Horizon Pharma PLC (HZNP) Stake Boosted by Eagle Asset Management Inc.
Eagle Asset Management Inc. lifted its stake in Horizon Pharma PLC (NASDAQ:HZNP) by 15.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 2,769,441 shares of the biopharmaceutical company’s stock after acquiring an additional 366,348 shares during the quarter. Eagle Asset Management Inc.’s holdings in Horizon Pharma were worth $54,225,000 at the end of the most recent reporting period.
Other hedge funds also recently modified their holdings of the company. First Quadrant L P CA lifted its holdings in shares of Horizon Pharma by 189.1% in the 3rd quarter. First Quadrant L P CA now owns 6,117 shares of the biopharmaceutical company’s stock worth $120,000 after acquiring an additional 4,001 shares during the last quarter. Quantitative Systematic Strategies LLC acquired a new position in shares of Horizon Pharma in the 2nd quarter worth approximately $172,000. Strs Ohio lifted its holdings in shares of Horizon Pharma by 74.2% in the 2nd quarter. Strs Ohio now owns 10,800 shares of the biopharmaceutical company’s stock worth $178,000 after acquiring an additional 4,600 shares during the last quarter. ARP Americas LP acquired a new position in shares of Horizon Pharma in the 3rd quarter worth approximately $229,000. Finally, Formidable Asset Management LLC acquired a new position in shares of Horizon Pharma in the 3rd quarter worth approximately $241,000. Hedge funds and other institutional investors own 88.64% of the company’s stock.
In other Horizon Pharma news, Chairman Timothy P. Walbert sold 408,347 shares of the stock in a transaction that occurred on Wednesday, November 14th. The shares were sold at an average price of $21.54, for a total value of $8,795,794.38. Following the sale, the chairman now directly owns 650,404 shares of the company’s stock, valued at approximately $14,009,702.16. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 3.90% of the company’s stock.
Horizon Pharma (NASDAQ:HZNP) last announced its earnings results on Wednesday, November 7th. The biopharmaceutical company reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.15. Horizon Pharma had a negative net margin of 18.70% and a positive return on equity of 27.14%. The firm had revenue of $325.30 million for the quarter, compared to the consensus estimate of $311.84 million. During the same period in the prior year, the firm earned $0.26 EPS. The firm’s revenue for the quarter was up 19.8% on a year-over-year basis. On average, research analysts forecast that Horizon Pharma PLC will post 1.3 earnings per share for the current fiscal year.
HZNP has been the topic of several recent analyst reports. Cantor Fitzgerald upped their price objective on shares of Horizon Pharma to $21.00 and gave the stock an “overweight” rating in a report on Wednesday, July 25th. ValuEngine raised shares of Horizon Pharma from a “hold” rating to a “buy” rating in a research note on Monday, July 30th. BMO Capital Markets downgraded shares of Horizon Pharma from an “outperform” rating to a “market perform” rating and set a $18.00 target price on the stock. in a research note on Monday, August 6th. Mizuho reaffirmed a “buy” rating and set a $18.00 target price on shares of Horizon Pharma in a research note on Wednesday, August 8th. Finally, Piper Jaffray Companies reaffirmed a “buy” rating and set a $25.00 target price on shares of Horizon Pharma in a research note on Thursday, August 9th. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $23.25.
Horizon Pharma Profile
Horizon Pharma Public Limited Company, a biopharmaceutical company, focuses on researching, developing, and commercializing medicines that address unmet treatment needs for rare and rheumatic diseases in the United States and internationally. The company's marketed medicine portfolio consists of RAVICTI for the treatment of urea cycle disorders; PROCYSBI to treat nephropathic cystinosis; ACTIMMUNE for the treatment of chronic granulomatous disease and malignant osteopetrosis; BUPHENYL to treat urea cycle disorders; and QUINSAIR for the treatment of chronic pulmonary infections due to pseudomonas aeruginosa in cystic fibrosis patients.
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