Shire PLC (SHP) Trading 0% Higher After Analyst Upgrade

Shire PLC (LON:SHP) traded up 0% during mid-day trading on Monday after Berenberg Bank raised their price target on the stock from GBX 5,900 to GBX 6,000. Berenberg Bank currently has a buy rating on the stock. Shire PLC traded as high as GBX 3,717.50 ($48.90) and last traded at GBX 3,742 ($49.22). 1,515,655 shares traded hands during mid-day trading, a decline of 37% from the average session volume of 2,390,000 shares. The stock had previously closed at GBX 3,742 ($49.22).

A number of other brokerages have also recently issued reports on SHP. Liberum Capital reaffirmed a “hold” rating and issued a GBX 4,900 ($64.45) target price on shares of Shire PLC in a report on Monday, July 10th. J P Morgan Chase & Co reaffirmed an “overweight” rating and issued a GBX 6,000 ($78.92) target price on shares of Shire PLC in a report on Tuesday, July 11th. Shore Capital reaffirmed a “buy” rating on shares of Shire PLC in a report on Wednesday, July 19th. Societe Generale reaffirmed a “buy” rating and issued a GBX 7,500 ($98.65) target price on shares of Shire PLC in a report on Wednesday, July 12th. Finally, Credit Suisse Group reissued an “outperform” rating and issued a GBX 5,350 ($70.37) price target on shares of Shire PLC in a report on Friday, August 4th. Four research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. Shire PLC currently has a consensus rating of “Buy” and an average price target of GBX 5,358.82 ($70.48).

In other news, insider Anne Minto purchased 190 shares of Shire PLC stock in a transaction that occurred on Friday, September 29th. The shares were acquired at an average price of GBX 3,785 ($49.78) per share, for a total transaction of £7,191.50 ($9,458.77). Also, insider Flemming Ornskov purchased 8,400 shares of Shire PLC stock in a transaction that occurred on Tuesday, August 22nd. The shares were purchased at an average price of GBX 3,665 ($48.20) per share, for a total transaction of £307,860 ($404,919.11).

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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.

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