Horizon Pharma PLC (NASDAQ:HZNP) last posted its quarterly earnings data on Monday, August 7th. The biopharmaceutical company reported $0.41 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.12 by $0.29. The firm had revenue of $289.51 million during the quarter, compared to the consensus estimate of $237.01 million. Horizon Pharma PLC had a positive return on equity of 21.51% and a negative net margin of 21.26%. The firm’s revenue was up 12.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.56 EPS. Equities research analysts anticipate that Horizon Pharma PLC will post $0.99 earnings per share for the current year.
Horizon Pharma PLC announced that its board has authorized a share repurchase program on Monday, May 8th that permits the company to repurchase 1,000% of outstanding shares. This repurchase authorization permits the biopharmaceutical company to buy shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.
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In other news, Director Michael G. Grey purchased 10,000 shares of the stock in a transaction that occurred on Wednesday, May 10th. The shares were acquired at an average price of $9.48 per share, for a total transaction of $94,800.00. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 3.20% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. Morgan Stanley boosted its stake in Horizon Pharma PLC by 59.7% in the first quarter. Morgan Stanley now owns 1,422,666 shares of the biopharmaceutical company’s stock worth $21,027,000 after buying an additional 531,882 shares in the last quarter. US Bancorp DE boosted its stake in Horizon Pharma PLC by 1.2% in the first quarter. US Bancorp DE now owns 32,050 shares of the biopharmaceutical company’s stock worth $473,000 after buying an additional 368 shares in the last quarter. Graybill Bartz & Assoc Ltd. boosted its stake in Horizon Pharma PLC by 1.6% in the first quarter. Graybill Bartz & Assoc Ltd. now owns 165,260 shares of the biopharmaceutical company’s stock worth $2,443,000 after buying an additional 2,620 shares in the last quarter. Sheaff Brock Investment Advisors LLC purchased a new stake in Horizon Pharma PLC during the first quarter worth $148,000. Finally, Wellington Management Group LLP purchased a new stake in Horizon Pharma PLC during the first quarter worth $730,000. Institutional investors and hedge funds own 82.95% of the company’s stock.
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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