Morgan Stanley Raises Horizon Therapeutics (NASDAQ:HZNP) Price Target to $70.00

Horizon Therapeutics (NASDAQ:HZNP) had its target price increased by equities researchers at Morgan Stanley from $50.00 to $70.00 in a research note issued on Friday, The Fly reports. The brokerage presently has an “overweight” rating on the biopharmaceutical company’s stock. Morgan Stanley’s price target indicates a potential upside of 14.40% from the company’s current price.

Several other brokerages have also issued reports on HZNP. Bank of America increased their price target on Horizon Therapeutics from $52.00 to $57.00 and gave the stock a “buy” rating in a report on Tuesday, May 26th. Jefferies Financial Group lifted their price target on shares of Horizon Therapeutics from $47.00 to $51.00 and gave the company a “buy” rating in a research report on Tuesday, April 28th. Guggenheim boosted their price target on shares of Horizon Therapeutics from $50.00 to $64.00 in a research note on Thursday, July 16th. Stifel Nicolaus raised their price objective on shares of Horizon Therapeutics from $50.00 to $60.00 in a research note on Friday, May 29th. Finally, Piper Sandler boosted their target price on shares of Horizon Therapeutics from $61.00 to $90.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 22nd. Three research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. Horizon Therapeutics presently has a consensus rating of “Buy” and an average target price of $51.62.

Shares of NASDAQ HZNP opened at $61.19 on Friday. The firm has a market cap of $11.67 billion, a PE ratio of 21.62, a P/E/G ratio of 1.95 and a beta of 1.23. Horizon Therapeutics has a 12-month low of $22.84 and a 12-month high of $63.72. The company’s fifty day simple moving average is $54.99 and its 200 day simple moving average is $41.37. The company has a quick ratio of 2.27, a current ratio of 2.39 and a debt-to-equity ratio of 0.62.

Horizon Therapeutics (NASDAQ:HZNP) last announced its quarterly earnings data on Wednesday, May 6th. The biopharmaceutical company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.19. The firm had revenue of $355.90 million for the quarter, compared to analyst estimates of $287.88 million. Horizon Therapeutics had a net margin of 43.06% and a return on equity of 22.52%. The business’s quarterly revenue was up 26.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.30 earnings per share. On average, equities analysts predict that Horizon Therapeutics will post 1.73 earnings per share for the current year.

In related news, CFO Paul W. Hoelscher sold 104,994 shares of the business’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $38.00, for a total value of $3,989,772.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Miles W. Mchugh sold 5,007 shares of the stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $37.00, for a total transaction of $185,259.00. Following the transaction, the senior vice president now owns 132,640 shares of the company’s stock, valued at approximately $4,907,680. The disclosure for this sale can be found here. Insiders sold a total of 394,627 shares of company stock worth $17,399,789 in the last 90 days. Company insiders own 4.30% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HZNP. Harvest Fund Management Co. Ltd bought a new position in shares of Horizon Therapeutics during the 1st quarter valued at approximately $105,000. Tower Research Capital LLC TRC grew its holdings in Horizon Therapeutics by 642.1% during the first quarter. Tower Research Capital LLC TRC now owns 3,874 shares of the biopharmaceutical company’s stock valued at $114,000 after purchasing an additional 3,352 shares during the period. State of Alaska Department of Revenue bought a new position in Horizon Therapeutics during the first quarter valued at $174,000. King Wealth purchased a new stake in Horizon Therapeutics in the first quarter worth $207,000. Finally, Janney Montgomery Scott LLC bought a new stake in shares of Horizon Therapeutics in the second quarter valued at $216,000. Hedge funds and other institutional investors own 90.26% of the company’s stock.

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.

Featured Article: Mutual Funds

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.