Shire PLC (NASDAQ:SHPG) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, August 8th.
According to Zacks, “Shire reported encouraging Q2 results, beating estimates for both sales and earnings.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 23% of the total market by the end of Jun 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. Moreover, shares have underperformed the industry.”
SHPG has been the topic of several other reports. Cowen and Company reiterated an “outperform” rating and issued a $325.00 price objective on shares of Shire PLC in a research note on Wednesday, May 31st. Cantor Fitzgerald set a $222.00 price objective on Shire PLC and gave the company a “buy” rating in a research note on Saturday, July 1st. Stifel Nicolaus reiterated a “buy” rating and issued a $245.00 price objective on shares of Shire PLC in a research note on Wednesday, July 12th. BidaskClub cut Shire PLC from a “sell” rating to a “strong sell” rating in a research note on Friday, June 16th. Finally, ValuEngine cut Shire PLC from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and fifteen have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $220.08.
Shares of Shire PLC (NASDAQ:SHPG) traded down 1.62% during midday trading on Tuesday, reaching $145.55. The company’s stock had a trading volume of 1,456,564 shares. The stock’s 50-day moving average is $160.70 and its 200-day moving average is $171.91. Shire PLC has a one year low of $144.18 and a one year high of $209.22.
Shire PLC (NASDAQ:SHPG) last released its quarterly earnings results on Thursday, August 3rd. The biopharmaceutical company reported $3.73 EPS for the quarter, topping the 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 quarter in the prior year, the business earned $3.38 earnings per share. The company’s quarterly revenue was up 54.2% on a year-over-year basis. On average, analysts expect that Shire PLC will post $14.91 EPS for the current year.
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Several institutional investors have recently added to or reduced their stakes in SHPG. BlackRock Inc. raised its position in Shire PLC by 4,217.7% in the first quarter. BlackRock Inc. now owns 1,433,475 shares of the biopharmaceutical company’s stock worth $249,755,000 after buying an additional 1,400,275 shares in the last quarter. Janus Henderson Group PLC raised its position in Shire PLC by 22,560.3% in the second quarter. Janus Henderson Group PLC now owns 1,286,881 shares of the biopharmaceutical company’s stock worth $212,683,000 after buying an additional 1,281,202 shares in the last quarter. Glenview Capital Management LLC bought a new position in Shire PLC during the first quarter worth about $176,927,000. Boston Partners raised its position in Shire PLC by 80.7% in the first quarter. Boston Partners now owns 1,359,151 shares of the biopharmaceutical company’s stock worth $236,805,000 after buying an additional 606,814 shares in the last quarter. Finally, Jana Partners LLC bought a new position in Shire PLC during the first quarter worth about $94,903,000. 20.22% of the stock is currently owned by hedge funds and other institutional investors.
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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