Shire PLC (NASDAQ:SHPG) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Friday.
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 portfolio, acquiring roughly 23% of the total market by the end of Jun 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 so far this year. Estimates have risen ahead of Q3 earnings. The company has a mixed record of earnings surprises in recent quarters.”
A number of other analysts have also issued reports on SHPG. BidaskClub lowered Shire PLC from a “hold” rating to a “sell” rating in a research report on Saturday, July 1st. Cantor Fitzgerald set a $222.00 target price on Shire PLC and gave the stock a “buy” rating in a research report on Saturday, July 1st. HSBC Holdings plc raised Shire PLC from a “reduce” rating to a “hold” rating in a research report on Thursday, July 6th. ValuEngine raised Shire PLC from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $245.00 target price on shares of Shire PLC in a research report on Wednesday, July 12th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and fourteen have issued a buy rating to the company. Shire PLC presently has an average rating of “Buy” and an average target price of $211.00.
Shire PLC (NASDAQ SHPG) traded up 2.84% on Friday, hitting $142.17. The stock had a trading volume of 2,091,441 shares. The company’s 50-day moving average is $152.36 and its 200-day moving average is $163.12. Shire PLC has a one year low of $137.80 and a one year high of $192.64. The stock has a market cap of $43.05 billion, a P/E ratio of 63.61 and a beta of 1.63.
Shire PLC (NASDAQ:SHPG) last announced its earnings results on Friday, October 27th. The biopharmaceutical company reported $3.81 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.64 by $0.17. Shire PLC had a return on equity of 14.10% and a net margin of 4.70%. The business had revenue of $3.70 billion for the quarter, compared to analyst estimates of $3.72 billion. During the same period in the previous year, the company earned $3.17 earnings per share. The company’s revenue for the quarter was up 7.1% compared to the same quarter last year. On average, analysts anticipate that Shire PLC will post $14.92 earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Inspirion Wealth Advisors LLC boosted its position in shares of Shire PLC by 0.4% during the second quarter. Inspirion Wealth Advisors LLC now owns 1,944 shares of the biopharmaceutical company’s stock worth $321,000 after buying an additional 8 shares during the period. Synovus Financial Corp boosted its position in shares of Shire PLC by 0.4% during the second quarter. Synovus Financial Corp now owns 2,780 shares of the biopharmaceutical company’s stock worth $458,000 after buying an additional 11 shares during the period. Baldwin Investment Management LLC boosted its position in shares of Shire PLC by 1.4% during the second quarter. Baldwin Investment Management LLC now owns 1,626 shares of the biopharmaceutical company’s stock worth $269,000 after buying an additional 23 shares during the period. Hartford Financial Management Inc. boosted its position in shares of Shire PLC by 5.4% during the second quarter. Hartford Financial Management Inc. now owns 621 shares of the biopharmaceutical company’s stock worth $102,000 after buying an additional 32 shares during the period. Finally, American International Group Inc. boosted its position in shares of Shire PLC by 1.2% during the first quarter. American International Group Inc. now owns 4,607 shares of the biopharmaceutical company’s stock worth $803,000 after buying an additional 54 shares during the period. Institutional investors and hedge funds own 19.23% 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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