Horizon Pharma Inc. (NASDAQ:HZNP) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research 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 research analysts also recently issued reports on the stock. Guggenheim reissued a “buy” rating and set a $30.00 price objective on shares of Horizon Pharma in a research report on Monday, August 1st. Brean Capital reissued a “buy” rating on shares of Horizon Pharma in a research report on Tuesday, August 2nd. Mizuho reissued an “outperform” rating and set a $24.00 price objective on shares of Horizon Pharma in a research report on Wednesday, August 3rd. BMO Capital Markets reissued an “outperform” rating and set a $29.00 price objective on shares of Horizon Pharma in a research report on Wednesday, August 3rd. Finally, Jefferies Group reissued a “buy” rating and set a $27.00 price objective on shares of Horizon Pharma in a research report on Thursday, August 4th. 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 assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $29.62.
Horizon Pharma (NASDAQ:HZNP) opened at 21.18 on Tuesday. Horizon Pharma has a 1-year low of $13.05 and a 1-year high of $23.44. The firm has a 50 day moving average of $18.75 and a 200-day moving average of $18.60. The company’s market capitalization is $3.42 billion.
Horizon Pharma (NASDAQ:HZNP) last announced its quarterly earnings data on Monday, November 7th. The biopharmaceutical company reported $0.70 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.63 by $0.07. The firm earned $273.70 million during the quarter, compared to analyst estimates of $270.04 million. Horizon Pharma had a negative net margin of 1.34% and a positive return on equity of 22.73%. The business’s quarterly revenue was up 20.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.70 EPS. On average, equities research analysts anticipate that Horizon Pharma will post $2.02 earnings per share for the current fiscal year.
A number of institutional investors have recently bought and sold shares of HZNP. Quantbot Technologies LP bought a new position in Horizon Pharma during the third quarter valued at about $112,000. Societe Generale bought a new position in Horizon Pharma during the second quarter valued at about $117,000. SG Americas Securities LLC bought a new position in Horizon Pharma during the second quarter valued at about $117,000. Nuveen Asset Management LLC bought a new position in Horizon Pharma during the second quarter valued at about $176,000. Finally, HL Financial Services LLC bought a new position in Horizon Pharma during the third quarter valued at about $196,000. Institutional investors and hedge funds own 86.91% of the company’s stock.
Horizon Pharma Company Profile
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.