Shire plc (SHPG): Investor Day Summary - RBC
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RBC Capital analyst, Douglas Miehm reiterated his Outperform rating on shares of Shire (NASDAQ: SHPG) after attending Shire's annual investor day. The analyst believes Shire's pipeline is strong, diverse, and capable of generating significant returns over the next 12-48 months. The company continues to solidify itself as a leader in the treatment of rare diseases.
The overwhelming message from the investor day was Shire's confidence in its current hematology products and pipeline. The analyst believes the company already has an attractive franchise built upon Advate but its expertise has allowed it to prepare for competitive headwinds that may come to market in the coming years. Shire recently launched Adynovate (approved Q4/15) and SHP656, Shire's next-generation extended half-life product (once-weekly dosing), could commence a Ph. III in 2017.
No change to the price target of $235.00
Shares of Shire closed at $189.84 yesterday.
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