Horizon Therapeutics Public Limited (NASDAQ: HZNP) has received a “Hold” rating from eight brokerages currently covering the company, according to Bloomberg’s report. Eight equities research analysts have given the stock a hold rating. Analysts who have updated their coverage on the stock in the past year have provided an average 12-month target price of $110.71.
On Tuesday, shares of HZNP stock opened at $115.66. Horizon Therapeutics Public’s twelve-month low is at $60.03, while its highest point within the same period reached $115.80. The company currently has a market capitalization of $26.48 billion and a beta of 1.05, with a price-to-earnings ratio of 61.85 and a PEG ratio of 3.85.
The company’s 50-day moving average price sits at $107.79, while its 200-day moving average price stands at $106.48. With regards to its financial position, Horizon Therapeutics Public has a current ratio of 4.27 and a quick ratio of 4.09, indicating that it may be well-positioned to meet its short-term obligations efficiently. Additionally, the company maintains a relatively low debt-to-equity ratio of 0.48.
Horizon Therapeutics Public Limited is committed to discovering, developing, and commercializing medicines that address critical needs for individuals impacted by rare diseases as well as autoimmune and severe inflammatory conditions. The company’s portfolio includes twelve medicines in the areas of rare diseases, gout management, ophthalmology treatment, and inflammation.
In its most recent quarterly earnings report released on August 8th, Horizon Therapeutics Public announced earnings per share (EPS) during the quarter amounting to $1.20—a figure that surpassed the consensus estimate by $0.08 per share ($1.12). The company recorded revenue of $945.00 million, exceeding analysts’ expectations of $873.52 million. Horizon Therapeutics Public achieved a net margin of 12.02% and a return on equity (ROE) of 20.46%. Comparing year-over-year data, the company’s revenue for the quarter rose by 7.8%. In the same period of the prior year, Horizon Therapeutics Public had posted earnings per share (EPS) of $1.07.
Equities analysts as a group predict that Horizon Therapeutics Public will record earnings per share (EPS) of approximately $4.29 for the current fiscal year.
As of September 26, 2023, it appears that Horizon Therapeutics Public Limited has garnered a “Hold” rating from analysts, with an average 12-month target price of $110.71. Investors can track the stock’s movement as it continues to navigate both the biotechnology industry and its commitment to addressing critical medical needs among rare disease patients and those impacted by autoimmune and severe inflammatory conditions through its robust portfolio of medicines.
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Mixed Sentiment Surrounds Horizon Therapeutics Public as Analysts and Institutional Investors Differ on Stock Rating
As of September 26, 2023, Horizon Therapeutics Public (HZNP) has garnered attention from equities research analysts. Jefferies Financial Group recently downgraded the stock from a “buy” rating to a “hold” rating in their research report on September 1st. On the other hand, StockNews.com upgraded HZNP to a “strong-buy” rating in their research report on September 13th.
The opinions of these analysts have not gone unnoticed by institutional investors and hedge funds, with several buying and selling shares of Horizon Therapeutics Public. D.A. Davidson & CO., for example, purchased a new stake in HZNP during the first quarter valued at approximately $223,000. Synovus Financial Corp also increased its stake in the biopharmaceutical company by 8.7% during the same period, now owning 11,196 shares worth $1,181,000 after acquiring an additional 895 shares.
Meanwhile, Cetera Investment Advisers boosted its holdings by 10.2% during the first quarter and now owns 2,874 shares valued at $302,000 after purchasing an additional 267 shares. Vanguard Group Inc., one of the largest institutional investors in HZNP, witnessed a slight increase of 0.9% in its stake during the first quarter as they acquired an additional 190,183 shares worth $2,138,801,000.
Lastly, Loomis Sayles & Co. L P expanded its holdings by 3.3% during the first quarter and currently holds 349,586 shares valued at $36,780,000 after purchasing an additional 11,054 shares. Notably, hedge funds and other institutional investors currently own around 80.37% of Horizon Therapeutics Public’s stock.
These recent movements within both analyst ratings and institutional investments reflect a mixed sentiment towards Horizon Therapeutics Public. While Jefferies Financial Group downgraded the stock, StockNews.com remains bullish, resulting in a perplexing picture for potential investors. It will be interesting to observe how these differing views and investment strategies unfold in the coming months and if they have any impact on HZNP’s overall performance.
