Horizon Pharma (HZNP) Reaches New 52-Week High Following Strong Earnings

Horizon Pharma PLC (NASDAQ:HZNP) shares hit a new 52-week high during mid-day trading on Wednesday after the company announced better than expected quarterly earnings. The company traded as high as $22.22 and last traded at $22.20, with a volume of 227986 shares trading hands. The stock had previously closed at $19.35.

The biopharmaceutical company reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.15. Horizon Pharma had a negative net margin of 28.02% and a positive return on equity of 19.05%. The firm had revenue of $325.30 million during the quarter, compared to analysts’ expectations of $311.84 million. During the same period in the previous year, the company earned $0.26 EPS. The firm’s revenue for the quarter was up 19.8% compared to the same quarter last year.

Several research firms have issued reports on HZNP. TheStreet raised shares of Horizon Pharma from a “d+” rating to a “c” rating in a research report on Wednesday, October 31st. Cantor Fitzgerald boosted their price objective on shares of Horizon Pharma to $21.00 and gave the company an “overweight” rating in a research report on Wednesday, July 25th. BidaskClub cut shares of Horizon Pharma from a “buy” rating to a “hold” rating in a research report on Wednesday, September 26th. Morgan Stanley boosted their price objective on shares of Horizon Pharma from $16.00 to $24.00 and gave the company an “equal weight” rating in a research report on Friday, August 17th. Finally, JMP Securities set a $22.00 price objective on shares of Horizon Pharma and gave the company a “buy” rating in a research report on Saturday, October 6th. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $23.58.

In other Horizon Pharma news, EVP Geoffrey M. Curtis sold 9,904 shares of the business’s stock in a transaction dated Thursday, August 16th. The shares were sold at an average price of $20.63, for a total value 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 approximately $593,463.21. The transaction was disclosed in a filing with the SEC, which is available through this link. 3.90% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently made changes to their positions in HZNP. First Quadrant L P CA lifted its position in shares of Horizon Pharma by 189.1% in the 3rd quarter. First Quadrant L P CA now owns 6,117 shares of the biopharmaceutical company’s stock worth $120,000 after purchasing an additional 4,001 shares during the period. Ladenburg Thalmann Financial Services Inc. lifted its position in shares of Horizon Pharma by 74.4% in the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 9,091 shares of the biopharmaceutical company’s stock worth $128,000 after purchasing an additional 3,877 shares during the period. Quantitative Systematic Strategies LLC purchased a new stake in shares of Horizon Pharma in the 2nd quarter worth approximately $172,000. Strs Ohio lifted its position in shares of Horizon Pharma by 74.2% in the 2nd quarter. Strs Ohio now owns 10,800 shares of the biopharmaceutical company’s stock worth $178,000 after purchasing an additional 4,600 shares during the period. Finally, Inspirion Wealth Advisors LLC purchased a new stake in shares of Horizon Pharma in the 2nd quarter worth approximately $207,000. 87.24% of the stock is owned by hedge funds and other institutional investors.

The stock has a market capitalization of $3.22 billion, a price-to-earnings ratio of 18.72, a P/E/G ratio of 1.23 and a beta of 1.29. The company has a current ratio of 1.70, a quick ratio of 1.63 and a debt-to-equity ratio of 2.19.

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About Horizon Pharma (NASDAQ:HZNP)

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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