Analysts Anticipate Horizon Therapeutics PLC (NASDAQ:HZNP) Will Post Quarterly Sales of $298.76 Million

Brokerages forecast that Horizon Therapeutics PLC (NASDAQ:HZNP) will report $298.76 million in sales for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Horizon Therapeutics’ earnings, with the highest sales estimate coming in at $300.25 million and the lowest estimate coming in at $296.83 million. Horizon Therapeutics reported sales of $302.84 million during the same quarter last year, which indicates a negative year-over-year growth rate of 1.3%. The firm is scheduled to issue its next quarterly earnings report before the market opens on Wednesday, August 7th.

According to Zacks, analysts expect that Horizon Therapeutics will report full year sales of $1.27 billion for the current fiscal year, with estimates ranging from $1.26 billion to $1.27 billion. For the next fiscal year, analysts anticipate that the company will post sales of $1.40 billion, with estimates ranging from $1.36 billion to $1.42 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Horizon Therapeutics.

Horizon Therapeutics (NASDAQ:HZNP) last issued its quarterly earnings results on Wednesday, May 8th. The biopharmaceutical company reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.20. The company had revenue of $280.00 million during the quarter, compared to analyst estimates of $238.35 million. Horizon Therapeutics had a return on equity of 33.57% and a net margin of 3.79%. The company’s quarterly revenue was up 25.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.03 earnings per share.

HZNP has been the topic of a number of research reports. BidaskClub cut Horizon Therapeutics from a “hold” rating to a “sell” rating in a research report on Friday, July 26th. TheStreet cut Horizon Therapeutics from a “b-” rating to a “c+” rating in a research report on Monday, June 10th. Citigroup upgraded Horizon Therapeutics from a “neutral” rating to a “buy” rating and upped their price target for the company from $21.00 to $32.00 in a research report on Wednesday, May 1st. Finally, Mizuho set a $27.00 price target on Horizon Therapeutics and gave the company a “hold” rating in a research report on Wednesday, May 8th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the company. Horizon Therapeutics presently has a consensus rating of “Buy” and an average target price of $31.91.

In other news, EVP Vikram Karnani sold 13,111 shares of the company’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $25.02, for a total transaction of $328,037.22. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Jeff Kent sold 3,620 shares of the company’s stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $24.64, for a total value of $89,196.80. The disclosure for this sale can be found here. In the last three months, insiders sold 27,871 shares of company stock worth $682,812. Insiders own 4.10% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of HZNP. Meeder Asset Management Inc. lifted its stake in Horizon Therapeutics by 32.6% in the second quarter. Meeder Asset Management Inc. now owns 22,992 shares of the biopharmaceutical company’s stock valued at $553,000 after buying an additional 5,649 shares during the period. Lisanti Capital Growth LLC lifted its stake in Horizon Therapeutics by 33.9% in the second quarter. Lisanti Capital Growth LLC now owns 206,470 shares of the biopharmaceutical company’s stock valued at $4,968,000 after buying an additional 52,275 shares during the period. Chicago Equity Partners LLC acquired a new position in Horizon Therapeutics in the second quarter valued at about $2,522,000. Hillsdale Investment Management Inc. lifted its stake in Horizon Therapeutics by 7.1% in the second quarter. Hillsdale Investment Management Inc. now owns 134,400 shares of the biopharmaceutical company’s stock valued at $3,233,000 after buying an additional 8,900 shares during the period. Finally, Swiss National Bank lifted its stake in Horizon Therapeutics by 3.3% in the second quarter. Swiss National Bank now owns 315,656 shares of the biopharmaceutical company’s stock valued at $7,595,000 after buying an additional 10,200 shares during the period. 88.68% of the stock is currently owned by institutional investors and hedge funds.

Shares of HZNP traded up $0.53 on Friday, reaching $23.65. 1,702,387 shares of the stock traded hands, compared to its average volume of 1,891,077. The firm has a market cap of $4.27 billion, a price-to-earnings ratio of 12.79, a price-to-earnings-growth ratio of 1.42 and a beta of 0.88. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.68 and a current ratio of 1.74. Horizon Therapeutics has a 12 month low of $16.56 and a 12 month high of $29.44. The stock’s 50-day moving average is $24.09.

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.

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Earnings History and Estimates for Horizon Therapeutics (NASDAQ:HZNP)

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