Shire PLC (SHPG) Sees Large Drop in Short Interest

Shire PLC (NASDAQ:SHPG) was the target of a large decrease in short interest in January. As of January 31st, there was short interest totalling 2,421,141 shares, a decrease of 34.8% from the January 12th total of 3,712,240 shares. Based on an average trading volume of 1,775,924 shares, the short-interest ratio is currently 1.4 days. Currently, 0.8% of the shares of the stock are short sold.

Institutional investors have recently made changes to their positions in the business. SeaCrest Wealth Management LLC bought a new position in Shire in the 4th quarter valued at $107,000. Avestar Capital LLC bought a new position in Shire in the 4th quarter valued at $116,000. Amica Retiree Medical Trust bought a new position in Shire in the 4th quarter valued at $120,000. BB&T Investment Services Inc. grew its position in Shire by 1,672.3% in the 3rd quarter. BB&T Investment Services Inc. now owns 833 shares of the biopharmaceutical company’s stock valued at $127,000 after acquiring an additional 786 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC bought a new position in Shire in the 3rd quarter valued at $159,000. 20.74% of the stock is currently owned by institutional investors.

Shire (NASDAQ:SHPG) traded up $0.19 during trading hours on Wednesday, reaching $132.86. The company had a trading volume of 2,040,000 shares, compared to its average volume of 1,510,000. Shire has a one year low of $123.73 and a one year high of $192.15. The stock has a market cap of $40,100.00, a price-to-earnings ratio of 25.02, a PEG ratio of 0.71 and a beta of 1.41. 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 (NASDAQ:SHPG) last released its quarterly earnings results on Wednesday, February 14th. The biopharmaceutical company reported $3.98 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.86 by $0.12. Shire had a return on equity of 14.41% and a net margin of 10.95%. The company had revenue of $4.15 billion for the quarter. During the same quarter in the previous year, the company posted $3.37 EPS. The business’s quarterly revenue was up 8.9% on a year-over-year basis. analysts anticipate that Shire will post 15 earnings per share for the current fiscal year.

Several analysts have recently issued reports on the company. Cowen set a $225.00 price objective on Shire and gave the stock a “buy” rating in a report on Friday, January 5th. Royal Bank of Canada set a $192.00 price objective on Shire and gave the stock a “buy” rating in a report on Monday, February 5th. BidaskClub lowered Shire from a “hold” rating to a “sell” rating in a report on Wednesday, January 10th. Piper Jaffray Companies restated a “hold” rating on shares of Shire in a report on Wednesday, January 3rd. Finally, Cantor Fitzgerald set a $222.00 price target on Shire and gave the company a “buy” rating in a report on Wednesday, January 3rd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $212.50.

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About Shire

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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