Emergent Biosolutions Inc. (EBS) Lowered to “Strong Sell” at Zacks Investment Research
According to Zacks, “Emergent aims to offer specialized products to health care providers and governments to fulfil unmet medical needs and combat threats posed by serious diseases to human health. The company derives the majority of revenues from sales of its key product BioThrax to its principal purchaser, the U.S. government. Its sole dependence on BioThrax for revenues has its inherent risks and thus remains a concern. Any hiccup in the production of BioThrax could hurt the company’s top line significantly. Moreover, Emergent faces competition from a number of companies with biodefense products or candidates under development for both the U.S. government procurement and development resources. Stiff competition remains a concern as well. However, Emergent has secured a multi-year contract with the BARDA, for the advanced development and delivery of its next generation anthrax vaccine candidate, NuThrax. Its approval will be a huge boost for the company.”
Other equities research analysts have also recently issued reports about the stock. Wells Fargo & Co. set a $41.00 price objective on shares of Emergent Biosolutions and gave the stock a buy rating in a research report on Saturday, October 1st. Singular Research cut their price objective on shares of Emergent Biosolutions from $44.00 to $40.00 and set a buy rating for the company in a research report on Tuesday, June 28th. Cowen and Company restated a hold rating and set a $33.00 price objective on shares of Emergent Biosolutions in a research report on Sunday, August 7th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Emergent Biosolutions from $45.00 to $36.00 and set an overweight rating for the company in a research report on Friday, August 5th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company’s stock. Emergent Biosolutions currently has an average rating of Buy and a consensus price target of $40.17.
Shares of Emergent Biosolutions (NYSE:EBS) opened at 32.23 on Wednesday. Emergent Biosolutions has a 12-month low of $26.12 and a 12-month high of $44.38. The company has a market cap of $1.30 billion, a price-to-earnings ratio of 23.05 and a beta of 1.12. The stock has a 50 day moving average of $28.05 and a 200 day moving average of $34.09.
Emergent Biosolutions (NYSE:EBS) last issued its earnings results on Thursday, August 4th. The biopharmaceutical company reported ($0.18) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.17) by $0.01. The business earned $101.49 million during the quarter, compared to analyst estimates of $111.20 million. Emergent Biosolutions had a net margin of 11.61% and a return on equity of 11.93%. Emergent Biosolutions’s quarterly revenue was down 19.5% on a year-over-year basis. During the same quarter last year, the company earned $0.36 earnings per share. Analysts forecast that Emergent Biosolutions will post $1.03 earnings per share for the current year.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Aperio Group LLC increased its position in shares of Emergent Biosolutions by 25.7% in the first quarter. Aperio Group LLC now owns 10,542 shares of the biopharmaceutical company’s stock worth $383,000 after buying an additional 2,154 shares in the last quarter. Virginia Retirement System purchased a new position in shares of Emergent Biosolutions during the first quarter worth about $1,218,000. Teachers Advisors Inc. increased its position in shares of Emergent Biosolutions by 514.9% in the first quarter. Teachers Advisors Inc. now owns 267,195 shares of the biopharmaceutical company’s stock worth $9,713,000 after buying an additional 223,745 shares in the last quarter. BlackRock Group LTD increased its position in shares of Emergent Biosolutions by 19.9% in the first quarter. BlackRock Group LTD now owns 55,511 shares of the biopharmaceutical company’s stock worth $2,019,000 after buying an additional 9,213 shares in the last quarter. Finally, Columbia Partners L L C Investment Management purchased a new position in shares of Emergent Biosolutions during the first quarter worth about $2,621,000. Institutional investors own 89.95% of the company’s stock.
About Emergent Biosolutions
Emergent BioSolutions Inc is a biopharmaceutical company that offers specialized products to healthcare providers and governments to address medical needs and emerging health threats. The Company develops, manufactures and delivers a portfolio of medical countermeasures primarily for government agencies in the areas of biological and chemical threats and emerging infectious diseases (EID).
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