Shire Plc. Rating Reiterated by Zacks (SHPG)
Shire Plc. (NASDAQ:SHPG)‘s stock had its “neutral” rating restated by Zacks in a research report issued on Thursday, Analyst Ratings Network reports. They currently have a $124.00 price objective on the stock. Zacks‘ price target would indicate a potential upside of 1.63% from the company’s current price.
Zacks‘ analyst wrote, “We are initiating coverage on Shire with a Neutral recommendation. Shire reported second quarter 2013 earnings of $1.79 per ADS, up from $1.68 per ADS in the year-ago quarter. The Zacks Consensus Estimate was $1.66. Quarterly revenues increased 6% to $1.3 billion, in line with the Zacks Consensus Estimate, driven by robust growth in product sales. Shire is well placed in the ADHD market thanks to key drug Vyvanse, which is now being developed for additional indications as well. We are encouraged by Shire’s recent focus on expansion in additional geographies like China, Brazil and Japan. However, we are concerned about the increasing competition in the ADHD market due to the entry of generics and a decline in royalties on Adderall XR. Additionally, drugs like Vpriv and Replagal are facing renewed competition from Sanofi’s Cerezyme and Fabrazyme, respectively.”
Shire Plc. (NASDAQ:SHPG) traded up 1.48% on Thursday, hitting $122.01. The stock had a trading volume of 250,384 shares. Shire Plc. has a one year low of $81.76 and a one year high of $124.96. The stock’s 50-day moving average is $117.6 and its 200-day moving average is $103.4. The company has a market cap of $22.352 billion and a P/E ratio of 37.99.
Shire Plc. (NASDAQ:SHPG) last issued its quarterly earnings data on Thursday, July 25th. The company reported $1.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.19. The company had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.21 billion. During the same quarter last year, the company posted $1.68 earnings per share. Shire Plc.’s revenue was up 5.5% compared to the same quarter last year. Analysts expect that Shire Plc. will post $6.85 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on SHPG. Analysts at Credit Suisse downgraded shares of Shire Plc. from an “outperform” rating to a “neutral” rating in a research note to investors on Thursday, October 10th. Separately, analysts at JPMorgan Chase & Co. upgraded shares of Shire Plc. from a “neutral” rating to an “overweight” rating in a research note to investors on Monday, September 30th. Finally, analysts at Deutsche Bank raised their price target on shares of Shire Plc. from $123.00 to $127.00 in a research note to investors on Monday, September 23rd. They now have a “buy” rating on the stock. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Shire Plc. presently has an average rating of “Buy” and an average price target of $122.43.
Shire plc (NASDAQ:SHPG) is a specialty biopharmaceutical company that focuses on meeting the needs of the specialist physician.
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