Stoneridge Investment Partners LLC Acquires Shares of 19,948 Horizon Pharma PLC (HZNP)
Stoneridge Investment Partners LLC acquired a new stake in Horizon Pharma PLC (NASDAQ:HZNP) during the second quarter, Holdings Channel reports. The firm acquired 19,948 shares of the biopharmaceutical company’s stock, valued at approximately $237,000.
Several other large investors also recently added to or reduced their stakes in HZNP. Bank of Montreal Can raised its stake 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 valued at $116,000 after buying an additional 1,378 shares in the last quarter. Sheaff Brock Investment Advisors LLC bought a new stake in Horizon Pharma PLC during the first quarter valued at $148,000. Massachusetts Financial Services Co. MA bought a new stake in Horizon Pharma PLC during the first quarter valued at $151,000. Stevens Capital Management LP bought a new stake in Horizon Pharma PLC during the first quarter valued at $173,000. Finally, First Mercantile Trust Co. raised its stake in Horizon Pharma PLC by 2.7% in the first quarter. First Mercantile Trust Co. now owns 11,770 shares of the biopharmaceutical company’s stock valued at $174,000 after buying an additional 310 shares in the last quarter. 82.95% of the stock is owned by institutional investors and hedge funds.
Shares of Horizon Pharma PLC (NASDAQ HZNP) opened at 12.08 on Friday. The stock has a 50 day moving average price of $12.44 and a 200 day moving average price of $13.66. The firm’s market cap is $1.97 billion. Horizon Pharma PLC has a 12 month low of $9.45 and a 12 month high of $23.44.
Horizon Pharma PLC (NASDAQ:HZNP) last announced its quarterly earnings results on Monday, August 7th. The biopharmaceutical company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.29. Horizon Pharma PLC had a negative net margin of 42.40% and a positive return on equity of 22.85%. The company had revenue of $289.51 million during the quarter, compared to analyst estimates of $237.01 million. During the same quarter in the previous year, the business earned $0.56 EPS. The firm’s revenue was up 12.5% on a year-over-year basis. On average, equities research analysts expect that Horizon Pharma PLC will post $1.07 EPS for the current year.
Horizon Pharma PLC declared that its Board of Directors has initiated a stock repurchase plan on Monday, May 8th that permits the company to repurchase 1,000% of shares. This repurchase authorization permits the biopharmaceutical company to buy shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its shares are undervalued.
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Several equities research analysts have recently weighed in on the company. Piper Jaffray Companies set a $18.00 price objective on Horizon Pharma PLC and gave the stock a “buy” rating in a research note on Monday, August 7th. Cowen and Company set a $20.00 price objective on Horizon Pharma PLC and gave the stock an “outperform” rating in a research note on Tuesday, May 9th. BidaskClub lowered Horizon Pharma PLC from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Mizuho lowered Horizon Pharma PLC from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $22.00 to $10.00 in a research note on Tuesday, May 9th. Finally, Jefferies Group LLC set a $14.00 price objective on Horizon Pharma PLC and gave the stock a “buy” rating in a research note on Tuesday, May 9th. Five equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $19.46.
Horizon Pharma PLC Company Profile
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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