Shire PLC (NASDAQ:SHPG) shares hit a new 52-week low on Friday . The company traded as low as $156.11 and last traded at $156.27, with a volume of 1,523,707 shares. The stock had previously closed at $161.58.
A number of research analysts recently weighed in on the company. HSBC Holdings plc lowered Shire PLC from a “hold” rating to a “reduce” rating in a report on Friday, May 19th. Royal Bank Of Canada set a $221.00 price objective on Shire PLC and gave the stock a “buy” rating in a report on Thursday, May 18th. Sanford C. Bernstein lowered Shire PLC from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $209.22 to $161.09 in a report on Thursday, May 25th. BidaskClub raised Shire PLC from a “strong sell” rating to a “sell” rating in a report on Friday, June 23rd. Finally, ValuEngine lowered Shire PLC from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and sixteen have given a buy rating to the stock. Shire PLC presently has an average rating of “Buy” and an average target price of $223.18.
The firm has a market cap of $46.32 billion, a P/E ratio of 159.49 and a beta of 1.60.
Shire PLC (NASDAQ:SHPG) last issued its quarterly earnings results on Thursday, August 3rd. The biopharmaceutical company reported $3.73 earnings per share for the quarter, beating analysts’ consensus estimates of $3.53 by $0.20. Shire PLC had a return on equity of 13.05% and a net margin of 2.14%. The business had revenue of $3.75 billion for the quarter. During the same quarter in the prior year, the firm posted $3.38 EPS. The business’s quarterly revenue was up 54.2% compared to the same quarter last year. On average, equities research analysts forecast that Shire PLC will post $14.88 EPS for the current year.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Whittier Trust Co. increased its position in shares of Shire PLC by 19.1% in the first quarter. Whittier Trust Co. now owns 573 shares of the biopharmaceutical company’s stock worth $100,000 after buying an additional 92 shares during the period. Pinnacle Bank purchased a new position in shares of Shire PLC during the first quarter worth approximately $101,000. Hartford Financial Management Inc. increased its position in shares of Shire PLC by 5.4% in the second quarter. Hartford Financial Management Inc. now owns 621 shares of the biopharmaceutical company’s stock worth $102,000 after buying an additional 32 shares during the period. Thompson Davis & CO. Inc. increased its position in shares of Shire PLC by 3.1% in the first quarter. Thompson Davis & CO. Inc. now owns 640 shares of the biopharmaceutical company’s stock worth $112,000 after buying an additional 19 shares during the period. Finally, North Star Investment Management Corp. increased its position in shares of Shire PLC by 8.5% in the first quarter. North Star Investment Management Corp. now owns 756 shares of the biopharmaceutical company’s stock worth $132,000 after buying an additional 59 shares during the period. Hedge funds and other institutional investors own 21.05% of the company’s stock.
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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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