Shire PLC (SHPG) Cut to “Market Perform” at Sanford C. Bernstein
Shire PLC (NASDAQ:SHPG) was downgraded by equities researchers at Sanford C. Bernstein from an “outperform” rating to a “market perform” rating in a research note issued on Thursday. They currently have a $161.09 price target on the biopharmaceutical company’s stock, down from their previous price target of $209.22. Sanford C. Bernstein’s price target indicates a potential downside of 9.08% from the stock’s previous close.
SHPG has been the subject of several other reports. Barclays PLC started coverage on Shire PLC in a research note on Tuesday, March 7th. They issued an “overweight” rating for the company. Goldman Sachs Group Inc raised their price objective on Shire PLC from $202.00 to $214.00 and gave the stock an “overweight” rating in a research note on Monday, April 17th. HSBC Holdings plc cut Shire PLC from a “hold” rating to a “reduce” rating in a research note on Friday, May 19th. Jefferies Group LLC set a $239.00 price objective on Shire PLC and gave the stock a “buy” rating in a research note on Friday, February 17th. Finally, Royal Bank of Canada restated a “buy” rating and issued a $221.00 price objective on shares of Shire PLC in a research note on Tuesday, March 14th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $210.89.
Shares of Shire PLC (NASDAQ:SHPG) traded down 4.13% during trading on Thursday, reaching $177.18. The company’s stock had a trading volume of 1,665,914 shares. Shire PLC has a 12-month low of $161.09 and a 12-month high of $209.22. The firm’s 50-day moving average is $178.41 and its 200-day moving average is $175.21. The stock has a market capitalization of $52.77 billion, a PE ratio of 181.72 and a beta of 1.53.
Shire PLC (NASDAQ:SHPG) last announced its quarterly earnings data on Tuesday, May 2nd. The biopharmaceutical company reported $3.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.22 by $0.41. Shire PLC had a return on equity of 14.81% and a net margin of 1.62%. The firm had revenue of $3.57 billion during the quarter. During the same quarter in the previous year, the business earned $2.12 earnings per share. The company’s revenue for the quarter was up 109.0% compared to the same quarter last year. Equities analysts expect that Shire PLC will post $15.00 earnings per share for the current year.
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A number of hedge funds have recently modified their holdings of SHPG. Whittier Trust Co. raised its stake in shares of Shire PLC by 19.1% in the first quarter. Whittier Trust Co. now owns 573 shares of the biopharmaceutical company’s stock valued at $100,000 after buying an additional 92 shares during the last quarter. Pinnacle Bank acquired a new stake in shares of Shire PLC during the first quarter valued at approximately $101,000. Thompson Davis & CO. Inc. raised its stake in shares of Shire PLC by 3.1% in the first quarter. Thompson Davis & CO. Inc. now owns 640 shares of the biopharmaceutical company’s stock valued at $112,000 after buying an additional 19 shares during the last quarter. Sowell Financial Services LLC acquired a new stake in shares of Shire PLC during the fourth quarter valued at approximately $126,000. Finally, North Star Investment Management Corp. raised its stake in shares of Shire PLC by 8.5% in the first quarter. North Star Investment Management Corp. now owns 756 shares of the biopharmaceutical company’s stock valued at $132,000 after buying an additional 59 shares during the last quarter. 22.69% of the stock is currently owned by institutional investors.
About Shire PLC
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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