Shire PLC (NASDAQ:SHPG)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $190.40, but opened at $192.02. Shire PLC shares last traded at $194.35, with a volume of 720,236 shares.

A number of brokerages recently weighed in on SHPG. Leerink Swann lifted their target price on shares of Shire PLC from $221.00 to $225.00 and gave the stock an “outperform” rating in a research note on Monday, May 2nd. JPMorgan Chase & Co. reissued a “buy” rating on shares of Shire PLC in a research note on Sunday, May 22nd. Sanford C. Bernstein reissued an “outperform” rating and set a $222.00 target price on shares of Shire PLC in a research note on Thursday, June 9th. Royal Bank Of Canada reissued an “outperform” rating on shares of Shire PLC in a research note on Wednesday, June 15th. Finally, Jefferies Group reissued a “buy” rating on shares of Shire PLC in a research note on Friday, July 1st. Two analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $236.13.

The company has a market cap of $38.55 billion and a price-to-earnings ratio of 29.37. The company has a 50 day moving average of $183.15 and a 200 day moving average of $175.72.

Shire PLC (NASDAQ:SHPG) last released its earnings results on Friday, April 29th. The biopharmaceutical company reported $3.19 EPS for the quarter, topping analysts’ consensus estimates of $3.05 by $0.14. The firm had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.71 billion. During the same quarter in the previous year, the business posted $2.08 EPS. Shire PLC’s revenue was up 14.9% on a year-over-year basis. On average, equities research analysts forecast that Shire PLC will post $12.54 EPS for the current year.

Other large investors recently added to or reduced their stakes in the company. Jennison Associates LLC boosted its stake in Shire PLC by 12.8% in the fourth quarter. Jennison Associates LLC now owns 7,196,669 shares of the biopharmaceutical company’s stock valued at $1,475,317,000 after buying an additional 819,188 shares during the last quarter. Morgan Stanley boosted its stake in Shire PLC by 17.4% in the fourth quarter. Morgan Stanley now owns 1,120,057 shares of the biopharmaceutical company’s stock valued at $229,611,000 after buying an additional 166,169 shares during the last quarter. Tekla Capital Management LLC boosted its stake in Shire PLC by 247.0% in the fourth quarter. Tekla Capital Management LLC now owns 171,813 shares of the biopharmaceutical company’s stock valued at $35,222,000 after buying an additional 122,300 shares during the last quarter. Marshall Wace LLP bought a new stake in Shire PLC during the fourth quarter valued at about $7,831,000. Finally, Sawtooth Asset Management Inc. boosted its stake in Shire PLC by 8,006.4% in the fourth quarter. Sawtooth Asset Management Inc. now owns 8,836 shares of the biopharmaceutical company’s stock valued at $1,811,000 after buying an additional 8,727 shares during the last quarter.

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.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.