Horizon Pharma PLC (HZNP) To Close Crealta Holdings LLC Acquistion This Week, Lifts Guidance


Shares of Horizon Pharma PLC (NASDAQ:HZNP) are trading significantly higher this morning as the company has lifted their guidance for sales for fiscal 2016.

Horizon Pharma PLC (NASDAQ:HZNP) says that they now expect to close their acquisition of Crealta Holdings LLC sometime this week, which will ultimately lead to a decent bump in annual sales over their previous guidance for the year.

“We have proven our ability to execute and to consistently grow our diversified portfolio and are confident in our ability to leverage our orphan and rheumatology expertise to ensure that more patients with chronic refractory gout receive access to KRYSTEXXA,” explained Horizon Pharma CEO Timothy P. Walbert.

The company now expects annual sales to come in at around $1.025 billion to $1.05 billion, as opposed to their previous estimate from November of $950 million to $975 million. The stock is currently trading higher by 7.68% or $1.39 following the positive news, hitting $19.48 per share at the time of us publishing this article. About 60,357 shares traded hands. HZNP has declined 44.03% since June 8, 2015 and is downtrending. It has underperformed the S&P500 by 39.34%.

From a total of 6 analysts covering Horizon Pharma (NASDAQ:HZNP) stock, 4 rate it a “Buy”, 1 a “Sell”, and 1 a “Hold”. This means that 67% of the ratings are positive. The highest target price is $40 while the lowest target price is $23.0. The mean of all analyst targets is $33 which is 69.40% above today’s ($19.48) stock price. Horizon Pharma was the topic of 8 analyst reports since September 9, 2015 according to the firm StockzIntelligence Inc. Goldman Sachs initiated shares on December 17 with a “Buy” rating. Morgan Stanley reinitiated HZNP stock in a recent report from December 3 with a “Underweight” rating. Finally, Brean Capital downgraded the stock to a “Hold” rating in a report they issued on a September 22.

The institutional sentiment decreased to 1.03 in Q2 2015. It’s down 0.48, from 1.51 in 2015Q2. The ratio dived, as 55 funds sold all their Horizon Pharma PLC shares they owned while 71 reduced their positions. 60 funds bought stakes while 70 increased their total positions. Institutions now own 142.56 million shares which is 14.58% more than the previous share count of 124.42 million in 2015Q2.

Broadfin Capital Llc holds 7.37% of its total portfolio in Horizon Pharma PLC, equating to 6.67 million shares. Deerfield Management Co owns 8.08 million shares representing 6.2% of their total US portfolio. Moreover, Jw Asset Management Llc has 5.56% of their total portfolio invested in the company, equating to 773,899 shares. The Pennsylvania-based Turner Investments L.P. has a total of 2.57% of their portfolio invested in the stock. Marble Arch Investments Lp, a New York-based fund reported 1.62 million shares owned.

Since March 11, 2015, the stock had 0 insider purchases, and 2 sales for a total of $1.20 million in net activity. Sherman Jeffrey W sold 7,750 shares worth $246,295. Himawan Jeff sold 554,564 shares worth $12.44M.

Horizon Pharma plc, formerly Vidara Therapeutics International Public Limited Company, is a specialty biopharmaceutical firm focused on identifying, developing, acquiring or in-licensing and commercializing differentiated products that address unmet medical needs. The company has a market cap of $3.10 billion. The Firm markets a portfolio of products in arthritis, inflammation and orphan diseases. It currently has negative earnings. The Company’s the United States marketed products are ACTIMMUNE , DUEXIS (ibuprofen/famotidine), PENNSAID (diclofenac sodium topical solution) 2% w/w (PENNSAID 2%), RAYOS (prednisone) delayed-release tablets and VIMOVO (naproxen/esomeprazole magnesium).