Shire (SHPG) Upgraded to Hold by Zacks Investment Research
Zacks Investment Research upgraded shares of Shire (NASDAQ:SHPG) from a sell rating to a hold rating in a research note released on Tuesday.
According to Zacks, “The sales of Mydayis did not meet Shire’s expectation while strong performance of Vyvanse, Cinryze and Elaprase 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 portfolio. However, the adult ADHD space is one of the largest and fastest growing segments of the market but is highly genericized. Supply shortage for Cinryze and generic competition for Lialda had an unfavorable impact on the top line. Moreover, its shares have underperformed the industry in the past one year. Estimates have increased ahead of the Q4 earnings results. The company has a positive record of earnings surprises in recent quarters.”
SHPG has been the topic of a number of other research reports. Royal Bank of Canada reiterated an outperform rating and set a $213.00 target price on shares of Shire in a report on Wednesday, October 11th. FBR & Co initiated coverage on Shire in a report on Thursday, October 19th. They set a buy rating and a $201.00 target price on the stock. ValuEngine upgraded Shire from a hold rating to a buy rating in a report on Thursday, October 26th. Piper Jaffray Companies reiterated a hold rating and set a $160.00 target price on shares of Shire in a report on Friday, October 27th. Finally, Cantor Fitzgerald reiterated a buy rating and set a $222.00 target price on shares of Shire in a report on Friday, October 27th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the company. The stock presently has a consensus rating of Hold and an average target price of $212.50.
Shire (NASDAQ:SHPG) last announced its quarterly earnings results on Wednesday, February 14th. The biopharmaceutical company reported $3.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.86 by ($0.49). Shire had a net margin of 10.95% and a return on equity of 14.41%. equities analysts forecast that Shire will post 15 earnings per share for the current year.
Hedge funds have recently bought and sold shares of the business. SeaCrest Wealth Management LLC purchased a new stake in shares of Shire in the 4th quarter worth approximately $107,000. BB&T Investment Services Inc. grew its stake in shares of Shire by 1,672.3% in the 3rd quarter. BB&T Investment Services Inc. now owns 833 shares of the biopharmaceutical company’s stock worth $127,000 after buying an additional 786 shares during the last quarter. Steward Partners Investment Advisory LLC purchased a new stake in shares of Shire in the 3rd quarter worth approximately $159,000. Benjamin F. Edwards & Company Inc. grew its stake in shares of Shire by 277.4% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 1,253 shares of the biopharmaceutical company’s stock worth $194,000 after buying an additional 921 shares during the last quarter. Finally, Regal Investment Advisors LLC purchased a new stake in shares of Shire in the 4th quarter worth approximately $209,000. Hedge funds and other institutional investors own 20.31% of the company’s stock.
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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.
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