Horizon Pharma (NASDAQ:HZNP) announced its earnings results on Wednesday. The biopharmaceutical company reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.15, Briefing.com reports. The business had revenue of $325.30 million during the quarter, compared to analyst estimates of $311.84 million. Horizon Pharma had a negative net margin of 28.02% and a positive return on equity of 19.05%. The company’s quarterly revenue was up 19.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.26 EPS. Horizon Pharma updated its FY 2018 guidance to EPS.
Shares of HZNP stock traded up $3.09 during mid-day trading on Wednesday, reaching $22.44. 5,191,143 shares of the company’s stock traded hands, compared to its average volume of 1,660,080. Horizon Pharma has a 12 month low of $12.55 and a 12 month high of $21.25. The company has a debt-to-equity ratio of 2.19, a current ratio of 1.70 and a quick ratio of 1.63. The company has a market cap of $3.22 billion, a price-to-earnings ratio of 19.02, a PEG ratio of 1.22 and a beta of 1.29.
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 owns 28,767 shares of the company’s stock, valued at approximately $593,463.21. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 3.90% of the company’s stock.
A number of institutional investors have recently modified their holdings of the stock. BlackRock Inc. boosted its holdings in Horizon Pharma by 3.9% in the 2nd quarter. BlackRock Inc. now owns 13,451,246 shares of the biopharmaceutical company’s stock worth $222,753,000 after buying an additional 507,323 shares during the period. Renaissance Technologies LLC boosted its holdings in Horizon Pharma by 51.1% in the 2nd 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 period. Eagle Asset Management Inc. bought a new position in Horizon Pharma in the 2nd quarter worth $39,795,000. Bank of America Corp DE boosted its holdings in Horizon Pharma by 36.4% in the 2nd 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 period. Finally, Northern Trust Corp boosted its holdings in Horizon Pharma by 16.0% in the 2nd 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 period. 87.24% of the stock is owned by institutional investors.
A number of equities research analysts have recently issued reports on HZNP shares. Zacks Investment Research raised shares of Horizon Pharma from a “hold” rating to a “buy” rating and set a $19.00 price objective for the company in a research report on Tuesday, July 10th. BidaskClub raised shares of Horizon Pharma from a “hold” rating to a “buy” rating in a research report on Friday, July 20th. 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. ValuEngine raised shares of Horizon Pharma from a “hold” rating to a “buy” rating in a research report on Monday, July 30th. Finally, BMO Capital Markets downgraded shares of Horizon Pharma from an “outperform” rating to a “market perform” rating and set a $18.00 price objective for the company. in a research report on Monday, August 6th. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $23.58.
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Horizon Pharma Company Profile
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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