Shire PLC (LON:SHP)’s share price dropped 0% on Wednesday . The company traded as low as GBX 3,647.50 ($49.46) and last traded at GBX 3,661 ($49.65). Approximately 1,690,000 shares were traded during trading, a decline of 25% from the average daily volume of 2,250,000 shares. The stock had previously closed at GBX 3,661 ($49.65).

SHP has been the topic of a number of recent analyst reports. Barclays reissued an “equal weight” rating and set a GBX 4,000 ($54.24) price target on shares of Shire in a research report on Monday, October 30th. Shore Capital reaffirmed a “buy” rating on shares of Shire in a research report on Thursday, October 26th. Goldman Sachs Group reaffirmed a “conviction-buy” rating on shares of Shire in a research report on Tuesday, October 17th. Morgan Stanley decreased their target price on Shire from GBX 5,800 ($78.65) to GBX 5,700 ($77.30) and set an “overweight” rating on the stock in a research report on Thursday, October 12th. Finally, decreased their target price on Shire from GBX 4,480 ($60.75) to GBX 4,050 ($54.92) and set a “hold” rating on the stock in a research report on Tuesday, October 31st. Five research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued 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 5,152.94 ($69.88).

The stock has a market capitalization of $33,120.00 and a P/E ratio of 2,753.44.

In related news, insider Dominic Blakemore acquired 165 shares of the firm’s stock in a transaction that occurred on Tuesday, December 19th. The stock was acquired at an average cost of GBX 3,790 ($51.40) per share, for a total transaction of £6,253.50 ($8,480.47).

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About Shire

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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