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Can Shire (SHPG) Continue to Surge?
February 20, 2014
One company that should be on your radar is Shire plc ( SHPG - Analyst Report) . The stock of this biopharmaceutical company has seen its Zacks Rank surge over the past four weeks, moving from Neutral territory to its current position as a Buy.
A key reason for this move has been the positive trend in the earnings estimate revisions picture. For SHPG’s full year estimate, we have seen 8 estimates go higher in the past 30 days, compared to none lower. This trend has helped the consensus estimate to trend higher, going from 8.93 cents a share a month ago to its current level at 9.42 cents.
This positive shift in estimates has made some investors take notice and buy the stock. In fact, SHPG has seen some pretty solid trading lately, as the company has moved higher by 11.2% in the past month.
If Shire can keep up this great momentum on the earnings estimate front and continue to impress analysts, we could see more gains ahead for this company, suggesting that you might want to put SHPG on your watch list for the future.
Other top-ranked stocks worth considering in this space include Endocyte, Inc. ( ECYT - Analyst Report) , Auxilium Pharmaceuticals Inc. and Forest Laboratories Inc. . All these carry a Zacks Rank #1 (Strong Buy).
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