Horizon Therapeutics Public (NASDAQ:HZNP) Hits New 1-Year Low Following Weak Earnings

Posted by MarketBeat News on Aug 5th, 2022

Horizon Therapeutics Public Limited (NASDAQ:HZNP – Get Rating)’s stock price hit a new 52-week low on Wednesday following a weaker than expected earnings announcement. The company traded as low as $60.89 and last traded at $61.77, with a volume of 286220 shares. The stock had previously closed at $82.13.

The biopharmaceutical company reported $1.07 earnings per share for the quarter, missing the consensus estimate of $1.36 by ($0.29). The business had revenue of $876.40 million during the quarter, compared to analyst estimates of $938.82 million. Horizon Therapeutics Public had a net margin of 22.87% and a return on equity of 32.08%. The business’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same period last year, the business earned $1.62 earnings per share.

Wall Street Analyst Weigh In

Several analysts recently weighed in on HZNP shares. Wells Fargo & Company reaffirmed a “buy” rating and issued a $133.00 price objective on shares of Horizon Therapeutics Public in a research note on Friday, April 8th. The Goldman Sachs Group reduced their price objective on Horizon Therapeutics Public from $164.00 to $144.00 and set a “buy” rating on the stock in a research note on Thursday. UBS Group downgraded Horizon Therapeutics Public from a “buy” rating to a “neutral” rating and dropped their target price for the company from $137.00 to $71.00 in a research report on Thursday. Oppenheimer reiterated a “buy” rating and issued a $140.00 target price on shares of Horizon Therapeutics Public in a research report on Friday, July 8th. Finally, SVB Leerink downgraded Horizon Therapeutics Public from an “outperform” rating to a “market perform” rating in a research report on Thursday. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $117.60.

Insider Transactions at Horizon Therapeutics Public

In other news, CEO Timothy P. Walbert sold 25,000 shares of the firm’s stock in a transaction dated Friday, May 20th. The stock was sold at an average price of $90.00, for a total transaction of $2,250,000.00. Following the completion of the transaction, the chief executive officer now directly owns 460,549 shares in the company, valued at $41,449,410. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Horizon Therapeutics Public news, CEO Timothy P. Walbert sold 17,600 shares of Horizon Therapeutics Public stock in a transaction that occurred on Wednesday, May 11th. The stock was sold at an average price of $90.00, for a total value of $1,584,000.00. Following the completion of the sale, the chief executive officer now directly owns 460,549 shares in the company, valued at $41,449,410. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Timothy P. Walbert sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, May 20th. The shares were sold at an average price of $90.00, for a total value of $2,250,000.00. Following the completion of the sale, the chief executive officer now directly owns 460,549 shares of the company’s stock, valued at approximately $41,449,410. The disclosure for this sale can be found here. Insiders sold 98,384 shares of company stock worth $8,934,633 over the last ninety days. 2.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of HZNP. New York State Teachers Retirement System purchased a new position in shares of Horizon Therapeutics Public during the fourth quarter valued at approximately $356,000. Janney Montgomery Scott LLC boosted its position in shares of Horizon Therapeutics Public by 65.8% during the fourth quarter. Janney Montgomery Scott LLC now owns 4,449 shares of the biopharmaceutical company’s stock valued at $479,000 after buying an additional 1,765 shares during the last quarter. Commonwealth Equity Services LLC boosted its position in shares of Horizon Therapeutics Public by 22.1% during the fourth quarter. Commonwealth Equity Services LLC now owns 36,162 shares of the biopharmaceutical company’s stock valued at $3,896,000 after buying an additional 6,549 shares during the last quarter. Yousif Capital Management LLC purchased a new position in shares of Horizon Therapeutics Public during the fourth quarter valued at approximately $354,000. Finally, CWM LLC purchased a new position in shares of Horizon Therapeutics Public during the fourth quarter valued at approximately $2,143,000. Hedge funds and other institutional investors own 88.39% of the company’s stock.

Horizon Therapeutics Public Stock Performance

The company has a market cap of $15.40 billion, a PE ratio of 18.36, a PEG ratio of 1.18 and a beta of 1.12. The company has a quick ratio of 3.30, a current ratio of 3.57 and a debt-to-equity ratio of 0.53. The company has a 50-day moving average of $83.54 and a 200-day moving average of $93.47.

Horizon Therapeutics Public Company Profile

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Horizon Therapeutics Public Limited Company, a biotechnology company, focuses on the discovery, development, and commercialization of medicines that address critical needs for people impacted by rare, autoimmune, and severe inflammatory diseases. The company operates in two segments, Orphan and Inflammation.