Zacks Investment Research upgraded shares of Shire PLC (NASDAQ:SHPG) from a sell rating to a hold rating in a research note published on Friday, October 27th.
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.”
SHPG has been the topic of a number of other reports. Cantor Fitzgerald set a $222.00 price target on shares of Shire PLC and gave the stock a buy rating in a report on Saturday, July 1st. Jefferies Group LLC reissued a hold rating and issued a $206.00 price target (down from $216.00) on shares of Shire PLC in a report on Wednesday, August 9th. Barclays PLC downgraded shares of Shire PLC from an overweight rating to an equal weight rating in a research note on Friday, August 11th. Sanford C. Bernstein reaffirmed a market perform rating and issued a $210.00 target price on shares of Shire PLC in a research note on Thursday, July 13th. Finally, Royal Bank of Canada reaffirmed a buy rating and issued a $213.00 target price on shares of Shire PLC in a research note on Monday, October 2nd. One research analyst has rated the stock with a sell rating, nine have given a hold rating and eleven have given a buy rating to the company. Shire PLC has a consensus rating of Hold and a consensus price target of $211.00.
Shares of Shire PLC (NASDAQ:SHPG) traded up $0.29 during mid-day trading on Friday, hitting $140.36. 701,000 shares of the stock traded hands, compared to its average volume of 1,137,305. The stock has a market capitalization of $42,320.00, a P/E ratio of 9.63, a P/E/G ratio of 0.78 and a beta of 1.60. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.52 and a current ratio of 0.98. Shire PLC has a 52 week low of $137.80 and a 52 week high of $192.15.
Shire PLC (NASDAQ:SHPG) last posted its quarterly earnings results on Friday, October 27th. The biopharmaceutical company reported $3.81 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.64 by $0.17. The company had revenue of $3.70 billion during the quarter. Shire PLC had a net margin of 10.95% and a return on equity of 14.41%. Shire PLC’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.17 EPS. equities research analysts predict that Shire PLC will post 15 earnings per share for the current year.
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Several institutional investors and hedge funds have recently bought and sold shares of the company. Maverick Capital Ltd. raised its position in Shire PLC by 19.9% in the 2nd quarter. Maverick Capital Ltd. now owns 1,942,087 shares of the biopharmaceutical company’s stock worth $320,969,000 after buying an additional 322,610 shares during the last quarter. Glenview Capital Management LLC raised its position in Shire PLC by 69.7% in the 2nd quarter. Glenview Capital Management LLC now owns 1,722,977 shares of the biopharmaceutical company’s stock worth $284,756,000 after buying an additional 707,500 shares during the last quarter. Ameriprise Financial Inc. raised its position in Shire PLC by 6.4% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,606,342 shares of the biopharmaceutical company’s stock worth $245,997,000 after buying an additional 96,115 shares during the last quarter. Vanguard Group Inc. raised its position in Shire PLC by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 1,542,634 shares of the biopharmaceutical company’s stock worth $268,773,000 after buying an additional 13,665 shares during the last quarter. Finally, Boston Partners raised its position in Shire PLC by 10.8% in the 3rd quarter. Boston Partners now owns 1,455,819 shares of the biopharmaceutical company’s stock worth $222,944,000 after buying an additional 141,586 shares during the last quarter. 19.24% of the stock is 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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