Shire PLC (SHP) Price Target Lowered to GBX 5,300 at J P Morgan Chase & Co

Shire PLC (LON:SHP) had its price objective cut by J P Morgan Chase & Co from GBX 5,500 ($71.03) to GBX 5,300 ($68.45) in a report published on Wednesday morning, MarketBeat reports. They currently have an overweight rating on the biopharmaceutical company’s stock.

A number of other research firms have also recently commented on SHP. Barclays PLC reiterated an overweight rating and set a GBX 6,300 ($81.36) target price on shares of Shire PLC in a research report on Monday, July 3rd. Beaufort Securities restated a long term buy rating and issued a GBX 4,900 ($63.28) price target (down previously from GBX 6,200 ($80.07)) on shares of Shire PLC in a research report on Friday, August 4th. Deutsche Bank AG restated a buy rating and issued a GBX 6,100 ($78.78) price target on shares of Shire PLC in a research report on Friday, May 19th. Citigroup Inc. restated a buy rating and issued a GBX 6,300 ($81.36) price target on shares of Shire PLC in a research report on Tuesday, August 22nd. Finally, Liberum Capital restated a hold rating and issued a GBX 4,900 ($63.28) price target on shares of Shire PLC in a research report on Tuesday, July 18th. Four equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus price target of GBX 5,837.29 ($75.39).

Shares of Shire PLC (LON SHP) opened at 3919.00 on Wednesday. Shire PLC has a 1-year low of GBX 3,603.50 and a 1-year high of GBX 5,377.00. The firm’s 50-day moving average price is GBX 3,937.45 and its 200 day moving average price is GBX 4,399.41. The stock’s market cap is GBX 35.52 billion.

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The company also recently declared a dividend, which will be paid on Friday, October 20th. Stockholders of record on Thursday, September 7th will be paid a dividend of GBX 3.85 ($0.05) per share. This represents a dividend yield of 0.1%. The ex-dividend date is Thursday, September 7th.

In other news, insider Dominic Blakemore purchased 152 shares of the firm’s stock in a transaction dated Friday, June 30th. The shares were acquired at an average price of GBX 4,255 ($54.95) per share, with a total value of £6,467.60 ($8,352.83). Also, insider Flemming Ornskov purchased 8,400 shares of the firm’s stock in a transaction dated Tuesday, August 22nd. The shares were purchased at an average cost of GBX 3,665 ($47.33) per share, for a total transaction of £307,860 ($397,597.83).

About Shire PLC

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 (LON:SHP)

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