RBC Capital Markets Reiterates “Outperform” Rating for Shire PLC (SHPG)
Shire PLC (NASDAQ:SHPG)‘s stock had its “outperform” rating reaffirmed by analysts at RBC Capital Markets in a research note issued on Friday. They currently have a $235.00 price objective on the biopharmaceutical company’s stock. RBC Capital Markets’ target price would indicate a potential upside of 27.05% from the company’s previous close.
Several other brokerages also recently issued reports on SHPG. Jefferies Group reaffirmed a “buy” rating and issued a $262.00 price target on shares of Shire PLC in a report on Tuesday, September 20th. HSBC downgraded shares of Shire PLC from a “buy” rating to a “hold” rating in a report on Monday, September 26th. JPMorgan Chase & Co. reaffirmed an “overweight” rating on shares of Shire PLC in a report on Monday, September 26th. Citigroup Inc. reaffirmed a “buy” rating on shares of Shire PLC in a report on Wednesday, August 3rd. Finally, Leerink Swann reissued an “outperform” rating and set a $231.00 price objective (up previously from $213.00) on shares of Shire PLC in a research note on Wednesday, August 3rd. Four research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $222.06.
Shares of Shire PLC (NASDAQ:SHPG) opened at 184.96 on Friday. The company has a 50-day moving average of $0.00 and a 200 day moving average of $0.00. Shire PLC has a 12-month low of $147.60 and a 12-month high of $219.52.
Shire PLC (NASDAQ:SHPG) last announced its quarterly earnings results on Tuesday, November 1st. The biopharmaceutical company reported $3.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.21 by $0.04. Shire PLC had a net margin of 1.62% and a return on equity of 14.81%. The business earned $3.45 billion during the quarter, compared to analysts’ expectations of $3.57 billion. During the same period last year, the company earned $3.24 EPS. The firm’s revenue for the quarter was up 108.6% on a year-over-year basis. On average, equities research analysts expect that Shire PLC will post $12.96 earnings per share for the current year.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Jennison Associates LLC increased its position in Shire PLC by 13.2% in the second quarter. Jennison Associates LLC now owns 8,294,030 shares of the biopharmaceutical company’s stock worth $1,526,765,000 after buying an additional 968,101 shares during the period. FMR LLC increased its position in Shire PLC by 86.7% in the second quarter. FMR LLC now owns 2,663,506 shares of the biopharmaceutical company’s stock worth $490,297,000 after buying an additional 1,237,100 shares during the period. Lone Pine Capital LLC bought a new position in Shire PLC during the second quarter worth approximately $465,566,000. Capital World Investors bought a new position in Shire PLC during the second quarter worth approximately $285,568,000. Finally, Vanguard Group Inc. bought a new position in Shire PLC during the second quarter worth approximately $278,421,000. Hedge funds and other institutional investors own 24.62% of the company’s stock.
Shire PLC Company Profile
Shire plc is a biotech company. The Company, along with its subsidiaries, is engaged in developing and marketing medicines for patients with rare diseases and other select conditions. The Company operates in the segment of research, development, licensing, manufacturing, marketing, distribution and sale of specialist medicines.
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