Horizon Therapeutics Public Limited Company (HZNP) Shares Got Re-Rated Due to Acquisition Announcement

ClearBridge Investments, an investment management company, released its “ClearBridge Select Strategy” fourth quarter 2022 investor letter. A copy of the same can be downloaded here. The strategy outperformed its benchmark, the Russell 3000 Index, in the fourth quarter. On an absolute basis, the strategy gained across nine of the 10 sectors in which it was invested. Industrials, consumer staples, and healthcare sectors were the leading contributors while the IT sector detracted from performance. In addition, please check the fund’s top five holdings to know its best picks in 2022.

ClearBridge Select Strategy highlighted stocks like Horizon Therapeutics Public Limited Company (NASDAQ:HZNP) in the Q4 2022 investor letter. Headquartered in Dublin, Ireland, Horizon Therapeutics Public Limited Company (NASDAQ:HZNP) is a biotechnology company. On February 22, 2023, Horizon Therapeutics Public Limited Company (NASDAQ:HZNP) stock closed at $110.76 per share. One-month return of Horizon Therapeutics Public Limited Company (NASDAQ:HZNP) was -1.98%, and its shares gained 21.10% of their value over the last 52 weeks. Horizon Therapeutics Public Limited Company (NASDAQ:HZNP) has a market capitalization of $25.297 billion.

ClearBridge Select Strategy made the following comment about Horizon Therapeutics Public Limited Company (NASDAQ:HZNP) in its Q4 2022 investor letter:

“Disruptive areas of health care like biotechnology are also gaining recognition after an extended period of weakness. Horizon Therapeutics Public Limited Company (NASDAQ:HZNP), a biotech developing treatments for rare, autoimmune and inflammatory diseases saw its shares rerate in the quarter following the announcement of its acquisition by large cap pharmaceutical Pfizer.”

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Horizon Therapeutics Public Limited Company (NASDAQ:HZNP) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 75 hedge fund portfolios held Horizon Therapeutics Public Limited Company (NASDAQ:HZNP) at the end of the fourth quarter which was 57 in the previous quarter.

We discussed Horizon Therapeutics Public Limited Company (NASDAQ:HZNP) in another article and shared the top holdings of billionaire investor George Soros. In addition, please check out our hedge fund investor letters Q4 2022 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.