Horizon Pharma PLC Stock Research

Market Summary

USD109.58+0.11

Market Closed

0.10%

HZNP Stock Price

HZNP RSI Chart

HZNP Valuation

Market Cap

24.9B

Price/Earnings (Trailing)

47.75

Price/Sales (Trailing)

6.86

EV/EBITDA

24.53

Price/Free Cashflow

20.86

HZNP Price/Sales (Trailing)

HZNP Profitability

EBT Margin

14.52%

Return on Equity

10.28%

Return on Assets

5.72%

Free Cashflow Yield

4.79%

HZNP Fundamentals

HZNP Revenue

Revenue (TTM)

3.6B

Revenue Y/Y

-7.14%

Revenue Q/Q

1.8%

HZNP Earnings

Earnings (TTM)

521.5M

Earnings Y/Y

-30.47%

Earnings Q/Q

-11.36%

Price Action

52 Week Range

57.84117.49

(Low)(High)

Last 7 days

-0.3%

Last 30 days

0.0%

Last 90 days

-3.1%

Trailing 12 Months

6.0%

HZNP Financial Health

Current Ratio

3.85

Debt/Equity

0.51

Debt/Cashflow

0.49

HZNP Investor Care

Buy Backs (1Y)

0.06%

Diluted EPS (TTM)

2.22

Peers (Alternatives to Horizon Pharma)

View All Peers In Detail

Name	Mkt Capsorted ascending	Revenue	Price %, 1M	Returns, 1Y	P/E	P/S	Rev 1-Yr	Inc 1-Yr
LARGE-CAP
JNJ	404.8B	94.9B	-5.16%	-10.64%	22.56	4.26	1.25%	-14.07%
LLY	296.8B	28.5B	-5.67%	20.74%	47.53	10.4	0.79%	11.88%
MRK	272.8B	59.3B	-1.75%	40.02%	17.88	4.63	21.72%	11.27%
PFE	226.4B	100.3B	-8.43%	-20.95%	7.22	2.26	23.43%	42.74%
BMY	142.7B	46.2B	-7.78%	-1.12%	22.55	3.09	-0.49%	-9.54%
MID-CAP
PRGO	4.8B	4.5B	-0.20%	-5.41%	-34.17	1.08	7.56%	-104.06%
RETA	3.3B	2.2M	105.10%	171.03%	-10.52	1.5K	-80.71%	-4.88%
SMALL-CAP
SUPN	1.9B	667.2M	-9.96%	17.66%	31.57	2.87	15.09%	13.64%
TLRY	1.6B	602.5M	-17.77%	-52.80%	-2.74	2.63	18.18%	-18.59%
CGC	991.7M	478.9M	-11.35%	-65.42%	-0.32	2.07	-31.50%	-634.70%
INVA	792.9M	285.2M	-7.22%	-37.95%	3.6	2.78	-27.21%	-40.28%
CRON	768.8M	114.5M	-15.28%	-37.42%	-4.56	6.72	27.90%	57.40%
ACRS	541.5M	29.8M	-40.95%	-47.43%	-6.23	18.2	340.05%	4.35%
OCUL	400.7M	51.5M	-2.49%	-0.39%	-5.64	7.78	18.32%	-984.05%
ENDP	94.1M	2.3B	-43.99%	-88.43%	-0.03	0.04	-22.53%	-376.66%

Financials for Horizon Pharma

* denotes actual numbers (not divided by Millions)
Income Statement (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Revenue	-2.0%	3,629	3,701	3,813	3,769	3,226
Gross Profit	-2.6%	2,709	2,781	2,875	2,860	2,432
Operating Expenses	-0.6%	2,091	2,104	2,027	1,963	1,889
S&GA Expenses	-1.7%	1,541	1,567	1,530	1,487	1,446
R&D Expenses	-13.8%	438	508	484	520	432
EBITDA	-3.8%	1,024	1,064	1,223	917	-
EBITDA Margin	-1.9%	0.28*	0.29*	0.32*	0.24*	-
Earnings Before Taxes	-9.7%	527	584	756	807	463
EBT Margin	-7.9%	0.15*	0.16*	0.20*	0.21*	-
Interest Expenses	15.4%	106	92.00	84.00	83.00	74.00
Net Income	-9.2%	521	574	765	862	534
Net Income Margin	-7.4%	0.14*	0.16*	0.20*	0.23*	-
Free Cahsflow	-9.1%	1,194	1,314	1,346	1,182	-

