Shire (NASDAQ:SHPG) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Friday.
According to Zacks, “Shire beat earnings and sales estimates for the fourth quarter of 2017. Sales of Shire’s Mydayis showed promise in the first six months of launch. Also, strong performance of Vyvanse, Cinryze and Elaprase continue to drive its top line. The label expansion of Firazyr in pediatrics and approval of Lyophilized Oncaspar 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. Though the adult ADHD space is one of the largest and fastest growing segments of the market, it 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 year.”
Other equities research analysts have also issued research reports about the company. Cantor Fitzgerald set a $222.00 price objective on Shire and gave the company a “buy” rating in a research note on Tuesday, December 5th. Cowen set a $225.00 target price on Shire and gave the stock a “buy” rating in a research report on Friday, January 5th. Royal Bank of Canada set a $192.00 target price on Shire and gave the stock a “buy” rating in a research report on Monday, February 5th. Bank of America lifted their target price on Shire from $236.00 to $237.00 and gave the stock a “buy” rating in a research report on Monday, February 5th. Finally, B. Riley decreased their target price on Shire from $201.00 to $181.00 and set a “buy” rating for the company in a research report on Friday, February 16th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $204.00.
Shire (NASDAQ:SHPG) last issued its quarterly earnings data on Wednesday, February 14th. The biopharmaceutical company reported $3.98 earnings per share for the quarter, beating analysts’ consensus estimates of $3.86 by $0.12. Shire had a return on equity of 14.19% and a net margin of 28.17%. The firm had revenue of $4.14 billion during the quarter. During the same quarter last year, the business earned $3.37 EPS. Shire’s revenue for the quarter was up 8.9% compared to the same quarter last year. equities research analysts forecast that Shire will post 15.21 earnings per share for the current year.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Commerzbank Aktiengesellschaft FI lifted its holdings in shares of Shire by 22.1% in the 4th quarter. Commerzbank Aktiengesellschaft FI now owns 2,073 shares of the biopharmaceutical company’s stock worth $322,000 after purchasing an additional 375 shares during the last quarter. ETRADE Capital Management LLC lifted its holdings in shares of Shire by 6.9% in the 4th quarter. ETRADE Capital Management LLC now owns 7,212 shares of the biopharmaceutical company’s stock worth $1,119,000 after purchasing an additional 466 shares during the last quarter. Hills Bank & Trust Co. lifted its holdings in shares of Shire by 12.2% in the 4th quarter. Hills Bank & Trust Co. now owns 5,960 shares of the biopharmaceutical company’s stock worth $924,000 after purchasing an additional 647 shares during the last quarter. Putnam FL Investment Management Co. lifted its holdings in shares of Shire by 9.9% in the 4th quarter. Putnam FL Investment Management Co. now owns 7,442 shares of the biopharmaceutical company’s stock worth $1,154,000 after purchasing an additional 670 shares during the last quarter. Finally, SeaCrest Wealth Management LLC bought a new stake in shares of Shire in the 4th quarter worth approximately $107,000. 19.59% of the stock is currently owned by institutional investors and hedge funds.
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Shire Company Profile
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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