Shire (SHPG) Downgraded to Sell at Zacks Investment Research
Zacks Investment Research lowered shares of Shire (NASDAQ:SHPG) from a hold rating to a sell rating in a research report sent to investors on Tuesday morning.
According to Zacks, “The sales of Mydayis did not meet Shire’s expectation while strong performance of Vyvanse, Cinryze and Elaprase continue to drive Shire’s top line. The label expansion of Cinryze in paediatrics and conditional approval of Natpara in Europe should continue to drive the top line going ahead. The hematology and immunology segment, acquired from Baxalta, gave a major boost to product sales. The approval of Xiidra has boosted the company’s ophthalmology portfolio. However, the adult ADHD space is one of the largest and fastest growing segments of the market but is highly genericized. Supply shortage for Cinryze and generic competition for Lialda had an unfavorable impact on the top line. Moreover, its shares have underperformed the industry in the past one year. Estimates have increased ahead of the Q4 earnings results. The company has a positive record of earnings surprises in recent quarters.”
Several other equities research analysts also recently weighed in on SHPG. Cantor Fitzgerald reissued a buy rating and set a $222.00 price target on shares of Shire in a research report on Thursday, September 14th. Royal Bank of Canada reissued a buy rating and set a $213.00 price target on shares of Shire in a research report on Monday, October 2nd. Stifel Nicolaus reissued a buy rating and set a $245.00 price target on shares of Shire in a research report on Sunday, October 8th. FBR & Co initiated coverage on shares of Shire in a research report on Thursday, October 19th. They set a buy rating and a $201.00 price target for the company. Finally, ValuEngine raised shares of Shire from a hold rating to a buy rating in a research report on Thursday, October 26th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company’s stock. Shire has an average rating of Hold and an average price target of $212.18.
Shire (NASDAQ:SHPG) last announced its earnings results on Friday, October 27th. The biopharmaceutical company reported $3.81 earnings per share for the quarter, beating the Zacks’ consensus estimate of $3.64 by $0.17. The business had revenue of $3.70 billion during the quarter. Shire had a net margin of 10.95% and a return on equity of 14.41%. Shire’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same period in the prior year, the business posted $3.17 EPS. research analysts forecast that Shire will post 15 earnings per share for the current year.
A number of hedge funds have recently modified their holdings of SHPG. Federated Investors Inc. PA boosted its holdings in Shire by 38.8% in the second quarter. Federated Investors Inc. PA now owns 9,153 shares of the biopharmaceutical company’s stock worth $1,513,000 after purchasing an additional 2,560 shares during the last quarter. Pacer Advisors Inc. purchased a new stake in Shire in the second quarter worth approximately $171,000. Neuberger Berman Group LLC boosted its holdings in Shire by 25.2% in the second quarter. Neuberger Berman Group LLC now owns 18,713 shares of the biopharmaceutical company’s stock worth $3,093,000 after purchasing an additional 3,769 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its holdings in Shire by 4.5% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 4,149 shares of the biopharmaceutical company’s stock worth $686,000 after purchasing an additional 177 shares during the last quarter. Finally, Commerce Bank boosted its holdings in Shire by 2.5% in the second quarter. Commerce Bank now owns 4,220 shares of the biopharmaceutical company’s stock worth $698,000 after purchasing an additional 103 shares during the last quarter. Institutional investors own 20.19% of the company’s stock.
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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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