Shire plc (SHPG): Pressure Creates Buying Opportunity - BTIG

BTIG analyst, Timothy Chiang, reiterated his Buy rating on shares of Shire (NASDAQ: SHPG) and thinks the recent pressure on shares represents a buying opportunity.

The analyst believes the competitive threat of Roche / Chugai's new monoclonal antibody, emicizumab (a new once-weekly subq injection for the treatment of hemophilia A), becoming a new treatment alternative for hemophilia patients, is already priced into the stock.

Shire shares are now trading near their 52-week lows and the analyst believes the company should be proactive and announce a share repurchase. The analyst believes that the company has the potential to generate ~$15B in total revenue, with more than $6B of EBITDA.

No change to the price target of $242.

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

Shares of Shire closed at $163.23 yesterday.

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