Shire (SHP) Shares Down 2.9%

Shire PLC (LON:SHP) shares were down 2.9% on Wednesday . The stock traded as low as GBX 3,316 ($46.57) and last traded at GBX 3,327.50 ($46.73). Approximately 2,873,379 shares traded hands during mid-day trading, an increase of 13% from the average daily volume of 2,550,000 shares. The stock had previously closed at GBX 3,426.50 ($48.12).

Several research analysts have weighed in on SHP shares. Citigroup reiterated a “buy” rating and issued a GBX 5,500 ($77.24) target price on shares of Shire in a research note on Monday, October 30th. Deutsche Bank reiterated a “buy” rating and issued a GBX 5,700 ($80.04) target price on shares of Shire in a research note on Thursday, October 26th. Shore Capital reiterated a “buy” rating on shares of Shire in a research note on Thursday, October 26th. Berenberg Bank lowered their target price on Shire from GBX 6,000 ($84.26) to GBX 5,900 ($82.85) and set a “buy” rating on the stock in a research note on Tuesday, October 24th. Finally, Kepler Capital Markets reissued a “buy” rating and issued a GBX 4,600 ($64.60) price target on shares of Shire in a report on Wednesday, November 1st. Five research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of GBX 5,244.44 ($73.65).

The stock has a market capitalization of $30,120.00 and a price-to-earnings ratio of 2,662.00.

In other Shire news, insider Dominic Blakemore acquired 165 shares of the stock in a transaction dated Tuesday, December 19th. The stock was acquired at an average price of GBX 3,790 ($53.22) per share, with a total value of £6,253.50 ($8,781.77).

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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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