Shire PLC (LON:SHP) shares fell 2.2% during mid-day trading on Wednesday . The company traded as low as GBX 3,677.50 ($49.50) and last traded at GBX 3,677.50 ($49.50). 2,144,403 shares changed hands during mid-day trading, a decline of 16% from the average session volume of 2,560,000 shares. The stock had previously closed at GBX 3,760.50 ($50.61).

A number of brokerages recently issued reports on SHP. Deutsche Bank reissued a “buy” rating on shares of Shire in a research note on Monday. Citigroup restated a “buy” rating and issued a GBX 5,500 ($74.02) target price on shares of Shire in a research report on Friday, December 8th. Morgan Stanley restated an “overweight” rating and issued a GBX 5,700 ($76.72) target price on shares of Shire in a research report on Friday, December 1st. Societe Generale raised their target price on shares of Shire from GBX 7,500 ($100.94) to GBX 8,000 ($107.67) and gave the company a “buy” rating in a research report on Wednesday, November 29th. Finally, Goldman Sachs Group restated a “conviction-buy” rating and issued a GBX 6,000 ($80.75) target price on shares of Shire in a research report on Friday, November 24th. Four equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of GBX 5,277.78 ($71.03).

In other news, insider Anne Minto bought 190 shares of the company’s stock in a transaction that occurred on Friday, September 29th. The shares were acquired at an average price of GBX 3,785 ($50.94) per share, for a total transaction of £7,191.50 ($9,679.00).

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Shire 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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