Analysts Are Downgrading These 5 Stocks

3. Horizon Therapeutics Public Limited Company (NASDAQ:HZNP)

Number Of Hedge Fund Holders: 56

Horizon Therapeutics Public Limited Company (NASDAQ:HZNP) is a biopharmaceutical company engaged in the research, development, and marketing of of medicines for rheumatic and other rare diseases.

On August 4, UBS analyst Ashwani Verma downgraded Horizon Therapeutics Public Limited Company (NASDAQ:HZNP) to Neutral from Buy with a price target of $71, down from $137, following its Q2 earnings miss and a cut in guidance. The analyst believes that the outlook provided by company on its Tepezza product appears to be difficult to achieve as the company’s commentary implies that the bulk of its early Tepezza launch success was due to a ‘low-hanging fruit’ in a new market. In the future, its growth is likely to be moderate.

According to Insider Monkey’s database, 56 hedge funds held stakes in Horizon Therapeutics Public Limited Company (NASDAQ:HZNP) at the end of Q1 2022, compared to 58 funds in the preceding quarter. Kurt Von Emster’s VenBio Select Advisor is the biggest stakeholder of the company, with 6.5 million shares worth $683.8 million.

Here is what Carillon Tower Advisers had to say about Horizon Therapeutics Public Limited Company (NASDAQ:HZNP) in their Q1 2021 investor letter:

“Horizon Therapeutics is a biopharmaceutical company whose primary focus is research, development, and marketing of late-stage pharmaceutical products. After experiencing some unfortunate manufacturing hiccups in the later stages of 2020 for its key product Tepezza, which is used in the treatment of thyroid eye disease, the company recently received positive news that should relieve their supply issues going forward. With manufacturing of Tepezza back online after being forced to halt due to Operation Warp Speed’s COVID-19 vaccine production orders, Horizon expects patient treatments to resume in mid-April.”