Macquarie Group Ltd. Trims Position in Horizon Pharma PLC (HZNP)

Macquarie Group Ltd. lessened its holdings in Horizon Pharma PLC (NASDAQ:HZNP) by 34.9% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 19,000 shares of the biopharmaceutical company’s stock after selling 10,200 shares during the period. Macquarie Group Ltd.’s holdings in Horizon Pharma were worth $315,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Eagle Asset Management Inc. bought a new stake in Horizon Pharma in the second quarter worth $39,795,000. Principal Financial Group Inc. increased its position in Horizon Pharma by 18.3% in the first quarter. Principal Financial Group Inc. now owns 555,534 shares of the biopharmaceutical company’s stock worth $7,889,000 after purchasing an additional 85,970 shares during the last quarter. Spark Investment Management LLC increased its position in Horizon Pharma by 566.0% in the second quarter. Spark Investment Management LLC now owns 464,200 shares of the biopharmaceutical company’s stock worth $7,687,000 after purchasing an additional 394,500 shares during the last quarter. Bank of America Corp DE increased its position in Horizon Pharma by 36.4% in the second quarter. Bank of America Corp DE now owns 2,315,613 shares of the biopharmaceutical company’s stock worth $38,347,000 after purchasing an additional 617,595 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. increased its position in Horizon Pharma by 19.5% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,144,675 shares of the biopharmaceutical company’s stock worth $18,956,000 after purchasing an additional 187,186 shares during the last quarter. Institutional investors own 87.25% of the company’s stock.

Several research firms have commented on HZNP. BidaskClub raised shares of Horizon Pharma from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 10th. Cantor Fitzgerald reaffirmed a “buy” rating and set a $21.00 price objective on shares of Horizon Pharma in a research note on Thursday, September 13th. Morgan Stanley lifted their price objective on shares of Horizon Pharma from $16.00 to $24.00 and gave the stock an “equal weight” rating in a research note on Friday, August 17th. Jefferies Financial Group lifted their price objective on shares of Horizon Pharma from $21.00 to $23.00 and gave the stock a “buy” rating in a research note on Thursday, August 9th. Finally, Piper Jaffray Companies reaffirmed a “buy” rating and set a $25.00 price objective on shares of Horizon Pharma in a research note on Thursday, August 9th. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Horizon Pharma currently has a consensus rating of “Buy” and an average target price of $21.92.

In other news, EVP Geoffrey M. Curtis sold 9,904 shares of the business’s stock in a transaction on Thursday, August 16th. The shares were sold at an average price of $20.63, for a total transaction of $204,319.52. Following the completion of the sale, the executive vice president now directly owns 28,767 shares of the company’s stock, valued at $593,463.21. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.90% of the stock is currently owned by insiders.

NASDAQ HZNP opened at $18.89 on Monday. The company has a quick ratio of 1.63, a current ratio of 1.70 and a debt-to-equity ratio of 2.19. The firm has a market cap of $3.26 billion, a price-to-earnings ratio of 16.01, a PEG ratio of 1.24 and a beta of 1.40. Horizon Pharma PLC has a 52 week low of $12.55 and a 52 week high of $21.25.

Horizon Pharma (NASDAQ:HZNP) last posted its quarterly earnings data on Wednesday, August 8th. The biopharmaceutical company reported $0.48 EPS for the quarter, topping the consensus estimate of $0.31 by $0.17. The company had revenue of $302.84 million during the quarter, compared to analyst estimates of $275.51 million. Horizon Pharma had a negative net margin of 28.02% and a positive return on equity of 19.05%. Horizon Pharma’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.41 earnings per share. Analysts predict that Horizon Pharma PLC will post 1.34 EPS for the current fiscal year.

About Horizon Pharma

Horizon Pharma Public Limited Company, a biopharmaceutical company, focuses on researching, developing, and commercializing medicines that address unmet treatment needs for rare and rheumatic diseases in the United States and internationally. The company's marketed medicine portfolio consists of RAVICTI for the treatment of urea cycle disorders; PROCYSBI to treat nephropathic cystinosis; ACTIMMUNE for the treatment of chronic granulomatous disease and malignant osteopetrosis; BUPHENYL to treat urea cycle disorders; and QUINSAIR for the treatment of chronic pulmonary infections due to pseudomonas aeruginosa in cystic fibrosis patients.

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

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