Shire PLC (NASDAQ:SHPG) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Monday, July 17th.
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 space, acquiring roughly 22% of the total market by the end of Mar 2017. The Dyax acquisition has integrated well and Shire announced positive results from the phase III trial on lanadelumab in May 2017. However, the adult ADHD space is one of the largest and fastest growing segments of the market but is highly genericized. Earnings estimates have fallen lately ahead of the Q2 results. Shire has a positive record of earnings surprises in the recent quarters.”
A number of other analysts also recently issued reports on the stock. BidaskClub downgraded shares of Shire PLC from a “hold” rating to a “sell” rating in a report on Saturday, July 1st. Goldman Sachs Group, Inc. (The) reissued a “focus list” rating on shares of Shire PLC in a research note on Tuesday, March 21st. Royal Bank Of Canada restated an “outperform” rating and issued a $221.00 price objective on shares of Shire PLC in a research report on Tuesday, April 18th. HSBC Holdings plc cut shares of Shire PLC from a “hold” rating to a “reduce” rating in a research report on Friday, May 19th. Finally, Cowen and Company restated an “outperform” rating and issued a $325.00 price objective on shares of Shire PLC in a research report on Wednesday, May 31st. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and sixteen have issued a buy rating to the company. Shire PLC currently has an average rating of “Buy” and a consensus target price of $223.18.
Shire PLC (NASDAQ:SHPG) opened at 155.91 on Monday. Shire PLC has a 12 month low of $155.06 and a 12 month high of $209.22. The firm has a market capitalization of $46.44 billion, a PE ratio of 159.91 and a beta of 1.60.
Shire PLC (NASDAQ:SHPG) last announced its quarterly earnings results on Thursday, August 3rd. The biopharmaceutical company reported $3.73 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.53 by $0.20. Shire PLC had a net margin of 4.70% and a return on equity of 14.32%. The firm had revenue of $3.75 billion during the quarter, compared to the consensus estimate of $3.73 billion. During the same period last year, the firm earned $3.38 EPS. The business’s quarterly revenue was up 54.2% compared to the same quarter last year. Equities analysts anticipate that Shire PLC will post $14.88 earnings per share for the current fiscal year.
TRADEMARK VIOLATION NOTICE: “Shire PLC (NASDAQ:SHPG) Downgraded to Sell at Zacks Investment Research” was first published by StockNewsTimes and is owned by of StockNewsTimes. If you are accessing this piece on another domain, it was illegally stolen and reposted in violation of United States & international trademark & copyright laws. The original version of this piece can be accessed at https://stocknewstimes.com/2017/08/06/shire-plc-nasdaqshpg-lowered-to-sell-at-zacks-investment-research-updated-updated.html.
A number of hedge funds have recently made changes to their positions in SHPG. HPM Partners LLC bought a new position in shares of Shire PLC during the first quarter valued at about $1,534,000. Vanguard Group Inc. increased its position in shares of Shire PLC by 0.9% in the first quarter. Vanguard Group Inc. now owns 1,542,634 shares of the biopharmaceutical company’s stock valued at $268,773,000 after buying an additional 13,665 shares during the period. Laurion Capital Management LP bought a new position in shares of Shire PLC during the first quarter valued at about $10,611,000. BlackRock Inc. increased its position in shares of Shire PLC by 4,217.7% in the first quarter. BlackRock Inc. now owns 1,433,475 shares of the biopharmaceutical company’s stock valued at $249,755,000 after buying an additional 1,400,275 shares during the period. Finally, Gabelli Funds LLC increased its position in shares of Shire PLC by 1,000.0% in the first quarter. Gabelli Funds LLC now owns 16,500 shares of the biopharmaceutical company’s stock valued at $2,875,000 after buying an additional 15,000 shares during the period. 21.05% of the stock is owned by institutional investors and hedge funds.
Shire PLC 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.
Get a free copy of the Zacks research report on Shire PLC (SHPG)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Shire PLC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Shire PLC and related companies with MarketBeat.com's FREE daily email newsletter.
