Shire PLC (NASDAQ:SHPG) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Monday, July 17th.
According to Zacks, “The approval of Mydayis is likely to boost Shire’s ADHD segment dominance while strong performance of Vyvanse, Cinryze and Elaprase will continue to drive Shire’s top line. The label expansion of Cinryze in paediatrics and conditional approval of Natpara in Europe should continue to drive the top line going ahead. The hematology and immunology segment, acquired from Baxalta, gave a major boost to product sales. The approval of Xiidra has boosted the company’s ophthalmology space, acquiring roughly 22% of the total market by the end of Mar 2017. The Dyax acquisition has integrated well and Shire announced positive results from the phase III trial on lanadelumab in May 2017. However, the adult ADHD space is one of the largest and fastest growing segments of the market but is highly genericized. Earnings estimates have fallen lately ahead of the Q2 results. Shire has a positive record of earnings surprises in the recent quarters.”
A number of other equities research analysts also recently issued reports on the company. Cantor Fitzgerald set a $222.00 price target on Shire PLC and gave the company a “buy” rating in a research note on Saturday, July 1st. Jefferies Group LLC restated a “buy” rating and set a $216.00 price target (down from $239.00) on shares of Shire PLC in a research note on Friday, June 9th. Sanford C. Bernstein reiterated a “market perform” rating and set a $210.00 price objective on shares of Shire PLC in a research note on Thursday, July 13th. Stifel Nicolaus cut their price objective on Shire PLC from $250.00 to $245.00 and set a “buy” rating for the company in a research note on Friday, June 9th. Finally, Royal Bank Of Canada set a $218.00 price objective on Shire PLC and gave the company a “buy” rating in a research note on Thursday, June 8th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $222.27.
Shares of Shire PLC (SHPG) traded down 0.91% during trading on Monday, reaching $148.61. 958,069 shares of the company traded hands. The firm has a market capitalization of $44.26 billion, a price-to-earnings ratio of 66.49 and a beta of 1.60. The company has a 50 day moving average price of $164.07 and a 200 day moving average price of $172.55. Shire PLC has a 12-month low of $147.79 and a 12-month high of $209.22.
Shire PLC (NASDAQ:SHPG) last issued its earnings results on Thursday, August 3rd. The biopharmaceutical company reported $3.73 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.53 by $0.20. Shire PLC had a return on equity of 14.10% and a net margin of 4.70%. The business had revenue of $3.75 billion during the quarter. During the same period last year, the firm posted $3.38 EPS. Shire PLC’s quarterly revenue was up 54.2% compared to the same quarter last year. On average, equities analysts predict that Shire PLC will post $14.93 EPS for the current year.
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A number of large investors have recently bought and sold shares of the stock. Whittier Trust Co. increased its stake in Shire PLC by 19.1% in the first quarter. Whittier Trust Co. now owns 573 shares of the biopharmaceutical company’s stock worth $100,000 after buying an additional 92 shares in the last quarter. Pinnacle Bank purchased a new stake in Shire PLC during the first quarter valued at about $101,000. Hartford Financial Management Inc. increased its stake in Shire PLC by 5.4% in the second quarter. Hartford Financial Management Inc. now owns 621 shares of the biopharmaceutical company’s stock valued at $102,000 after buying an additional 32 shares in the last quarter. Thompson Davis & CO. Inc. increased its stake in Shire PLC by 3.1% in the first quarter. Thompson Davis & CO. Inc. now owns 640 shares of the biopharmaceutical company’s stock valued at $112,000 after buying an additional 19 shares in the last quarter. Finally, North Star Investment Management Corp. increased its stake in Shire PLC by 8.5% in the first quarter. North Star Investment Management Corp. now owns 756 shares of the biopharmaceutical company’s stock valued at $132,000 after buying an additional 59 shares in the last quarter. Institutional investors own 21.04% of the company’s stock.
About Shire PLC
Shire plc is a biotech company focused on serving people with rare diseases and other specialized conditions. The Company’s segment is engaged in research, development, licensing, manufacturing, marketing, distribution and sale of specialist medicines. It focuses its development resources on projects in various therapeutic areas (TAs), including Neuroscience, Ophthalmology, Hematology, Oncology, Immunology, Gastrointestinal (GI)/Metabolic/Endocrinology Diseases.
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