Horizon Pharma Inc (HZNP): Are Hedge Funds Right About This Stock?

With a general bullishness amongst the heavyweights, key hedge funds have been driving this bullishness. Healthcor Management LP, managed by Arthur B Cohen and Joseph Healey, initiated the most valuable position in Horizon Pharma PLC (NASDAQ:HZNP). The fund had $77.1 million invested in the company at the end of the quarter. Mitchell Blutt’s Consonance Capital Management also initiated a $67.1 million position during the quarter. The other funds with new positions in the stock are Ken Heebner’s Capital Growth Management, Robert Pohly’s Samlyn Capital, and James Dondero’s Highland Capital Management.

Let’s now take a look at hedge fund activity in other stocks similar to Horizon Pharma PLC (NASDAQ:HZNP). These stocks are Kate Spade & Co (NYSE:KATE), Logitech International SA (USA) (NASDAQ:LOGI), UMB Financial Corporation (NASDAQ:UMBF), and GrubHub Inc (NYSE:GRUB). This group of stocks’ market caps are similar to HZNP’s market cap.

As you can see these stocks had an average of 20 hedge funds with bullish positions and the average amount invested in these stocks was $445 million. That figure was $741 million in HZNP’s case. Kate Spade & Co (NYSE:KATE) is the most popular stock in this table. On the other hand UMB Financial Corporation (NASDAQ:UMBF) is the least popular one with only 9 bullish hedge fund positions. Compared to these stocks Horizon Pharma PLC (NASDAQ:HZNP) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.

Disclosure: none.