Horizon Pharma Inc. (HZNP) Rating Increased to Buy at Citigroup Inc.
Horizon Pharma Inc. (NASDAQ:HZNP) was upgraded by stock analysts at Citigroup Inc. from a “neutral” rating to a “buy” rating in a research report issued on Monday.
Several other equities research analysts have also weighed in on the company. Vetr raised Horizon Pharma from a “buy” rating to a “strong-buy” rating in a research note on Monday, October 3rd. Mizuho reduced their price objective on Horizon Pharma from $33.00 to $29.00 and set a “buy” rating for the company in a research note on Monday, October 31st. Guggenheim reissued a “buy” rating and set a $30.00 price objective on shares of Horizon Pharma in a research note on Tuesday, August 23rd. Goldman Sachs Group Inc. reissued a “buy” rating and set a $27.00 price objective on shares of Horizon Pharma in a research note on Tuesday, September 27th. Finally, Jefferies Group reaffirmed a “buy” rating on shares of Horizon Pharma in a research report on Thursday, September 8th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $29.62.
Shares of Horizon Pharma (NASDAQ:HZNP) opened at 21.05 on Monday. The stock’s market cap is $3.39 billion. Horizon Pharma has a 52-week low of $13.05 and a 52-week high of $23.44. The firm’s 50-day moving average price is $18.75 and its 200-day moving average price is $18.60.
Horizon Pharma (NASDAQ:HZNP) last released its quarterly earnings data on Monday, November 7th. The biopharmaceutical company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.07. The business earned $273.70 million during the quarter, compared to analyst estimates of $270.04 million. Horizon Pharma had a positive return on equity of 22.73% and a negative net margin of 1.34%. The company’s revenue was up 20.8% compared to the same quarter last year. During the same period last year, the company posted $0.70 EPS. On average, equities research analysts forecast that Horizon Pharma will post $2.02 earnings per share for the current fiscal year.
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Institutional investors have recently bought and sold shares of the stock. BlackRock Fund Advisors raised its position 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 valued at $109,989,000 after buying an additional 3,740,449 shares during the period. Consonance Capital Management LP bought a new position in Horizon Pharma during the third quarter valued at $67,061,000. State Street Corp raised its position 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 valued at $69,194,000 after buying an additional 2,514,430 shares during the period. Fiera Capital Corp bought a new position in Horizon Pharma during the second quarter valued at $28,892,000. Finally, Eagle Asset Management Inc. bought a new position in Horizon Pharma during the third quarter valued at $26,527,000. Institutional investors own 86.91% 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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