Highbridge Capital Management LLC Raises Stake in Horizon Pharma PLC (HZNP)

Highbridge Capital Management LLC boosted its position in Horizon Pharma PLC (NASDAQ:HZNP) by 128.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,545,169 shares of the biopharmaceutical company’s stock after buying an additional 867,927 shares during the period. Highbridge Capital Management LLC’s holdings in Horizon Pharma PLC were worth $22,837,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in HZNP. BlackRock Inc. increased its stake in Horizon Pharma PLC by 68,479.5% in the first quarter. BlackRock Inc. now owns 13,261,212 shares of the biopharmaceutical company’s stock worth $196,001,000 after buying an additional 13,241,875 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Horizon Pharma PLC by 4.1% in the first quarter. Vanguard Group Inc. now owns 12,749,275 shares of the biopharmaceutical company’s stock valued at $188,434,000 after buying an additional 506,596 shares in the last quarter. Deerfield Management Co. increased its stake in shares of Horizon Pharma PLC by 39.2% in the fourth quarter. Deerfield Management Co. now owns 8,956,988 shares of the biopharmaceutical company’s stock valued at $144,924,000 after buying an additional 2,522,549 shares in the last quarter. State Street Corp increased its stake in shares of Horizon Pharma PLC by 1.0% in the first quarter. State Street Corp now owns 4,382,120 shares of the biopharmaceutical company’s stock valued at $64,766,000 after buying an additional 42,142 shares in the last quarter. Finally, Alliancebernstein L.P. increased its stake in shares of Horizon Pharma PLC by 14.8% in the first quarter. Alliancebernstein L.P. now owns 4,064,995 shares of the biopharmaceutical company’s stock valued at $60,081,000 after buying an additional 525,486 shares in the last quarter. Institutional investors and hedge funds own 84.55% of the company’s stock.

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

Shares of Horizon Pharma PLC (NASDAQ:HZNP) traded up 0.88% during mid-day trading on Friday, hitting $10.29. The stock had a trading volume of 5,968,172 shares. The stock’s market cap is $1.67 billion. Horizon Pharma PLC has a 52 week low of $9.45 and a 52 week high of $23.44. The stock has a 50-day moving average price of $11.51 and a 200 day moving average price of $15.03.

Horizon Pharma PLC (NASDAQ:HZNP) last announced its earnings results on Monday, May 8th. The biopharmaceutical company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.25 by $0.04. Horizon Pharma PLC had a positive return on equity of 21.51% and a negative net margin of 21.26%. The firm had revenue of $220.90 million during the quarter, compared to the consensus estimate of $248.71 million. During the same quarter last year, the business earned $0.34 EPS. The business’s revenue was up 7.9% compared to the same quarter last year. On average, equities analysts forecast that Horizon Pharma PLC will post $0.84 EPS for the current fiscal year.

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Several analysts recently issued reports on the company. Mizuho lowered their price target on Horizon Pharma PLC from $25.00 to $22.00 and set a “buy” rating for the company in a report on Tuesday, February 28th. Cantor Fitzgerald assumed coverage on Horizon Pharma PLC in a report on Friday. They issued an “overweight” rating and a $13.00 price target for the company. Morgan Stanley reiterated an “equal weight” rating and issued a $20.00 price target on shares of Horizon Pharma PLC in a report on Tuesday, February 28th. Cowen and Company set a $20.00 price target on Horizon Pharma PLC and gave the company an “outperform” rating in a report on Tuesday, May 9th. Finally, ValuEngine downgraded Horizon Pharma PLC from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Four analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $20.77.

In related news, Director Michael G. Grey acquired 10,000 shares of the company’s stock in a transaction dated Wednesday, May 10th. The shares were bought at an average price of $9.48 per share, for a total transaction of $94,800.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 3.20% 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.

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