Shire PLC (SHPG) Receives Average Rating of “Buy” from Brokerages

Shire PLC (NASDAQ:SHPG) has been given an average rating of “Buy” by the twenty-four analysts that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and fifteen have issued a buy rating on the company. The average 12 month price target among brokers that have covered the stock in the last year is $223.40.

A number of analysts have recently weighed in on SHPG shares. Piper Jaffray Companies set a $159.00 price objective on Shire PLC and gave the company a “hold” rating in a research note on Wednesday, July 26th. Zacks Investment Research lowered Shire PLC from a “hold” rating to a “sell” rating in a research note on Monday, July 17th. Sanford C. Bernstein lowered Shire PLC from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $209.22 to $161.09 in a research note on Thursday, May 25th. BidaskClub lowered Shire PLC from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 5th. Finally, HSBC Holdings plc downgraded Shire PLC from a “hold” rating to a “reduce” rating in a report on Friday, May 19th.

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Shire PLC (NASDAQ SHPG) opened at 149.97 on Monday. The company has a market cap of $44.67 billion, a price-to-earnings ratio of 67.10 and a beta of 1.60. Shire PLC has a 12-month low of $149.75 and a 12-month high of $209.22. The firm’s 50-day moving average is $164.82 and its 200 day moving average is $172.65.

Shire PLC (NASDAQ:SHPG) last released its quarterly earnings data on Thursday, August 3rd. The biopharmaceutical company reported $3.73 earnings per share for the quarter, beating analysts’ consensus estimates of $3.53 by $0.20. The firm had revenue of $3.75 billion during the quarter. Shire PLC had a return on equity of 14.10% and a net margin of 4.70%. The business’s revenue for the quarter was up 54.2% compared to the same quarter last year. During the same period last year, the company posted $3.38 EPS. On average, equities analysts expect that Shire PLC will post $14.93 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Heritage Investors Management Corp boosted its position in Shire PLC by 11.8% in the first quarter. Heritage Investors Management Corp now owns 21,793 shares of the biopharmaceutical company’s stock worth $3,797,000 after buying an additional 2,295 shares during the last quarter. Fox Run Management L.L.C. bought a new position in Shire PLC during the first quarter worth $662,000. Private Trust Co. NA boosted its position in Shire PLC by 39.7% in the first quarter. Private Trust Co. NA now owns 3,929 shares of the biopharmaceutical company’s stock worth $684,000 after buying an additional 1,117 shares during the last quarter. TNB Financial bought a new position in Shire PLC during the first quarter worth $3,487,000. Finally, Bremer Trust National Association bought a new position in Shire PLC during the first quarter worth $355,000. 21.04% of the stock is currently owned by institutional investors and hedge funds.

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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