Shares of Shire PLC (NASDAQ:SHPG) 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.

Several analysts have issued reports on SHPG shares. Jefferies Group restated a “buy” rating on shares of Shire PLC in a report on Tuesday, April 12th. BTIG Research restated a “buy” rating and set a $230.00 price objective on shares of Shire PLC in a report on Tuesday, April 12th. Bank of America Corp. restated a “buy” rating on shares of Shire PLC in a report on Wednesday, March 30th. Cowen and Company restated a “buy” rating on shares of Shire PLC in a report on Tuesday, May 3rd. Finally, JPMorgan Chase & Co. restated a “buy” rating on shares of Shire PLC in a report on Sunday, May 22nd. Two equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. Shire PLC currently has a consensus rating of “Buy” and an average price target of $236.13.

The firm’s 50 day moving average is $183.21 and its 200-day moving average is $175.84. The firm has a market capitalization of $38.03 billion and a P/E ratio of 28.98.

Shire PLC (NASDAQ:SHPG) last announced its 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 period in the prior year, the business posted $2.08 EPS. The firm earned $1.71 billion during the quarter, compared to analyst estimates of $1.71 billion. The firm’s quarterly revenue was up 14.9% compared to the same quarter last year. Equities analysts anticipate that Shire PLC will post $12.50 EPS for the current fiscal year.

Several hedge funds and institutional investors recently bought and sold shares of the company. Jennison Associates LLC raised its position 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 period. Morgan Stanley raised its position 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 period. Dimensional Fund Advisors LP raised its position in Shire PLC by 4.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 66,099 shares of the biopharmaceutical company’s stock valued at $13,550,000 after buying an additional 3,039 shares during the period. Sawtooth Asset Management Inc. raised its position 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 period. Finally, Mitsubishi UFJ Kokusai Asset Management CO. LTD. raised its position in Shire PLC by 29.7% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. now owns 27,050 shares of the biopharmaceutical company’s stock valued at $5,545,000 after buying an additional 6,200 shares during the period.

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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