Shire PLC (SHPG) Downgraded to Sell at Zacks Investment Research

Zacks Investment Research downgraded shares of Shire PLC (NASDAQ:SHPG) from a hold rating to a sell rating in a research note issued to investors on Friday morning.

According to Zacks, “The approval of Mydayis is likely to boost Shire’s ADHD segment dominance while strong performance of Vyvanse, Cinryze and Elaprase will 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, acquiring roughly 23% of the total market by the end of Jun 2017. However, the adult ADHD space is one of the largest and fastest growing segments of the market but is highly genericized. Moreover, shares have underperformed the industry so far this year. Estimates have been stable ahead of Q3 earnings. The company has a mixed record of earnings surprises in recent quarters.”

Several other brokerages also recently weighed in on SHPG. FBR & Co started coverage on shares of Shire PLC in a research report on Thursday. They set a buy rating and a $201.00 price target for the company. Sanford C. Bernstein reissued a market perform rating and set a $210.00 price target on shares of Shire PLC in a research report on Thursday, July 13th. Cantor Fitzgerald reissued a buy rating and set a $222.00 price target on shares of Shire PLC in a research report on Thursday, September 14th. HSBC Holdings plc raised shares of Shire PLC from a reduce rating to a hold rating in a research report on Thursday, July 6th. Finally, ValuEngine downgraded shares of Shire PLC from a buy rating to a hold rating in a research report on Friday, September 1st. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and fourteen have given a buy rating to the stock. The stock currently has an average rating of Hold and a consensus target price of $219.25.

Shares of Shire PLC (NASDAQ:SHPG) traded down 1.74% during trading on Friday, hitting $145.25. The stock had a trading volume of 1,078,686 shares. The stock has a 50 day moving average of $153.97 and a 200 day moving average of $164.18. Shire PLC has a 52-week low of $139.36 and a 52-week high of $192.64. The firm has a market cap of $43.26 billion, a PE ratio of 64.99 and a beta of 1.63.

Shire PLC (NASDAQ:SHPG) last announced its quarterly earnings results on Friday, October 27th. The biopharmaceutical company reported $3.37 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $3.66 by ($0.29). Shire PLC had a net margin of 4.70% and a return on equity of 14.10%. On average, equities analysts anticipate that Shire PLC will post $14.92 EPS for the current year.

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The firm also recently declared a semiannual dividend, which was paid on Friday, October 20th. Stockholders of record on Friday, September 8th were paid a dividend of $0.1527 per share. This represents a dividend yield of 0.21%. The ex-dividend date of this dividend was Thursday, September 7th. Shire PLC’s dividend payout ratio is presently 41.07%.

Several institutional investors have recently modified their holdings of SHPG. Hartford Financial Management Inc. boosted its stake in shares of Shire PLC by 5.4% during the 2nd quarter. Hartford Financial Management Inc. now owns 621 shares of the biopharmaceutical company’s stock worth $102,000 after acquiring an additional 32 shares during the last quarter. YorkBridge Wealth Partners LLC boosted its stake in shares of Shire PLC by 81.7% during the 2nd quarter. YorkBridge Wealth Partners LLC now owns 705 shares of the biopharmaceutical company’s stock worth $116,000 after acquiring an additional 317 shares during the last quarter. Pacer Advisors Inc. purchased a new position in shares of Shire PLC during the 2nd quarter worth $171,000. Tower Research Capital LLC TRC boosted its stake in shares of Shire PLC by 45.3% during the 1st quarter. Tower Research Capital LLC TRC now owns 1,122 shares of the biopharmaceutical company’s stock worth $195,000 after acquiring an additional 350 shares during the last quarter. Finally, Iberiabank Corp purchased a new position in shares of Shire PLC during the 2nd quarter worth $203,000. Institutional investors and hedge funds own 19.24% of the company’s stock.

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.

Analyst Recommendations for Shire PLC (NASDAQ:SHPG)

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