J P Morgan Chase & Co Cuts Shire PLC (SHP) Price Target to GBX 5,300
Shire PLC (LON:SHP) had its target price decreased by equities researchers at J P Morgan Chase & Co from GBX 5,500 ($71.03) to GBX 5,300 ($68.45) in a research report issued to clients and investors on Wednesday, MarketBeat.com reports. The brokerage presently has an “overweight” rating on the biopharmaceutical company’s stock. J P Morgan Chase & Co’s price target would indicate a potential upside of 35.24% from the stock’s current price.
Other equities research analysts also recently issued research reports about the company. Shore Capital reissued a “buy” rating on shares of Shire PLC in a research report on Wednesday, June 21st. Deutsche Bank AG reissued a “buy” rating and set a GBX 6,100 ($78.78) price target on shares of Shire PLC in a research report on Friday, May 19th. Citigroup Inc. reissued a “buy” rating and set a GBX 6,500 ($83.95) price target on shares of Shire PLC in a research report on Wednesday, May 17th. Liberum Capital reissued a “buy” rating and set a GBX 5,500 ($71.03) price target on shares of Shire PLC in a research report on Friday, May 26th. Finally, Jefferies Group LLC reduced their price target on Shire PLC from GBX 6,400 ($82.66) to GBX 5,600 ($72.32) and set a “buy” rating on the stock in a research report on Friday, June 9th. Four research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. Shire PLC currently has a consensus rating of “Buy” and a consensus target price of GBX 5,837.29 ($75.39).
Shire PLC (LON:SHP) traded down 0.91% during trading on Wednesday, hitting GBX 3919.00. The company had a trading volume of 3,246,362 shares. The company’s market capitalization is GBX 35.52 billion. Shire PLC has a one year low of GBX 3,603.50 and a one year high of GBX 5,377.00. The stock has a 50-day moving average of GBX 3,937.45 and a 200 day moving average of GBX 4,399.41.
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In other news, insider Flemming Ornskov purchased 8,400 shares of the company’s stock in a transaction dated Tuesday, August 22nd. The stock was bought at an average cost of GBX 3,665 ($47.33) per share, for a total transaction of £307,860 ($397,597.83). Also, insider Dominic Blakemore purchased 152 shares of the company’s stock in a transaction dated Friday, June 30th. The stock was purchased at an average price of GBX 4,255 ($54.95) per share, with a total value of £6,467.60 ($8,352.83).
Shire PLC 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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