Tudor Investment Corp ET AL cut its position in shares of Horizon Pharma PLC (NASDAQ:HZNP) by 80.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 20,100 shares of the biopharmaceutical company’s stock after selling 83,975 shares during the period. Tudor Investment Corp ET AL’s holdings in Horizon Pharma PLC were worth $297,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of HZNP. Russell Investments Group Ltd. acquired a new position in shares of Horizon Pharma PLC during the fourth quarter worth approximately $1,702,000. US Bancorp DE increased its position in shares of Horizon Pharma PLC by 1.2% in the first quarter. US Bancorp DE now owns 32,050 shares of the biopharmaceutical company’s stock worth $473,000 after buying an additional 368 shares in the last quarter. Morgan Stanley increased its position in shares of Horizon Pharma PLC by 59.7% in the first quarter. Morgan Stanley now owns 1,422,666 shares of the biopharmaceutical company’s stock worth $21,027,000 after buying an additional 531,882 shares in the last quarter. Graybill Bartz & Assoc Ltd. increased its position in shares of Horizon Pharma PLC by 1.6% in the first quarter. Graybill Bartz & Assoc Ltd. now owns 165,260 shares of the biopharmaceutical company’s stock worth $2,443,000 after buying an additional 2,620 shares in the last quarter. Finally, Sheaff Brock Investment Advisors LLC acquired a new position in shares of Horizon Pharma PLC during the first quarter worth approximately $148,000. 84.12% of the stock is owned by hedge funds and other institutional investors.
Shares of Horizon Pharma PLC (NASDAQ HZNP) opened at 12.87 on Friday. The stock’s 50 day moving average price is $11.73 and its 200-day moving average price is $14.15. Horizon Pharma PLC has a 12 month low of $9.45 and a 12 month high of $23.44. The firm’s market capitalization is $2.09 billion.
Horizon Pharma PLC (NASDAQ:HZNP) last released its quarterly earnings data on Monday, May 8th. The biopharmaceutical company reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by $0.04. The company had revenue of $220.90 million for the quarter, compared to analyst estimates of $248.71 million. Horizon Pharma PLC had a negative net margin of 21.26% and a positive return on equity of 21.51%. The firm’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.34 earnings per share. On average, equities analysts anticipate that Horizon Pharma PLC will post $0.84 earnings per share for the current fiscal year.
Horizon Pharma PLC announced that its board has authorized a share repurchase plan on Monday, May 8th that authorizes the company to buyback 1,000% of outstanding shares. This buyback authorization authorizes the biopharmaceutical company to purchase shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.
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A number of research analysts recently commented on HZNP shares. Cantor Fitzgerald started coverage on Horizon Pharma PLC in a report on Friday, June 16th. They issued an “overweight” rating and a $13.00 price target for the company. ValuEngine downgraded Horizon Pharma PLC from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. BMO Capital Markets reaffirmed a “buy” rating and set a $17.00 target price (down previously from $24.00) on shares of Horizon Pharma PLC in a report on Tuesday, May 9th. Jefferies Group LLC set a $26.00 target price on Horizon Pharma PLC and gave the stock a “buy” rating in a report on Wednesday, April 12th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $20.00 target price (down previously from $35.00) on shares of Horizon Pharma PLC in a report on Tuesday, May 9th. Four analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $20.43.
In related news, Director Michael G. Grey acquired 10,000 shares of the firm’s stock in a transaction on Wednesday, May 10th. The shares were bought at an average cost of $9.48 per share, with a total value of $94,800.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 3.20% of the stock is currently owned by insiders.
About Horizon Pharma PLC
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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