Shire PLC (NASDAQ:SHPG) shares dropped 0.7% during trading on Friday . The stock traded as low as $187.22 and last traded at $188.19, with a volume of 608,163 shares. The stock had previously closed at $189.52.

SHPG has been the topic of several analyst reports. Zacks Investment Research upgraded Shire PLC from a “hold” rating to a “buy” rating and set a $192.00 price objective on the stock in a report on Wednesday, June 29th. Morgan Stanley reiterated an “overweight” rating on shares of Shire PLC in a report on Friday, June 3rd. Royal Bank Of Canada reiterated an “outperform” rating and issued a $240.00 price objective on shares of Shire PLC in a report on Saturday, April 16th. JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Shire PLC in a report on Saturday, April 16th. Finally, Liberum Capital initiated coverage on Shire PLC in a report on Friday, May 6th. They issued a “buy” rating on the stock. Two investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $236.13.

The company has a 50-day moving average price of $181.72 and a 200 day moving average price of $176.26. The stock has a market cap of $37.12 billion and a P/E ratio of 28.29.

Shire PLC (NASDAQ:SHPG) last announced its quarterly earnings results on Friday, April 29th. The biopharmaceutical company reported $3.19 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.05 by $0.14. During the same quarter in the prior year, the business earned $2.08 EPS. The company earned $1.71 billion during the quarter, compared to analysts’ expectations of $1.71 billion. The business’s revenue for the quarter was up 14.9% compared to the same quarter last year. On average, analysts predict that Shire PLC will post $4.17 EPS for the current fiscal year.

Other institutional investors recently made changes to their positions in the company. Jennison Associates LLC increased its position in shares of Shire PLC by 12.8% in the fourth quarter. Jennison Associates LLC now owns 7,196,669 shares of the biopharmaceutical company’s stock worth $1,475,317,000 after buying an additional 819,188 shares in the last quarter. Morgan Stanley increased its position in shares of Shire PLC by 17.4% in the fourth quarter. Morgan Stanley now owns 1,120,057 shares of the biopharmaceutical company’s stock worth $229,611,000 after buying an additional 166,169 shares in the last quarter. Tekla Capital Management LLC increased its position in shares of Shire PLC by 247.0% in the fourth quarter. Tekla Capital Management LLC now owns 171,813 shares of the biopharmaceutical company’s stock worth $35,222,000 after buying an additional 122,300 shares in the last quarter. CAM Group Holding A S increased its position in shares of Shire PLC by 111.7% in the fourth quarter. CAM Group Holding A S now owns 104,324 shares of the biopharmaceutical company’s stock worth $21,386,000 after buying an additional 55,050 shares in the last quarter. Finally, Marshall Wace LLP bought a new position in shares of Shire PLC during the fourth quarter worth about $7,831,000.

Shire plc is a biotech company. The Company, along with its subsidiaries, is engaged in developing and marketing medicines for patients with rare diseases and other select conditions. The Company operates in the segment of research, development, licensing, manufacturing, marketing, distribution and sale of specialist medicines.

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