Zacks Investment Research Downgrades Shire (SHPG) to Sell

Shire (NASDAQ:SHPG) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Tuesday.

According to Zacks, “The sales of Mydayis did not meet Shire’s expectation while strong performance of Vyvanse, Cinryze and Elaprase 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. However, the adult ADHD space is one of the largest and fastest growing segments of the market but is highly genericized. Supply shortage for Cinryze and generic competition for Lialda had an unfavorable impact on the top line. Moreover, its shares have underperformed the industry in the past one year. Estimates have increased ahead of the Q4 earnings results. The company has a positive record of earnings surprises in recent quarters.”

A number of other equities analysts have also recently issued reports on SHPG. Cantor Fitzgerald reissued a “buy” rating and issued a $222.00 target price on shares of Shire in a report on Thursday, September 14th. Royal Bank of Canada reissued a “buy” rating and issued a $213.00 target price on shares of Shire in a report on Monday, October 2nd. Stifel Nicolaus reissued a “buy” rating and issued a $245.00 target price on shares of Shire in a report on Sunday, October 8th. FBR & Co started coverage on shares of Shire in a report on Thursday, October 19th. They issued a “buy” rating and a $201.00 target price on the stock. Finally, ValuEngine raised shares of Shire from a “hold” rating to a “buy” rating in a report on Thursday, October 26th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $212.18.

Shares of Shire (SHPG) traded down $0.96 during midday trading on Tuesday, reaching $158.25. 1,093,300 shares of the company’s stock were exchanged, compared to its average volume of 1,101,750. The company has a quick ratio of 0.52, a current ratio of 0.98 and a debt-to-equity ratio of 0.55. Shire has a 1 year low of $137.17 and a 1 year high of $192.15. The company has a market capitalization of $47,740.00, a PE ratio of 29.80, a P/E/G ratio of 0.86 and a beta of 1.59.

Shire (NASDAQ:SHPG) last issued 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 had a net margin of 10.95% and a return on equity of 14.41%. The firm had revenue of $3.70 billion for the quarter. During the same period in the prior year, the business earned $3.17 EPS. The business’s revenue was up 7.1% on a year-over-year basis. research analysts anticipate that Shire will post 15 earnings per share for the current year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in SHPG. YorkBridge Wealth Partners LLC raised its holdings in shares of Shire by 81.7% during the second quarter. YorkBridge Wealth Partners LLC now owns 705 shares of the biopharmaceutical company’s stock valued at $116,000 after buying an additional 317 shares during the last quarter. BB&T Investment Services Inc. raised its holdings in shares of Shire by 1,672.3% during the third quarter. BB&T Investment Services Inc. now owns 833 shares of the biopharmaceutical company’s stock valued at $127,000 after buying an additional 786 shares during the last quarter. Steward Partners Investment Advisory LLC bought a new stake in shares of Shire during the third quarter valued at approximately $159,000. Pacer Advisors Inc. bought a new stake in shares of Shire during the second quarter valued at approximately $171,000. Finally, Stephens Inc. AR raised its holdings in shares of Shire by 22.2% during the second quarter. Stephens Inc. AR now owns 1,256 shares of the biopharmaceutical company’s stock valued at $208,000 after buying an additional 228 shares during the last quarter. 20.19% of the stock is currently owned by institutional investors.

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Shire Company Profile

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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