Horizon Pharma PLC (HZNP) Trading Down 1.9% on Disappointing Earnings

Horizon Pharma PLC (NASDAQ:HZNP) shares fell 1.9% during mid-day trading on Tuesday after the company announced weaker than expected quarterly earnings. The company traded as low as $10.02 and last traded at $9.92, with a volume of 4,978,907 shares changing hands. The stock had previously closed at $10.12.

The biopharmaceutical company reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by $0.04. Horizon Pharma PLC had a positive return on equity of 22.73% and a negative net margin of 1.34%. The company had revenue of $220.90 million for the quarter, compared to the consensus estimate of $248.71 million. During the same quarter last year, the firm posted $0.34 earnings per share. The firm’s quarterly revenue was up 7.9% compared to the same quarter last year.

A number of research firms have commented on HZNP. Cowen and Company set a $20.00 price target on shares of Horizon Pharma PLC and gave the stock an “outperform” rating in a research report on Tuesday, May 9th. Mizuho downgraded shares of Horizon Pharma PLC from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $22.00 to $10.00 in a research report on Tuesday, May 9th. Jefferies Group LLC set a $14.00 target price on shares of Horizon Pharma PLC and gave the stock a “buy” rating in a report on Tuesday, May 9th. Zacks Investment Research downgraded shares of Horizon Pharma PLC from a “hold” rating to a “sell” rating in a report on Wednesday, February 1st. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $20.00 target price (down from $35.00) on shares of Horizon Pharma PLC in a report on Tuesday, May 9th. Three research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $21.38.

In related news, EVP Robert Carey sold 31,808 shares of the business’s stock in a transaction that occurred on Wednesday, March 1st. The shares were sold at an average price of $16.03, for a total transaction of $509,882.24. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Michael G. Grey acquired 10,000 shares of the stock in a transaction that occurred on Wednesday, May 10th. The shares were bought at an average cost of $9.48 per share, for a total transaction of $94,800.00. The disclosure for this purchase can be found here. Insiders own 2.10% of the company’s stock.

Hedge funds have recently bought and sold shares of the company. Searle & CO. acquired a new stake in Horizon Pharma PLC during the first quarter valued at approximately $781,000. Sheaff Brock Investment Advisors LLC acquired a new stake in Horizon Pharma PLC during the first quarter valued at approximately $148,000. Massachusetts Financial Services Co. MA acquired a new stake in Horizon Pharma PLC during the first quarter valued at approximately $151,000. Stevens Capital Management LP acquired a new stake in Horizon Pharma PLC during the first quarter valued at approximately $173,000. Finally, First Mercantile Trust Co. increased its stake in Horizon Pharma PLC by 2.7% in the first quarter. First Mercantile Trust Co. now owns 11,770 shares of the biopharmaceutical company’s stock valued at $174,000 after buying an additional 310 shares in the last quarter. 88.09% of the stock is owned by institutional investors.

The company has a 50 day moving average of $13.90 and a 200-day moving average of $16.22. The firm’s market capitalization is $1.73 billion.

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Horizon Pharma PLC Company Profile

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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