Horizon Pharma Inc. (HZNP) Given Hold Rating at Morgan Stanley
Morgan Stanley reaffirmed their hold rating on shares of Horizon Pharma Inc. (NASDAQ:HZNP) in a report released on Wednesday morning. Morgan Stanley currently has a $24.00 target price on the biopharmaceutical company’s stock.
A number of other research analysts have also recently commented on HZNP. Citigroup Inc. assumed coverage on Horizon Pharma in a research note on Wednesday, June 1st. They set a neutral rating on the stock. Zacks Investment Research raised Horizon Pharma from a hold rating to a buy rating and set a $21.00 price objective on the stock in a research note on Monday, July 11th. Piper Jaffray Cos. reissued an overweight rating and issued a $33.00 price objective (down previously from $34.00) on shares of Horizon Pharma in a research note on Wednesday, August 10th. Vetr raised Horizon Pharma from a hold rating to a buy rating and set a $19.82 price objective on the stock in a research note on Tuesday, June 7th. Finally, Brean Capital reissued a buy rating and issued a $30.00 price objective on shares of Horizon Pharma in a research note on Tuesday, August 9th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of Buy and a consensus price target of $30.00.
Shares of Horizon Pharma (NASDAQ:HZNP) traded down 0.05% during midday trading on Wednesday, hitting $18.77. The stock had a trading volume of 789,264 shares. The company’s 50 day moving average is $19.99 and its 200 day moving average is $17.66. The company’s market cap is $3.02 billion. Horizon Pharma has a 52-week low of $12.86 and a 52-week high of $23.70.
Horizon Pharma (NASDAQ:HZNP) last released its earnings results on Monday, August 8th. The biopharmaceutical company reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.12. The firm had revenue of $257.40 million for the quarter, compared to analysts’ expectations of $235.43 million. Horizon Pharma had a positive return on equity of 23.46% and a negative net margin of 0.34%. The company’s quarterly revenue was up 48.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.39 earnings per share. On average, analysts anticipate that Horizon Pharma will post $2.15 earnings per share for the current year.
In other Horizon Pharma news, EVP Jeffrey W. Sherman sold 2,900 shares of the stock in a transaction dated Tuesday, August 2nd. The stock was sold at an average price of $20.00, for a total transaction of $58,000.00. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 2.10% of the company’s stock.
Several large investors have recently bought and sold shares of HZNP. BlackRock Fund Advisors boosted its stake in Horizon Pharma by 127.3% in the second quarter. BlackRock Fund Advisors now owns 6,678,136 shares of the biopharmaceutical company’s stock worth $109,989,000 after buying an additional 3,740,449 shares during the period. State Street Corp boosted its stake in Horizon Pharma by 149.1% in the second quarter. State Street Corp now owns 4,201,164 shares of the biopharmaceutical company’s stock worth $69,194,000 after buying an additional 2,514,430 shares during the period. Deerfield Management Co. boosted its stake in Horizon Pharma by 17.6% in the first quarter. Deerfield Management Co. now owns 13,740,261 shares of the biopharmaceutical company’s stock worth $227,676,000 after buying an additional 2,055,460 shares during the period. Fiera Capital Corp acquired a new stake in Horizon Pharma during the second quarter worth approximately $28,892,000. Finally, BlackRock Institutional Trust Company N.A. boosted its stake in Horizon Pharma by 57.1% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 3,673,204 shares of the biopharmaceutical company’s stock worth $60,498,000 after buying an additional 1,335,251 shares during the period. Hedge funds and other institutional investors own 85.25% of the company’s stock.
About Horizon Pharma
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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