Leerink Swann Upgrades Shire plc (SHPGY) to Outperform; Market Opportunity Looks Compelling

June 12, 2012 5:29 PM EDT
Get Alerts SHPGY Hot Sheet
Price: $85.67 -0.2%

Rating Summary:
    9 Buy, 5 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 35 | Down: 31 | New: 11
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Leerink Swann upgraded Shire plc (NASDAQ: SHPGY) from Market Perform to Outperform with a price target of $110.00 (from $106.00).

Analyst, Jason M. Gerberry, said, "We are upgrading SHPGY for several reasons (1) the underappreciated potential of Vyvanse in adjunctive Major Depressive Disorder (aMDD) based on increasingly positive feedback from MEDACorp clinical KOL’s, our discussions with SHPGY and the fact that we could see topline Ph. III data in the next 12-18 months; (2) a valuation that we believe largely reflects the generic risks to Adderall XR and Intuniv; and (3) cont’d strong US ADHD Rx trends."

FY12 EPS estimate raised from $6.08 to $6.09 and FY13 from $7.14 to $6.79.

For an analyst ratings summary and ratings history on Shire plc click here. For more ratings news on Shire plc click here.

Shares of Shire plc closed at $87.37 yesterday.

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