Shire PLC (SHPG) Shares Gap Up to $196.69
Shire PLC (NASDAQ:SHPG)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $196.14, but opened at $196.69. Shire PLC shares last traded at $198.17, with a volume of 396,623 shares trading hands.
Several research firms recently commented on SHPG. Goldman Sachs Group Inc. restated a “buy” rating on shares of Shire PLC in a research note on Tuesday, June 28th. Zacks Investment Research downgraded shares of Shire PLC from a “buy” rating to a “hold” rating in a research note on Wednesday, June 8th. Shore Capital restated a “buy” rating on shares of Shire PLC in a research note on Tuesday, June 14th. Sanford C. Bernstein restated an “outperform” rating and issued a $222.00 price target on shares of Shire PLC in a research note on Thursday, June 9th. Finally, Leerink Swann reaffirmed a “buy” rating and set a $213.00 price objective (down previously from $225.00) on shares of Shire PLC in a research report on Thursday, June 16th. Four investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. Shire PLC presently has a consensus rating of “Buy” and an average target price of $237.41.
The firm’s 50 day moving average price is $194.16 and its 200-day moving average price is $178.24. The stock has a market capitalization of $45.20 billion and a price-to-earnings ratio of 41.27.
Shire PLC (NASDAQ:SHPG) last posted its earnings results on Tuesday, August 2nd. The biopharmaceutical company reported $3.38 earnings per share for the quarter, beating the Zacks’ consensus estimate of $3.03 by $0.35. The company had revenue of $2.43 million for the quarter, compared to analysts’ expectations of $2.28 billion. The firm’s quarterly revenue was up 55.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.63 EPS. On average, analysts forecast that Shire PLC will post $12.93 earnings per share for the current fiscal year.
Several hedge funds and institutional investors have modified their holdings of the company. BlackRock Advisors LLC raised its position in shares of Shire PLC by 11.3% in the fourth quarter. BlackRock Advisors LLC now owns 515,531 shares of the biopharmaceutical company’s stock valued at $105,684,000 after buying an additional 52,220 shares during the last quarter. Bank of Montreal Can raised its position in shares of Shire PLC by 50.4% in the fourth quarter. Bank of Montreal Can now owns 11,469 shares of the biopharmaceutical company’s stock valued at $2,352,000 after buying an additional 3,841 shares during the last quarter. Finally, Advisors Asset Management Inc. raised its position in shares of Shire PLC by 14.1% in the fourth quarter. Advisors Asset Management Inc. now owns 6,521 shares of the biopharmaceutical company’s stock valued at $1,337,000 after buying an additional 805 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.
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