StockNews.com Initiates Coverage on Horizon Therapeutics Public (NASDAQ:HZNP)

Posted by on Jun 6th, 2023

Equities researchers at StockNews.com initiated coverage on shares of Horizon Therapeutics Public (NASDAQ:HZNP – Get Rating) in a research note issued to investors on Tuesday. The brokerage set a “buy” rating on the biopharmaceutical company’s stock.

Separately, TheStreet cut Horizon Therapeutics Public from a “b-” rating to a “c+” rating in a research report on Monday, May 8th. Eight analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $111.42.

Horizon Therapeutics Public Trading Down 0.3 %

Shares of Horizon Therapeutics Public stock opened at $99.67 on Tuesday. The stock has a fifty day simple moving average of $107.26 and a 200 day simple moving average of $107.22. Horizon Therapeutics Public has a 12-month low of $57.84 and a 12-month high of $113.83. The company has a market capitalization of $22.79 billion, a P/E ratio of 62.69, a price-to-earnings-growth ratio of 2.97 and a beta of 1.12. The company has a current ratio of 4.07, a quick ratio of 3.89 and a debt-to-equity ratio of 0.50.

Horizon Therapeutics Public (NASDAQ:HZNP – Get Rating) last announced its quarterly earnings results on Wednesday, May 3rd. The biopharmaceutical company reported $0.83 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.17 by ($0.34). Horizon Therapeutics Public had a return on equity of 20.31% and a net margin of 10.40%. The company had revenue of $832.10 million for the quarter, compared to the consensus estimate of $897.06 million. During the same quarter last year, the company posted $1.34 EPS. The company’s quarterly revenue was down 6.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Horizon Therapeutics Public will post 4.81 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Horizon Therapeutics Public by 1.7% during the 3rd quarter. Vanguard Group Inc. now owns 21,276,662 shares of the biopharmaceutical company’s stock valued at $1,316,812,000 after purchasing an additional 354,287 shares during the period. BlackRock Inc. boosted its holdings in Horizon Therapeutics Public by 7.0% during the 3rd quarter. BlackRock Inc. now owns 15,619,023 shares of the biopharmaceutical company’s stock valued at $966,660,000 after acquiring an additional 1,020,576 shares during the period. Avoro Capital Advisors LLC lifted its holdings in Horizon Therapeutics Public by 36.6% in the 4th quarter. Avoro Capital Advisors LLC now owns 7,000,000 shares of the biopharmaceutical company’s stock worth $796,600,000 after buying an additional 1,875,000 shares during the period. State Street Corp lifted its holdings in Horizon Therapeutics Public by 3.4% in the 3rd quarter. State Street Corp now owns 5,732,387 shares of the biopharmaceutical company’s stock worth $354,777,000 after buying an additional 188,413 shares during the period. Finally, Farallon Capital Management LLC lifted its holdings in Horizon Therapeutics Public by 46.7% in the 1st quarter. Farallon Capital Management LLC now owns 5,419,823 shares of the biopharmaceutical company’s stock worth $591,519,000 after buying an additional 1,724,900 shares during the period. Hedge funds and other institutional investors own 91.01% of the company’s stock.

About Horizon Therapeutics Public

(Get Rating)

Horizon Therapeutics Plc is a biopharmaceutical company, which engages in the research, development, and marketing of pharmaceutical products. It operates through the Orphan and Inflammation segments. The Orphan segment consists of medicines KRYSTEXXA, RAVICTI, PROCYSBI, ACTIMMUNE, BUPHENYL, QUINSAIR, and RAYOS.

Read More

Analyst Recommendations for Horizon Therapeutics Public (NASDAQ:HZNP)

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