Horizon Pharma Inc. (HZNP) Stock Rating Lowered by Zacks Investment Research
Horizon Pharma Inc. (NASDAQ:HZNP) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Tuesday.
According to Zacks, “Horizon reported disappointing third-quarter results wherein both earnings and revenues missed estimates. The top line was hit by the settlement agreement with Express Scripts. The company’s earnings estimates for 2016 have gone down significantly post the release of its third-quarter results. Moreover, Horizon is facing the possibility of coming under the spotlight like a few of its peers as political and media focus on drug pricing increases. Meanwhile, Horizon’s marketed products face intense competition. Currently, the company is working on label expansion of drugs like Actimmune and Ravicti. Failure to gain regulatory approval for label expansions would hurt the drugs’ commercial potential. Horizon is also involved in patent litigations with quite a few companies. Subpoenas are another matter of concern. However, we are positive on Horizon’s growth-by-acquisition strategy.”
HZNP has been the subject of several other reports. Morgan Stanley set a $24.00 price objective on Horizon Pharma and gave the company a “hold” rating in a research note on Monday, September 12th. Mizuho reaffirmed a “buy” rating on shares of Horizon Pharma in a research note on Thursday, September 29th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $29.00 price objective on shares of Horizon Pharma in a research note on Wednesday, August 3rd. Piper Jaffray Cos. reaffirmed an “overweight” rating and issued a $33.00 price objective (down from $34.00) on shares of Horizon Pharma in a research note on Wednesday, August 10th. Finally, Citigroup Inc. raised their price objective on Horizon Pharma from $18.00 to $21.00 and gave the company a “neutral” rating in a research note on Tuesday, August 9th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $29.62.
Shares of Horizon Pharma (NASDAQ:HZNP) opened at 21.18 on Tuesday. Horizon Pharma has a 52 week low of $13.05 and a 52 week high of $23.44. The stock’s market capitalization is $3.42 billion. The company has a 50-day moving average price of $18.75 and a 200 day moving average price of $18.60.
Horizon Pharma (NASDAQ:HZNP) last released its quarterly earnings results on Monday, November 7th. The biopharmaceutical company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.07. The business earned $273.70 million during the quarter, compared to analysts’ expectations of $270.04 million. Horizon Pharma had a positive return on equity of 22.73% and a negative net margin of 1.34%. The firm’s revenue for the quarter was up 20.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.70 EPS. Equities analysts forecast that Horizon Pharma will post $2.02 EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently made changes to their positions in HZNP. Quantbot Technologies LP bought a new position in shares of Horizon Pharma during the third quarter worth about $112,000. Societe Generale bought a new position in shares of Horizon Pharma during the second quarter worth about $117,000. SG Americas Securities LLC bought a new position in shares of Horizon Pharma during the second quarter worth about $117,000. Nuveen Asset Management LLC bought a new position in shares of Horizon Pharma during the second quarter worth about $176,000. Finally, HL Financial Services LLC bought a new position in shares of Horizon Pharma during the third quarter worth about $196,000. Institutional investors and hedge funds own 86.91% of the company’s stock.
Horizon Pharma Company Profile
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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