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Mr Ornskov will be pleased with a quick £15k profit from his share purchase last week. Maybe he knew the SP was probably at the bottom.

And another Director bought 1250 ADRs @$143 This is another sign that the Directors genuinely belief the SP is lower than it should be.

Despite the article a few weeks back in the Standard, we now know for certain that there are no takeover discussions being held. Whilst this was unlikely, it is a shame to have it confirmed. It would be nice if Trump can get his tax reforms done so that Pharma M&A can restart.

The CEO buying shares (8400) is a good sign. This cost more than £250k so not insignificant.

This is highly unlikely to go anywhere near £28. Bottom may have been reached or close to. Nice to see that the CEO spent quarter of a million on shares today. That is a good sign.

Looks like SHP had a word with its brokers last night as 3 of them issued buy or out-perform notes this morning!

Resignation of CFO not gone down too well by the looks... 36.50 as we speak

I agree that something quite unusual has been happening recently that makes little sense. Perhaps a major shorter does explain it in theory. But I struggle with concept of shorting such a large stock that has already fallen to a year low and is producing very acceptable results. Where would they expect this to go from here? Unless something else is going on like some significant manipulation prior to someone taking a major stake or thinking of making a bid at a relatively low price but at a decent premium to the prevailing SP.

Where is the evidence of this being shorted?

Am I correct in believing that the PE ratio has dipped below 10? Putting aside all of the fancy ways of valuing shares, surely a PE of 10 in a growing sector is way off the mark and is way off its peers too. Recent guidance was for $15 per ADR which is $5 dollars per share. Closing ADR price last was a snip below $150.

And Berenberg issued a buy note with 60 target

Barclays Capital downgraded. Liberum remained hold but lowered price to 44 from 49

Why would you worry about a 4p drop because of the ex-div compared to the 400p drop since last week?

The day would not be complete without this share price turning red. After a positive start it is heading south once more. Where and when will this downward streak end? Mid 30s by the look of it and before the year is out. very depressing.

At basic level, any share price is purely based on interaction of buyers verses sellers. Less that 3 months ago, the SP hit 50 (ok briefly but was in higher 40s at least). Since then the SP has gone (and continues to go) south. Therefore there have been a lot more sellers than buyers and those sellers have been willing to accept (and continue to be willing) 40 (and sub 40 as I write this). So, my question is, why are there more sellers than buyers? What has changed? And why are those sellers willing to accept sub 40 now whereas they have not over the last 12 months. There has not been a general market meltdown. There has not been any bad news (probably the opposite). The view of future trading appears reasonably consistent. So why are we where we are?

Jon, you raise some good points. I totally agree re analysts forecasts as they seldom justify them. I partially agree re valuation but I now think it is under-valued even using old fashioned metrics. It seems to have swung from one extreme to another. There appears to be a lack of serious share buying from the institutions an PIs are not going to make much difference. I would love some new takeover speculation but hand on heart I can't see it happening any time soon. What are your predictions for SP end of 17 and end of 18?

The SP opened at 51.35 and closed at 50.30. So given Baxalta integration has gone well and both the existing businesses and Baxalta businesses have performed well and stock market has been remarkably robust, why are we now at 40? Baffling to me and I struggle to find any logical explanation. In fact my research found this article (4th August) which suggests that the markets judged the result wrongly https://seekingalpha.com/article/4095109-shire-q2-2017-market-reaction-makes-sense

Ok Guys, This is all rather depressing so how about some crystal ball gazing for light relief. What are your predictions for the SHP share price at 30/9/17, 31/12/17 and 31/12/18? I'm going for 39.50, 41.50 and 44.00. Guesses on a postcard please.......

Ouch