Source - SMW
Liberum has downgraded biotech company Shire (LON:SHP) to hold (from buy), believing the risk/reward is fairly balanced.

The broker said: "We see the risk/reward through competitor newsflow in hemophilia in H2 as correctly priced in, whilst there is meaningful longer term risk from the >$2bn post 2022 earnings hole that we think needs to be filled through M&A in which the company has a chequered track record."

Analysts have cut their target price to £49 (from £55).

At 3:35pm: (LON:SHP) Shire PLC share price was -5.75p at 4465.75p