* denotes actual numbers (not divided by Millions)
Balance Sheet					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Assets	1.0%	9,115	9,028	8,853	8,740	8,678
Current Assets	7.1%	3,653	3,412	3,203	2,948	2,800
Cash Equivalents	10.4%	2,353	2,131	1,893	1,643	1,580
Inventory	-10.9%	170	190	204	227	226
Net PPE	7.2%	341	318	302	295	292
Goodwill	0%	1,011	1,011	1,011	1,067	1,067
Current Liabilities	10.3%	949	861	791	825	887
Long Term Debt	-0.1%	2,565	2,567	2,569	2,571	-
Shareholder's Equity	0.8%	5,072	5,034	4,946	4,818	4,672
Retained Earnings	-2.7%	590	606	584	523	319
Additional Paid-In Capital	1.1%	4,474	4,425	4,381	4,315	4,373
Accumulated Depreciation	12.7%	54.00	48.00	42.00	36.00	-
Shares Outstanding	-0.6%	227	229	230	229	227

Cashflow (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Cashflow From Operations	-8.2%	1,258	1,370	1,415	1,255	1,035
Share Based Compensation	-2.2%	182	186	196	205	219
Cashflow From Investing	-10.0%	-134	-121	-231	-305	-2,994
Cashflow From Financing	-96.3%	-347	-177	-91.16	-109	1,470
Buy Backs	-44.9%	250	454	-	-	-

Risks for HZNP

What is the probability of a big loss on HZNP?

44.6%

Probability that Horizon Pharma stock will be more than 20% underwater in next one year

34.6%

Probability that Horizon Pharma stock will be more than 30% underwater in next one year.

12.7%

Probability that Horizon Pharma stock will be more than 40% underwater in next one year.

*Calculated based on probability distribution of losses observed in actual data in the last 5 years.

How does HZNP drawdown profile look like?

Y-axis is the maximum loss one would have experienced if Horizon Pharma was unfortunately bought at previous high price.

Drawdowns

Returns for HZNP

Cumulative Returns on HZNP

46.0%

10-Year Cumulative Returns

32.5%

7-Year Cumulative Returns

48.9%

5-Year Cumulative Returns

55.6%

3-Year Cumulative Returns

What are the long-term rolling returns for HZNP?

FIve years rolling returns for Horizon Pharma.

Annualized Returns

Which funds bought or sold HZNP recently?

View All Details

Datesorted ascending	Fund Name	Type	% Chg	$ Change	$ Held	% Portfolio
2023-03-13	Crystalline Management Inc.	new	-	5,121,000	5,121,000	2.58%
2023-03-10	MATHER GROUP, LLC.	new	-	313,974	313,974	0.01%
2023-03-10	VICTORY CAPITAL MANAGEMENT INC	added	6.92	9,026,730	18,370,700	0.02%
2023-03-06	Rockefeller Capital Management L.P.	added	4,314	11,474,000	11,617,000	0.06%
2023-03-02	OLIVER LAGORE VANVALIN INVESTMENT GROUP	sold off	-100	-	-	-%
2023-02-28	Voya Investment Management LLC	reduced	-40.25	4,201,050	46,820,000	0.07%
2023-02-24	SRS Capital Advisors, Inc.	added	193	4,349	5,349	-%
2023-02-22	CVA Family Office, LLC	sold off	-100	-	-	-%
2023-02-21	NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO	added	209	41,276	49,276	-%
2023-02-21	MACQUARIE GROUP LTD	reduced	-95.1	-101,797,000	10,072,700	0.01%

Latest Funds Activity

Are funds buying HZNP calls or puts?

Calls

Puts

Are funds bullish or bearish(Calls - Puts)?

Net Call Options

No. of funds that own HZNP

No. of Funds

Horizon Pharma News

Schedule 13G FIlings of Horizon Pharma

Date Filed	Name of Filer	Percent of Class	No. of Shares	Form Type
Feb 09, 2023	fmr llc	-	0	SC 13G/A
Feb 09, 2023	vanguard group inc	9.37%	21,236,103	SC 13G/A
Feb 07, 2023	blackrock inc.	6.5%	14,794,254	SC 13G/A
Feb 09, 2022	fmr llc	-	0	SC 13G/A
Feb 03, 2022	blackrock inc.	5.7%	13,008,024	SC 13G/A
Feb 11, 2021	renaissance technologies llc	3.08%	6,798,963	SC 13G/A
Feb 10, 2021	vanguard group inc	9.03%	19,920,258	SC 13G/A
Feb 08, 2021	fmr llc	-	0	SC 13G
Jan 29, 2021	blackrock inc.	6.4%	14,206,978	SC 13G/A
Feb 12, 2020	renaissance technologies llc	5.39%	10,100,675	SC 13G

HZNP Fair Value

Horizon Pharma fair value in different scenarios

The table shows the Fair Value estimates for Horizon Pharma for various scenarios. Disclaimer: These are just estimations from a model. None of the models are good at predicting the future. Please dont buy or sell stocks based on these outputs.

