Shire (SHPG) Rating Lowered to Sell at Zacks Investment Research

Shire (NASDAQ:SHPG) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Monday.

According to Zacks, “Sales of Shire’s Mydayis showed promise in the first six months of launch. Also, strong performance of Vyvanse, Cinryze and Elaprase continue to drive its top line. The label expansion of Firazyr in pediatrics and approval of Lyophilized Oncaspar 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. Though the adult ADHD space is one of the largest and fastest growing segments of the market, it 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 year. Estimates have remained stable ahead of the Q1 earnings results. The company has a positive record of earnings surprises in recent quarters.”

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Other equities analysts have also recently issued reports about the stock. Cowen set a $225.00 price objective on shares of Shire and gave the company a “buy” rating in a research report on Friday, January 5th. Cantor Fitzgerald set a $222.00 price objective on shares of Shire and gave the company a “buy” rating in a research report on Wednesday, February 14th. Royal Bank of Canada set a $192.00 price objective on shares of Shire and gave the company a “buy” rating in a research report on Monday, February 5th. Bank of America upped their price objective on shares of Shire from $236.00 to $237.00 and gave the company a “buy” rating in a research report on Monday, February 5th. Finally, B. Riley decreased their price objective on shares of Shire from $201.00 to $181.00 and set a “buy” rating for the company in a research report on Friday, February 16th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $204.00.

NASDAQ:SHPG traded up $1.25 on Monday, reaching $157.99. The stock had a trading volume of 355,367 shares, compared to its average volume of 1,363,105. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.97 and a quick ratio of 0.55. The stock has a market cap of $47,548.18, a P/E ratio of 10.43, a PEG ratio of 1.23 and a beta of 1.30. Shire has a 12-month low of $123.73 and a 12-month high of $192.15.

Shire (NASDAQ:SHPG) last posted its quarterly earnings data on Wednesday, February 14th. The biopharmaceutical company reported $3.98 earnings per share for the quarter, beating analysts’ consensus estimates of $3.86 by $0.12. The company had revenue of $4.14 billion during the quarter. Shire had a net margin of 28.17% and a return on equity of 14.19%. The business’s quarterly revenue was up 8.9% on a year-over-year basis. During the same period in the previous year, the company earned $3.37 earnings per share. equities analysts expect that Shire will post 15.23 earnings per share for the current year.

Hedge funds have recently modified their holdings of the company. SeaCrest Wealth Management LLC bought a new position in shares of Shire during the fourth quarter worth about $107,000. Avestar Capital LLC bought a new position in shares of Shire during the fourth quarter worth about $116,000. Amica Retiree Medical Trust bought a new position in shares of Shire during the fourth quarter worth about $120,000. Steward Partners Investment Advisory LLC bought a new position in Shire in the third quarter worth about $159,000. Finally, Benjamin F. Edwards & Company Inc. lifted its holdings in Shire by 277.4% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 1,253 shares of the biopharmaceutical company’s stock worth $194,000 after acquiring an additional 921 shares during the last quarter. 19.59% of the stock is currently owned by institutional investors and hedge funds.

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Shire Company Profile

Shire plc, a biotechnology company, researches, develops, licenses, manufactures, markets, distributes, and sells specialist medicines for people with rare diseases and other specialized conditions worldwide. The company offers products in therapeutic areas, including hematology, genetic diseases, neuroscience, immunology, internal medicine, ophthalmology, and oncology.

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