Parametric Portfolio Associates LLC lowered its position in Horizon Pharma PLC (NASDAQ:HZNP) by 5.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 151,507 shares of the biopharmaceutical company’s stock after selling 8,686 shares during the period. Parametric Portfolio Associates LLC owned about 0.09% of Horizon Pharma PLC worth $2,239,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Norges Bank bought a new position in Horizon Pharma PLC during the fourth quarter worth approximately $31,467,000. Dimensional Fund Advisors LP boosted its position in Horizon Pharma PLC by 31.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,591,605 shares of the biopharmaceutical company’s stock worth $41,933,000 after buying an additional 626,300 shares during the period. Capital Fund Management S.A. boosted its position in Horizon Pharma PLC by 180.2% in the first quarter. Capital Fund Management S.A. now owns 818,015 shares of the biopharmaceutical company’s stock worth $12,090,000 after buying an additional 526,076 shares during the period. Russell Investments Group Ltd. bought a new position in Horizon Pharma PLC during the fourth quarter worth approximately $1,702,000. Finally, State Street Corp boosted its position in Horizon Pharma PLC by 2.4% in the fourth quarter. State Street Corp now owns 4,339,978 shares of the biopharmaceutical company’s stock worth $70,222,000 after buying an additional 103,434 shares during the period. 84.19% of the stock is owned by hedge funds and other institutional investors.

Horizon Pharma PLC (HZNP) traded up 2.92% during mid-day trading on Friday, reaching $12.70. 4,442,145 shares of the company’s stock were exchanged. The stock’s market cap is $2.07 billion. Horizon Pharma PLC has a one year low of $9.45 and a one year high of $23.44. The stock has a 50-day moving average of $12.12 and a 200-day moving average of $13.85.

Horizon Pharma PLC (NASDAQ:HZNP) last announced its quarterly earnings results on Monday, May 8th. The biopharmaceutical company reported $0.21 EPS for the quarter, missing the Zacks’ consensus estimate of $0.25 by $0.04. The company had revenue of $220.90 million during the quarter, compared to analysts’ expectations of $248.71 million. Horizon Pharma PLC had a positive return on equity of 21.51% and a negative net margin of 21.26%. Horizon Pharma PLC’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same period last year, the firm earned $0.34 earnings per share. On average, equities research analysts anticipate that Horizon Pharma PLC will post $0.82 earnings per share for the current year.

Horizon Pharma PLC declared that its board has initiated a stock buyback plan on Monday, May 8th that allows the company to buyback 1,000% of outstanding shares. This buyback authorization allows the biopharmaceutical company to repurchase shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

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A number of brokerages have recently issued reports on HZNP. Citigroup Inc. reduced their target price on shares of Horizon Pharma PLC from $20.00 to $13.00 and set a “buy” rating for the company in a research report on Tuesday, May 9th. BMO Capital Markets reissued a “buy” rating and issued a $17.00 target price (down previously from $24.00) on shares of Horizon Pharma PLC in a research report on Tuesday, May 9th. Jefferies Group LLC set a $26.00 target price on shares of Horizon Pharma PLC and gave the company a “buy” rating in a research report on Wednesday, April 12th. BidaskClub raised shares of Horizon Pharma PLC from a “hold” rating to a “buy” rating in a research report on Saturday, June 24th. Finally, Cantor Fitzgerald began coverage on shares of Horizon Pharma PLC in a research report on Friday, June 16th. They issued an “overweight” rating and a $13.00 target price for the company. Five research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $19.50.

In related news, Director Michael G. Grey purchased 10,000 shares of the firm’s stock in a transaction on Wednesday, May 10th. The shares were acquired at an average cost of $9.48 per share, with a total value of $94,800.00. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 3.20% of the stock is owned by insiders.

About Horizon Pharma PLC

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.

Institutional Ownership by Quarter for Horizon Pharma PLC (NASDAQ:HZNP)

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