Horizon Pharma (HZNP) Hits New 1-Year High After Strong Earnings

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

The biopharmaceutical company reported $0.65 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate 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 for the quarter, compared to analysts’ expectations of $311.84 million. During the same quarter last year, the company posted $0.26 earnings per share. Horizon Pharma’s revenue was up 19.8% on a year-over-year basis.

A number of equities research analysts have recently weighed in on the company. Mizuho reaffirmed a “buy” rating and set a $18.00 price target on shares of Horizon Pharma in a report on Wednesday, August 8th. Jefferies Financial Group lifted their price target on Horizon Pharma from $21.00 to $23.00 and gave the company a “buy” rating in a report on Thursday, August 9th. ValuEngine raised Horizon Pharma from a “hold” rating to a “buy” rating in a report on Monday, July 30th. Cowen reaffirmed a “buy” rating and set a $25.00 price target on shares of Horizon Pharma in a report on Thursday, August 9th. Finally, Piper Jaffray Companies reaffirmed a “buy” rating and set a $25.00 price target on shares of Horizon Pharma in a report on Thursday, August 9th. Five investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $23.58.

In related news, EVP Geoffrey M. Curtis sold 9,904 shares of the firm’s stock in a transaction that occurred 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 transaction, the executive vice president now owns 28,767 shares in the company, valued at $593,463.21. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 3.90% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. increased its stake in shares of Horizon Pharma by 3.9% during the second quarter. BlackRock Inc. now owns 13,451,246 shares of the biopharmaceutical company’s stock valued at $222,753,000 after acquiring an additional 507,323 shares during the period. Renaissance Technologies LLC grew its position in Horizon Pharma by 51.1% in the second quarter. Renaissance Technologies LLC now owns 5,014,300 shares of the biopharmaceutical company’s stock worth $83,037,000 after buying an additional 1,695,700 shares during the last quarter. Eagle Asset Management Inc. acquired a new position in Horizon Pharma in the second quarter worth approximately $39,795,000. Bank of America Corp DE grew 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 buying an additional 617,595 shares during the last quarter. Finally, Northern Trust Corp grew its position in Horizon Pharma by 16.0% in the second quarter. Northern Trust Corp now owns 2,281,798 shares of the biopharmaceutical company’s stock worth $37,787,000 after buying an additional 314,156 shares during the last quarter. Institutional investors and hedge funds own 87.24% of the company’s stock.

The company has a debt-to-equity ratio of 2.19, a quick ratio of 1.63 and a current ratio of 1.70. The stock has a market capitalization of $3.22 billion, a PE ratio of 19.11, a P/E/G ratio of 1.22 and a beta of 1.29.

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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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