Shire PLC (LON:SHP) shares traded down 2.3% during mid-day trading on Thursday after J P Morgan Chase & Co lowered their price target on the stock from GBX 5,500 to GBX 5,300. J P Morgan Chase & Co currently has an overweight rating on the stock. Shire PLC traded as low as GBX 3,926 ($50.70) and last traded at GBX 3,955 ($51.08). 2,245,875 shares changed hands during trading, a decline of 12% from the average session volume of 2,559,870 shares. The stock had previously closed at GBX 4,046.50 ($52.26).

SHP has been the topic of a number of other research reports. Citigroup Inc. restated a “buy” rating and set a GBX 6,300 ($81.36) price target on shares of Shire PLC in a report on Tuesday, August 22nd. Shore Capital reissued a “buy” rating on shares of Shire PLC in a research report on Tuesday, August 15th. Berenberg Bank reissued a “buy” rating and issued a GBX 6,000 ($77.49) target price on shares of Shire PLC in a research report on Wednesday, August 9th. Liberum Capital decreased their target price on shares of Shire PLC from GBX 4,900 ($63.28) to GBX 4,400 ($56.83) and set a “hold” rating for the company in a research report on Friday, August 11th. Finally, Deutsche Bank AG reissued a “buy” rating and issued a GBX 6,000 ($77.49) target price on shares of Shire PLC in a research report on Tuesday, June 27th. Four investment 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 an average rating of “Buy” and an average target price of GBX 5,837.29 ($75.39).

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

The firm’s market cap is GBX 35.85 billion. The stock’s 50 day moving average price is GBX 3,947.79 and its 200-day moving average price is GBX 4,405.93.

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

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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.

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