Shire (SHPG) Downgraded by Zacks Investment Research

Zacks Investment Research cut shares of Shire (NASDAQ:SHPG) from a hold rating to a sell rating in a research report sent to investors on Tuesday morning.

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.”

A number of other equities analysts have also weighed in on SHPG. Cantor Fitzgerald reiterated a buy rating and issued a $222.00 price target on shares of Shire in a research report on Thursday, September 14th. Royal Bank of Canada reiterated a buy rating and issued a $213.00 price target on shares of Shire in a research report on Monday, October 2nd. Stifel Nicolaus reiterated a buy rating and issued a $245.00 price target on shares of Shire in a research report on Sunday, October 8th. FBR & Co started coverage on Shire in a research report on Thursday, October 19th. They issued a buy rating and a $201.00 price target for the company. Finally, ValuEngine upgraded Shire from a hold rating to a buy rating in a research report on Thursday, October 26th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company. Shire currently has a consensus rating of Hold and an average target price of $212.18.

Shire (NASDAQ:SHPG) traded down $0.30 during trading hours on Tuesday, hitting $156.99. The company had a trading volume of 404,622 shares, compared to its average volume of 1,175,000. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.98 and a quick ratio of 0.52. Shire has a fifty-two week low of $137.17 and a fifty-two week high of $192.15. The firm has a market cap of $47,700.00, a price-to-earnings ratio of 29.57, a price-to-earnings-growth ratio of 0.85 and a beta of 1.59.

Shire (NASDAQ:SHPG) last released its quarterly earnings results on Friday, October 27th. The biopharmaceutical company reported $3.81 earnings per share for the quarter, beating the Zacks’ consensus estimate of $3.64 by $0.17. Shire had a return on equity of 14.41% and a net margin of 10.95%. The business had revenue of $3.70 billion during the quarter. During the same quarter last year, the business earned $3.17 EPS. The company’s revenue for the quarter was up 7.1% compared to the same quarter last year. analysts anticipate that Shire will post 15 EPS for the current year.

A number of institutional investors have recently made changes to their positions in SHPG. YorkBridge Wealth Partners LLC lifted its stake in Shire by 81.7% in the 2nd quarter. YorkBridge Wealth Partners LLC now owns 705 shares of the biopharmaceutical company’s stock worth $116,000 after acquiring an additional 317 shares in the last quarter. BB&T Investment Services Inc. lifted its stake in 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 acquiring an additional 786 shares in the last quarter. Steward Partners Investment Advisory LLC purchased a new stake in Shire in the 3rd quarter worth about $159,000. Pacer Advisors Inc. purchased a new stake in Shire in the 2nd quarter worth about $171,000. Finally, Stephens Inc. AR lifted its stake in Shire by 22.2% in the 2nd quarter. Stephens Inc. AR now owns 1,256 shares of the biopharmaceutical company’s stock worth $208,000 after acquiring an additional 228 shares in the last quarter. 20.19% of the stock is owned by hedge funds and other institutional investors.

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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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