Shire PLC (SHPG) Coverage Initiated at Evercore ISI
Investment analysts at Evercore ISI assumed coverage on shares of Shire PLC (NASDAQ:SHPG) in a note issued to investors on Wednesday. The brokerage set an “outperform” rating and a $196.00 price target on the biopharmaceutical company’s stock. Evercore ISI’s price target suggests a potential upside of 32.04% from the company’s previous close.
Several other analysts have also recently commented on the stock. Zacks Investment Research cut shares of Shire PLC from a “hold” rating to a “sell” rating in a research report on Monday, July 17th. BidaskClub lowered shares of Shire PLC from a “hold” rating to a “sell” rating in a report on Saturday, July 1st. Royal Bank Of Canada reissued an “outperform” rating and issued a $221.00 price target on shares of Shire PLC in a report on Tuesday, April 18th. BTIG Research reissued a “buy” rating and issued a $242.00 price target on shares of Shire PLC in a report on Monday, July 17th. Finally, HSBC Holdings plc lowered shares of Shire PLC from a “hold” rating to a “reduce” rating in a report on Friday, May 19th. One analyst has rated the stock with a sell rating, nine have given a hold rating and fifteen have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $220.08.
Shares of Shire PLC (NASDAQ:SHPG) opened at 148.44 on Wednesday. Shire PLC has a 1-year low of $147.28 and a 1-year high of $209.22.
Shire PLC (NASDAQ:SHPG) last issued its earnings results on Thursday, August 3rd. The biopharmaceutical company reported $3.73 EPS for the quarter, beating the consensus estimate of $3.53 by $0.20. The company had revenue of $3.75 billion during the quarter. Shire PLC had a net margin of 4.70% and a return on equity of 14.10%. The business’s revenue was up 54.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.38 EPS. Equities research analysts forecast that Shire PLC will post $14.92 EPS for the current fiscal year.
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Large investors have recently modified their holdings of the stock. Macquarie Group Ltd. boosted its position in Shire PLC by 2.2% in the fourth quarter. Macquarie Group Ltd. now owns 1,417 shares of the biopharmaceutical company’s stock valued at $241,000 after buying an additional 31 shares in the last quarter. Fox Run Management L.L.C. bought a new position in Shire PLC during the first quarter valued at $662,000. Cohen Capital Management Inc. bought a new position in Shire PLC during the first quarter valued at $155,000. Gateway Investment Advisers LLC boosted its position in Shire PLC by 17.7% in the first quarter. Gateway Investment Advisers LLC now owns 29,806 shares of the biopharmaceutical company’s stock valued at $5,193,000 after buying an additional 4,488 shares in the last quarter. Finally, Duff & Phelps Investment Management Co. boosted its position in Shire PLC by 14.9% in the first quarter. Duff & Phelps Investment Management Co. now owns 34,473 shares of the biopharmaceutical company’s stock valued at $6,004,000 after buying an additional 4,478 shares in the last quarter. 20.22% 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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