Horizon Therapeutics (NASDAQ:HZNP) Given New $46.00 Price Target at BMO Capital Markets

Horizon Therapeutics (NASDAQ:HZNP) had its price objective lifted by stock analysts at BMO Capital Markets from $40.00 to $46.00 in a note issued to investors on Wednesday, The Fly reports. The firm presently has an “outperform” rating on the biopharmaceutical company’s stock. BMO Capital Markets’ price objective indicates a potential upside of 27.46% from the stock’s previous close.

A number of other equities research analysts have also weighed in on HZNP. Piper Jaffray Companies reissued a “buy” rating and set a $49.00 price objective (up from $36.00) on shares of Horizon Therapeutics in a report on Tuesday, December 24th. Jefferies Financial Group raised their target price on Horizon Therapeutics from $35.00 to $40.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. Goldman Sachs Group began coverage on Horizon Therapeutics in a research report on Wednesday, January 8th. They set a “neutral” rating and a $35.00 price target for the company. Zacks Investment Research downgraded Horizon Therapeutics from a “buy” rating to a “hold” rating and set a $31.00 price target on the stock. in a research note on Tuesday, October 29th. Finally, Morgan Stanley increased their price objective on Horizon Therapeutics from $32.00 to $38.00 and gave the company an “overweight” rating in a report on Monday, December 16th. Four analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $37.57.

NASDAQ:HZNP traded down $1.02 during trading hours on Wednesday, hitting $36.09. 121,817 shares of the company were exchanged, compared to its average volume of 1,367,215. The stock has a market capitalization of $7.22 billion, a price-to-earnings ratio of 96.78, a PEG ratio of 1.64 and a beta of 0.89. Horizon Therapeutics has a 52-week low of $20.05 and a 52-week high of $39.10. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.33 and a quick ratio of 2.23. The company’s 50 day moving average price is $35.76 and its 200-day moving average price is $29.46.

Horizon Therapeutics (NASDAQ:HZNP) last posted its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported $0.64 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.14. The business had revenue of $335.50 million during the quarter, compared to analysts’ expectations of $330.60 million. Horizon Therapeutics had a net margin of 5.25% and a return on equity of 27.71%. The business’s quarterly revenue was up 3.1% on a year-over-year basis. During the same quarter last year, the company posted $0.65 earnings per share. On average, equities analysts predict that Horizon Therapeutics will post 1.55 earnings per share for the current year.

In other Horizon Therapeutics news, EVP Vikram Karnani sold 9,297 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $35.62, for a total value of $331,159.14. Following the completion of the transaction, the executive vice president now directly owns 92,654 shares of the company’s stock, valued at $3,300,335.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jeff Kent sold 3,545 shares of the company’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $36.50, for a total value of $129,392.50. Following the completion of the sale, the insider now owns 121,988 shares in the company, valued at approximately $4,452,562. The disclosure for this sale can be found here. Insiders have sold 126,888 shares of company stock valued at $4,413,598 over the last 90 days. 4.10% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently modified their holdings of the company. Strs Ohio increased its holdings in shares of Horizon Therapeutics by 59.4% during the 4th quarter. Strs Ohio now owns 19,134 shares of the biopharmaceutical company’s stock valued at $692,000 after purchasing an additional 7,133 shares in the last quarter. AMI Asset Management Corp acquired a new position in shares of Horizon Therapeutics in the 4th quarter valued at about $11,317,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Horizon Therapeutics by 21.9% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,016 shares of the biopharmaceutical company’s stock valued at $507,000 after purchasing an additional 2,519 shares in the last quarter. Assenagon Asset Management S.A. purchased a new stake in shares of Horizon Therapeutics during the 4th quarter worth about $2,383,000. Finally, Nisa Investment Advisors LLC grew its holdings in shares of Horizon Therapeutics by 1.4% during the 4th quarter. Nisa Investment Advisors LLC now owns 21,060 shares of the biopharmaceutical company’s stock worth $762,000 after purchasing an additional 300 shares during the period. 88.23% of the stock is currently owned by institutional investors and hedge funds.

Horizon Therapeutics Company Profile

Horizon Therapeutics 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. Its orphan and rheumatology marketed medicines include KRYSTEXXA, a medicine for the treatment of uncontrolled gout; RAVICTI for use as a nitrogen-binding agent for chronic management of adult and pediatric patients; PROCYSBI for nephropathic cystinosis, a rare and life-threatening metabolic disorder; ACTIMMUNE for chronic granulomatous disease; RAYOS for the treatment of multiple conditions, rheumatoid arthritis; BUPHENYL tablets for oral administration and BUPHENYL powder for oral, nasogastric, or gastrostomy tube administration; and QUINSAIR, a formulation of the antibiotic drug levofloxacin for the management of chronic pulmonary infections due to Pseudomonas aeruginosa in adult patients with cystic fibrosis.

Read More: Resistance Level

The Fly

Analyst Recommendations for Horizon Therapeutics (NASDAQ:HZNP)

Receive News & Ratings for Horizon Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Horizon Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.