Cowen & Co. Downgrades Horizon Pharma PLC to Market Perform

Brokerage firm Cowen & Co. Downgrades its rating on Horizon Pharma PLC(NASDAQ:HZNP). The shares have been rated Market Perform. Previously, the analysts had a Outperform rating on the shares. The rating by Cowen & Co. was issued on Sep 16, 2016.

In a different note, On Aug 9, 2016, Citigroup said it Maintains its rating on Horizon Pharma PLC. In the research note, the firm Raises the price-target to $18.00 per share. The shares have been rated ‘Neutral’ by the firm. On Jul 11, 2016, Morgan Stanley said it Upgrades its rating on Horizon Pharma PLC. The shares have been rated ‘Equal-weight’ by the firm. BMO Capital said it Initiates Coverage on Horizon Pharma PLC, according to a research note issued on Jun 29, 2016. The shares have been rated ‘Outperform’ by the firm.

Horizon Pharma PLC (HZNP) made into the market gainers list on Thursdays trading session with the shares advancing 1.25% or 0.24 points. Due to strong positive momentum, the stock ended at $19.41, which is also near the day’s high of $19.45. The stock began the session at $19.29 and the volume stood at 19,81,864 shares. The 52-week high of the shares is $32.34 and the 52 week low is $12.86. The company has a current market capitalization of $3,123 M and it has 16,09,04,870 shares in outstanding.

Horizon Pharma PLC(HZNP) last announced its earnings results on Aug 8, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $257.38M. Analysts had an estimated revenue of $234.88M. Earnings per share were $0.62. Analysts had estimated an EPS of $0.50.

Several Insider Transactions has been reported to the SEC. On Aug 2, 2016, Jeffrey W Sherman (EVP and Chief Medical Officer) sold 2,900 shares at $20.00 per share price.Also, On Jun 15, 2016, Virinder Nohria (director) sold 25,000 shares at $17.69 per share price.On Aug 21, 2015, Thomas Watkins (director) purchased 10,000 shares at $31.32 per share price, according to the Form-4 filing with the securities and exchange commission.

Horizon Pharma plc formerly Vidara Therapeutics International Public Limited Company is a specialty biopharmaceutical company focused on identifying developing acquiring or in-licensing and commercializing differentiated products that address unmet medical needs. The Company markets a portfolio of products in arthritis inflammation and orphan diseases. The Company’s the United States marketed products are ACTIMMUNE (interferon gamma-1b) DUEXIS (ibuprofen/famotidine) PENNSAID (diclofenac sodium topical solution) 2% w/w (PENNSAID 2%) RAYOS (prednisone) delayed-release tablets and VIMOVO (naproxen/esomeprazole magnesium). The Company developed DUEXIS and RAYOS/LODOTRA has the United States rights to VIMOVO has the United States rights to ACTIMMUNE and has the United States rights to PENNSAID 2%.

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