Shire PLC (SHPG) Short Interest Down 23.1% in June

Shire PLC (NASDAQ:SHPG) was the target of a large drop in short interest in the month of June. As of June 15th, there was short interest totalling 1,426,267 shares, a drop of 23.1% from the May 31st total of 1,853,536 shares. Based on an average trading volume of 829,895 shares, the days-to-cover ratio is presently 1.7 days. Currently, 0.5% of the company’s stock are sold short.

Shire opened at $168.41 on Friday, MarketBeat Ratings reports. The company has a current ratio of 1.14, a quick ratio of 0.66 and a debt-to-equity ratio of 0.45. The stock has a market cap of $49.15 billion, a price-to-earnings ratio of 11.12, a PEG ratio of 1.34 and a beta of 1.29. Shire has a fifty-two week low of $123.73 and a fifty-two week high of $177.51.

Shire (NASDAQ:SHPG) last posted its quarterly earnings results on Thursday, April 26th. The biopharmaceutical company reported $3.86 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.58 by $0.28. The business had revenue of $3.77 billion for the quarter. Shire had a return on equity of 13.60% and a net margin of 28.96%. The firm’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.63 EPS. research analysts forecast that Shire will post 15.27 earnings per share for the current year.

Institutional investors have recently bought and sold shares of the business. Avestar Capital LLC purchased a new stake in Shire during the 4th quarter valued at about $116,000. Sawtooth Solutions LLC purchased a new stake in Shire during the 4th quarter valued at about $200,000. Resources Investment Advisors Inc. grew its stake in Shire by 70.2% during the 1st quarter. Resources Investment Advisors Inc. now owns 1,540 shares of the biopharmaceutical company’s stock valued at $230,000 after purchasing an additional 635 shares during the last quarter. United Bank purchased a new stake in Shire during the 1st quarter valued at about $245,000. Finally, Shepherd Kaplan Krochuk LLC purchased a new stake in Shire during the 1st quarter valued at about $254,000. Institutional investors and hedge funds own 17.92% of the company’s stock.

A number of brokerages have recently issued reports on SHPG. Kepler Capital Markets reiterated a “buy” rating on shares of Shire in a report on Friday, May 11th. BTIG Research reiterated a “buy” rating and issued a $195.00 price target on shares of Shire in a report on Sunday, April 29th. Royal Bank of Canada reiterated a “buy” rating on shares of Shire in a report on Tuesday, May 8th. B. Riley lifted their price target on Shire to $200.00 and gave the company a “buy” rating in a report on Thursday, April 19th. Finally, Zacks Investment Research upgraded Shire from a “sell” rating to a “hold” rating in a research note on Monday, April 23rd. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and twelve have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $201.64.

About Shire

Shire plc, a biotechnology company, researches, develops, licenses, manufactures, markets, distributes, and sells medicines for rare diseases and other specialized conditions worldwide. The company offers products in therapeutic areas, including hematology, genetic diseases, neuroscience, immunology, internal medicine, ophthalmology, and oncology.

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