BMO Capital Markets Reiterates “Outperform” Rating for Horizon Pharma PLC (HZNP)

BMO Capital Markets reaffirmed their outperform rating on shares of Horizon Pharma PLC (NASDAQ:HZNP) in a research report report published on Thursday. The brokerage currently has a $18.00 price objective on the biopharmaceutical company’s stock, up from their prior price objective of $17.00.

HZNP has been the subject of a number of other reports. Piper Jaffray Companies set a $18.00 price target on shares of Horizon Pharma PLC and gave the company a buy rating in a research report on Monday. Cowen and Company set a $20.00 price target on shares of Horizon Pharma PLC and gave the company an outperform rating in a research report on Tuesday, May 9th. BidaskClub downgraded shares of Horizon Pharma PLC from a buy rating to a hold rating in a research report on Monday, July 31st. Mizuho downgraded shares of Horizon Pharma PLC from a buy rating to a neutral rating and dropped their price target for the company from $22.00 to $10.00 in a research report on Tuesday, May 9th. Finally, Jefferies Group LLC set a $14.00 price target on shares of Horizon Pharma PLC and gave the company a buy rating in a research report on Tuesday, May 9th. Five research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. Horizon Pharma PLC has a consensus rating of Buy and a consensus price target of $19.46.

Shares of Horizon Pharma PLC (NASDAQ:HZNP) traded up 4.68% during trading on Thursday, hitting $12.08. The stock had a trading volume of 5,287,450 shares. The stock’s market capitalization is $1.97 billion. The stock’s 50-day moving average is $12.44 and its 200-day moving average is $13.66. Horizon Pharma PLC has a 12-month low of $9.45 and a 12-month high of $23.44.

Horizon Pharma PLC (NASDAQ:HZNP) last released its quarterly earnings results on Monday, August 7th. The biopharmaceutical company reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.29. Horizon Pharma PLC had a negative net margin of 42.40% and a positive return on equity of 22.85%. The company had revenue of $289.51 million during the quarter, compared to the consensus estimate of $237.01 million. During the same period in the previous year, the business earned $0.56 earnings per share. The firm’s quarterly revenue was up 12.5% on a year-over-year basis. Analysts predict that Horizon Pharma PLC will post $1.07 EPS for the current fiscal year.

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Horizon Pharma PLC declared that its Board of Directors has initiated a stock repurchase program on Monday, May 8th that authorizes the company to buyback 1,000% of shares. This buyback authorization authorizes the biopharmaceutical company to purchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.

Hedge funds and other institutional investors have recently made changes to their positions in the company. American Century Companies Inc. increased its position in shares of Horizon Pharma PLC by 12.4% in the first quarter. American Century Companies Inc. now owns 547,464 shares of the biopharmaceutical company’s stock valued at $8,092,000 after buying an additional 60,356 shares during the period. Searle & CO. bought a new position in shares of Horizon Pharma PLC during the first quarter valued at about $781,000. C WorldWide Group Holding A S increased its position in shares of Horizon Pharma PLC by 16.6% in the first quarter. C WorldWide Group Holding A S now owns 330,709 shares of the biopharmaceutical company’s stock valued at $4,888,000 after buying an additional 47,069 shares during the period. Bowling Portfolio Management LLC bought a new position in shares of Horizon Pharma PLC during the first quarter valued at about $616,000. Finally, Adams Diversified Equity Fund Inc. increased its position in shares of Horizon Pharma PLC by 57.7% in the first quarter. Adams Diversified Equity Fund Inc. now owns 48,100 shares of the biopharmaceutical company’s stock valued at $711,000 after buying an additional 17,600 shares during the period. Institutional investors own 82.95% of the company’s stock.

Horizon Pharma PLC Company Profile

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.

Analyst Recommendations for Horizon Pharma PLC (NASDAQ:HZNP)

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