Deutsche Bank Maintains a 'Buy' on Shire plc (SHPGY) Despite Disappointing Lialda Diverticulitis Ph 3 Results
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Price: $85.67 -0.2%
Rating Summary:
8 Buy, 5 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
8 Buy, 5 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Deutsche Bank maintains a 'Buy' on Shire plc (NASDAQ: SHPGY) price target lowered from $116 to $105.
Analyst, David M. Steinberg, said, "On Friday, Shire announced that PREVENT 2 – one of the two Ph 3 studies on Lialda for the treatment of diverticulitis – did not meet its primary endpoint of reduction in the rate of recurrence over a two year period. While there is another trial (PREVENT 1) that will read out later this year, the co has decided not to pursue a regulatory filing for this indication at this time. That said, based what we view as the best “young” portfolio in specialty pharma, largely comprised of long life cycle products (key patents do not expire until 2018-2020+), we continue see Shire capable of posting multi-year, double digit EPS growth."
"...We now project 2013-2015 EPS of $5.04B and $6.75, $5.31B and $7.47, and $5.68B and $8.25 vs $5.06B and $6.80, $5.37B and $7.58, and $5.78B and $8.46, respectively."
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 $94.75 yesterday.
Analyst, David M. Steinberg, said, "On Friday, Shire announced that PREVENT 2 – one of the two Ph 3 studies on Lialda for the treatment of diverticulitis – did not meet its primary endpoint of reduction in the rate of recurrence over a two year period. While there is another trial (PREVENT 1) that will read out later this year, the co has decided not to pursue a regulatory filing for this indication at this time. That said, based what we view as the best “young” portfolio in specialty pharma, largely comprised of long life cycle products (key patents do not expire until 2018-2020+), we continue see Shire capable of posting multi-year, double digit EPS growth."
"...We now project 2013-2015 EPS of $5.04B and $6.75, $5.31B and $7.47, and $5.68B and $8.25 vs $5.06B and $6.80, $5.37B and $7.58, and $5.78B and $8.46, respectively."
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 $94.75 yesterday.
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