Fair Value	Very Pessimistic	Pessimistic	Base Case	Optimistic	Very Optimistic
Very Low Inflation	69.61 -36.48%	92.81 -15.30%	183.90 67.82%	308.07 181.14%	486.84 344.28%
Current Inflation	63.31 -42.22%	83.16 -24.11%	160.90 46.83%	265.29 142.10%	415.39 279.07%
Very High Inflation	55.59 -49.27%	71.53 -34.72%	133.92 22.21%	215.97 97.09%	333.79 204.61%

Historical Horizon Pharma Fair Value Estimates

Very Pessimistic Case

Pessimistic Case

Fair Value

Optimistic Case

Very Optimistic Case

Closing Stock Price

Recent SEC filings of Horizon Pharma

View All Filings

Date Filed	Form Type	Document
Mar 14, 2023	4	Insider Trading
Mar 06, 2023	4	Insider Trading
Mar 06, 2023	4	Insider Trading
Mar 01, 2023	10-K	Annual Report
Mar 01, 2023	8-K	Current Report
Feb 24, 2023	8-K	Current Report
Feb 17, 2023	DEFA14A	DEFA14A
Feb 09, 2023	SC 13G/A	Major Ownership Report
Feb 09, 2023	SC 13G/A	Major Ownership Report
Feb 08, 2023	DEFA14A	DEFA14A

Latest Insider Trading transactions for HZNP

Filter Transactions

Datesorted ascending	Name	Buy/Sell	$ Value	Avg. Price	# Shares	Title
2023-03-13	Thompson Elizabeth H.Z.	gifted	-	-	-2,000	evp, research & development
2023-03-02	DesJardin Michael A.	acquired	66,953	15.3141	4,372	evp, technical operations
2023-03-01	Clayton Sean M.	sold (taxes)	-775,911	110	-7,032	evp, general counsel
2023-03-01	Clayton Sean M.	acquired	-	-	14,129	evp, general counsel
2023-01-17	SHERMAN JEFFREY W	gifted	-	-	-33,795	evp and chief medical officer
2023-01-17	SHERMAN JEFFREY W	gifted	-	-	33,795	evp and chief medical officer
2023-01-17	Pasternak Andy	sold	-3,066,320	113	-27,129	evp, chief strategy officer
2023-01-13	Cox Aaron	sold	-4,090,850	113	-36,148	evp, chief financial officer
2023-01-11	SHERMAN JEFFREY W	sold	-380,921	113	-3,368	evp and chief medical officer
2023-01-10	SHERMAN JEFFREY W	sold	-380,752	113	-3,368	evp and chief medical officer

About Horizon Pharma

Timothy P. Walbert

www.horizonpharma.com

1890

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. Its portfolio comprises 12 medicines in the areas of rare diseases, gout, ophthalmology, and inflammation. It markets TEPEZZA (teprotumumab-trbw) for intravenous infusion; KRYSTEXXA (pegloticase injection) for intravenous infusion; RAVICTI (glycerol phenylbutyrate) oral liquid; PROCYSBI (cysteamine bitartrate) delayed-release capsules and granules for oral use; ACTIMMUNE (interferon gamma-1b) injection for subcutaneous use; BUPHENYL (sodium phenylbutyrate) tablets and powder for oral use; QUINSAIR (levofloxacin) solution for inhalation; and UPLIZNA (inebilizumab-cdon) injection for intravenous use. The company also markets PENNSAID (diclofenac sodium topical solution) for topical use; DUEXIS (ibuprofen/famotidine) tablets for oral use; RAYOS (prednisone) delayed-release tablets for oral use; and VIMOVO (naproxen/esomeprazole magnesium) delayed-release tablets for oral use. It has collaboration agreements with HemoShear Therapeutics, LLC.; Alpine Immune Sciences, Inc.; Halozyme Therapeutics, Inc.; and Arrowhead Pharmaceuticals, Inc. The company was formerly known as Horizon Pharma Public Limited Company and changed its name to Horizon Therapeutics Public Limited Company in May 2019. Horizon Therapeutics Public Limited Company was founded in 2005 and is headquartered in Dublin, Ireland with additional offices in Deerfield, Illinois; Chicago, Illinois; Lake Forest, Illinois; South San Francisco, California; Washington, D.C.; Gaithersburg, Maryland; Rockville, Maryland; and Mannheim, Germany.

