Horizon Pharma Inc. (HZNP) Stock Rating Lowered by Zacks Investment Research
Horizon Pharma Inc. (NASDAQ:HZNP) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a report issued on Tuesday.
According to Zacks, “Horizon reported disappointing third-quarter results wherein both earnings and revenues missed estimates. The top line was hit by the settlement agreement with Express Scripts. The company’s earnings estimates for 2016 have gone down significantly post the release of its third-quarter results. Moreover, Horizon is facing the possibility of coming under the spotlight like a few of its peers as political and media focus on drug pricing increases. Meanwhile, Horizon’s marketed products face intense competition. Currently, the company is working on label expansion of drugs like Actimmune and Ravicti. Failure to gain regulatory approval for label expansions would hurt the drugs’ commercial potential. Horizon is also involved in patent litigations with quite a few companies. Subpoenas are another matter of concern. However, we are positive on Horizon’s growth-by-acquisition strategy.”
A number of other equities research analysts also recently commented on the company. BMO Capital Markets reaffirmed an “outperform” rating and set a $29.00 target price on shares of Horizon Pharma in a report on Monday. Citigroup Inc. raised Horizon Pharma from a “neutral” rating to a “buy” rating in a report on Monday. Mizuho boosted their price target on Horizon Pharma from $29.00 to $30.00 and gave the company a “buy” rating in a report on Tuesday, November 8th. Goldman Sachs Group Inc. set a $26.00 price target on Horizon Pharma and gave the company a “buy” rating in a report on Wednesday, October 12th. Finally, Vetr raised Horizon Pharma from a “buy” rating to a “strong-buy” rating in a report on Monday, October 3rd. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $29.62.
Horizon Pharma (NASDAQ:HZNP) opened at 19.80 on Tuesday. The stock’s market capitalization is $3.19 billion. The company has a 50 day moving average of $18.75 and a 200-day moving average of $18.60. Horizon Pharma has a 12-month low of $13.05 and a 12-month high of $23.44.
Horizon Pharma (NASDAQ:HZNP) last released its earnings results on Monday, November 7th. The biopharmaceutical company reported $0.70 EPS for the quarter, topping the Zacks’ consensus estimate of $0.63 by $0.07. Horizon Pharma had a positive return on equity of 22.73% and a negative net margin of 1.34%. The firm earned $273.70 million during the quarter, compared to the consensus estimate of $270.04 million. During the same quarter in the previous year, the company posted $0.70 earnings per share. The company’s revenue was up 20.8% compared to the same quarter last year. On average, equities research analysts forecast that Horizon Pharma will post $2.02 earnings per share for the current year.
Several hedge funds have recently modified their holdings of HZNP. Quantbot Technologies LP purchased a new stake in shares of Horizon Pharma during the third quarter valued at approximately $112,000. Societe Generale purchased a new stake in shares of Horizon Pharma during the second quarter valued at approximately $117,000. SG Americas Securities LLC purchased a new stake in shares of Horizon Pharma during the second quarter valued at approximately $117,000. Nuveen Asset Management LLC purchased a new stake in shares of Horizon Pharma during the second quarter valued at approximately $176,000. Finally, Profund Advisors LLC purchased a new stake in shares of Horizon Pharma during the second quarter valued at approximately $194,000. Hedge funds and other institutional investors own 86.91% of the company’s stock.
About Horizon Pharma
Horizon Pharma plc, formerly Vidara Therapeutics International Public Limited Company, is a biopharmaceutical company. The Company is focused on identifying, developing, acquiring or in-licensing and commercializing differentiated products. It markets approximately nine medicines through its orphan, primary care and rheumatology business units.
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