Shire PLC (SHP) Lowered to Reduce at HSBC Holdings plc
Shire PLC (LON:SHP) was downgraded by investment analysts at HSBC Holdings plc to a “reduce” rating in a research note issued on Friday, May 19th. They presently have a GBX 4,450 ($57.89) target price on the biopharmaceutical company’s stock, down from their prior target price of GBX 4,550 ($59.19). HSBC Holdings plc’s target price would suggest a potential downside of 4.33% from the company’s current price.
Several other research analysts have also recently weighed in on the stock. Credit Suisse Group AG reissued an “outperform” rating and set a GBX 5,400 ($70.25) price objective on shares of Shire PLC in a report on Wednesday, April 19th. Barclays PLC assumed coverage on shares of Shire PLC in a report on Wednesday, March 8th. They set an “overweight” rating and a GBX 6,500 ($84.56) price objective for the company. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a GBX 6,000 ($78.05) target price on shares of Shire PLC in a report on Monday, March 27th. Goldman Sachs Group Inc reaffirmed a “conviction-buy” rating and set a GBX 6,800 ($88.46) target price on shares of Shire PLC in a report on Thursday, April 27th. Finally, Berenberg Bank reaffirmed a “buy” rating on shares of Shire PLC in a report on Wednesday, April 12th. One analyst has rated the stock with a sell rating and seventeen have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of GBX 6,108.38 ($79.46).
Shares of Shire PLC (LON:SHP) traded down 1.825665% during midday trading on Friday, hitting GBX 4657.087402. 3,659,137 shares of the stock traded hands. Shire PLC has a 52 week low of GBX 2,707.19 and a 52 week high of GBX 5,377.00. The company’s 50-day moving average is GBX 4,635.06 and its 200 day moving average is GBX 4,662.20. The firm’s market capitalization is GBX 42.25 billion.
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In related news, insider William Burns bought 136 shares of the company’s stock in a transaction that occurred on Friday, March 31st. The stock was purchased at an average price of GBX 4,742 ($61.69) per share, for a total transaction of £6,449.12 ($8,389.64).
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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