HZNP Income Statement

2022-12-31

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Statement [Abstract]
Net sales	$ 3,629,044	$ 3,226,410	$ 2,200,429
Cost of goods sold	920,197	794,512	532,695
Gross profit	2,708,847	2,431,898	1,667,734
OPERATING EXPENSES:
Research and development	437,962	345,318	128,999
Acquired in-process research and development and milestones	56,250	86,672	80,365
Selling, general and administrative	1,541,052	1,446,410	973,227
Impairment of goodwill	56,171
Impairment of long-lived asset		12,371
Gain on sale of assets		(2,000)	(4,883)
Total operating expenses	2,091,435	1,888,771	1,177,708
Operating income	617,412	543,127	490,026
OTHER EXPENSE, NET:
Interest expense, net	(83,707)	(81,063)	(59,616)
Foreign exchange loss	(1,202)	(1,028)	(297)
Loss on debt extinguishment			(31,856)
Other (expense) income, net	(5,567)	1,791	3,388
Total other expense, net	(90,476)	(80,300)	(88,381)
Income before expense (benefit) for income taxes	526,936	462,827	401,645
Expense (benefit) for income taxes	5,454	(71,664)	11,849
Net income	$ 521,482	$ 534,491	$ 389,796
Net income per ordinary share—basic	$ 2.28	$ 2.37	$ 1.91
Weighted average ordinary shares outstanding—basic	229,108,881	225,551,410	203,967,246
Net income per ordinary share—diluted	$ 2.22	$ 2.27	$ 1.81
Weighted average ordinary shares outstanding—diluted	235,239,651	235,680,483	215,308,768
OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAX
Interest rate swap contracts designated as cash flow hedges	$ 23,640
Pension and other post-employment benefit plan remeasurements	4,671	$ (13,296)
Foreign currency translation adjustments	(796)	(1,546)	$ 1,760
Other comprehensive income (loss)	27,515	(14,842)	1,760
Comprehensive income	$ 548,997	$ 519,649	$ 391,556

HZNP Balance Sheet

2022-12-31

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
CURRENT ASSETS:
Cash and cash equivalents	$ 2,352,833	$ 1,580,317
Restricted cash	4,755	3,839
Accounts receivable, net	676,347	632,775
Inventories, net	169,559	225,730
Prepaid expenses and other current assets	449,349	357,106
Total current assets	3,652,843	2,799,767
Property, plant and equipment, net	340,509	292,298
Developed technology and other intangible assets, net	2,664,777	2,960,118
In-process research and development	810,000	880,000
Goodwill	1,010,538	1,066,709
Deferred tax assets, net	431,814	538,098
Other long-term assets	204,135	140,738
Total assets	9,114,616	8,677,728
CURRENT LIABILITIES:
Accounts payable	155,800	30,125
Accrued expenses and other current liabilities	457,557	523,015
Accrued trade discounts and rebates	319,780	317,431
Long-term debt—current portion	16,000	16,000
Total current liabilities	949,137	886,571
LONG-TERM LIABILITIES:
Long-term debt, net	2,546,837	2,555,233
Deferred tax liabilities, net	342,017	390,455
Other long-term liabilities	204,451	173,076
Total long-term liabilities	3,093,305	3,118,764
COMMITMENTS AND CONTINGENCIES
SHAREHOLDERS’ EQUITY:
Ordinary shares, $0.0001 nominal value; 600,000,000 shares authorized at December 31, 2022 and December 31, 2021; 227,625,913 and 227,760,936 shares issued at December 31, 2022 and December 31, 2021, respectively; and 227,241,547 and 227,376,570 shares outstanding at December 31, 2022 and December 31, 2021, respectively	23	23
Treasury stock, 384,366 ordinary shares at December 31, 2022 and December 31, 2021	(4,585)	(4,585)
Additional paid-in capital	4,474,199	4,373,337
Accumulated other comprehensive income (loss)	12,528	(14,987)
Retained earnings	590,009	318,605
Total shareholders’ equity	5,072,174	4,672,393
Total liabilities and shareholders' equity	$ 9,114,616	$ 8,677,728