Shire plc SHPG was a big mover last session, as the company saw its shares rise more than 12% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This breaks the recent trend of the company, as the stock is now trading above the volatile price range of $126.39 to $134.68 in the past one-month time frame.
The stock gained after news that Takeda Pharmaceutical, Japan's largest drug maker, was considering a bid for the company that could exceed $40 billion.
The company has seen no changes when it comes to estimate revision over the past few weeks, while the Zacks Consensus Estimate for the current quarter has also remained unchanged. The recent price action is encouraging though, so make sure to keep a close watch on this firm in the near future.
Shire (SHPG) currently has a Zacks Rank #3 (Hold) while its Earnings ESP is negative.
Investors interested in the Medical – Drugs industry may consider Eisai Co., Ltd. ESALY, which has a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
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