Oak Ridge Investments LLC Acquires New Position in Cambrex Co. (CBM)
Oak Ridge Investments LLC acquired a new position in Cambrex Co. (NYSE:CBM) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 149,479 shares of the biotechnology company’s stock, valued at approximately $10,224,000.
Other large investors have also recently made changes to their positions in the company. Janus Henderson Group PLC grew its stake in Cambrex by 14.4% in the second quarter. Janus Henderson Group PLC now owns 475,862 shares of the biotechnology company’s stock worth $24,888,000 after purchasing an additional 60,046 shares in the last quarter. Northpointe Capital LLC bought a new position in Cambrex in the third quarter worth approximately $2,404,000. Summit Creek Advisors LLC grew its stake in Cambrex by 52.7% in the third quarter. Summit Creek Advisors LLC now owns 235,521 shares of the biotechnology company’s stock worth $16,110,000 after purchasing an additional 81,290 shares in the last quarter. Rhumbline Advisers lifted its holdings in Cambrex by 5.5% during the second quarter. Rhumbline Advisers now owns 81,500 shares of the biotechnology company’s stock worth $4,262,000 after buying an additional 4,250 shares during the period. Finally, First Trust Advisors LP purchased a new stake in Cambrex during the second quarter worth $1,346,000.
In other news, CFO Tom George Vadaketh sold 9,510 shares of the stock in a transaction on Monday, August 20th. The stock was sold at an average price of $63.42, for a total transaction of $603,124.20. Following the completion of the sale, the chief financial officer now owns 9,510 shares in the company, valued at approximately $603,124.20. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Steven M. Klosk sold 20,000 shares of the stock in a transaction on Tuesday, October 23rd. The shares were sold at an average price of $54.76, for a total value of $1,095,200.00. Following the sale, the chief executive officer now owns 103,328 shares of the company’s stock, valued at approximately $5,658,241.28. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 84,510 shares of company stock valued at $5,344,824. 2.42% of the stock is owned by company insiders.
Cambrex (NYSE:CBM) last posted its earnings results on Thursday, November 8th. The biotechnology company reported $0.49 earnings per share for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.10). The company had revenue of $104.62 million for the quarter, compared to analysts’ expectations of $122.04 million. Cambrex had a return on equity of 22.20% and a net margin of 22.67%. The firm’s quarterly revenue was down 7.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.55 EPS. Analysts anticipate that Cambrex Co. will post 2.82 earnings per share for the current fiscal year.
A number of research firms have weighed in on CBM. Zacks Investment Research upgraded Cambrex from a “hold” rating to a “strong-buy” rating and set a $73.00 target price for the company in a report on Wednesday, August 8th. First Analysis upgraded Cambrex from an “outperform” rating to a “strong-buy” rating and lowered their target price for the stock from $73.00 to $63.00 in a report on Friday. Finally, Jefferies Financial Group began coverage on Cambrex in a report on Tuesday, September 25th. They set a “buy” rating and a $75.50 target price for the company. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and two have given a strong buy rating to the company’s stock. Cambrex presently has an average rating of “Buy” and an average target price of $70.50.
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Cambrex Company Profile
Cambrex Corporation, a life sciences company, provides various products and services for the development and commercialization of new and generic therapeutics worldwide. Its products comprise active pharmaceutical ingredients and pharmaceutical intermediates that are used in the production of prescription and over-the-counter drug products, as well as other fine chemicals.
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