Emergent Biosolutions (EBS) Rating Reiterated by Zacks Investment Research
Emergent Biosolutions (NYSE:EBS)‘s stock had its “hold” rating reiterated by Zacks Investment Research in a research note issued to investors on Tuesday.
According to Zacks, “Emergent BioSolutions recorded high sales for both anthrax vaccine BioThrax as well as smallpox vaccine ACAM2000. The increase in BioThrax sales was primarily owing to the favorable timing of BioThrax deliveries to the SNS. We are positive on Emergent’s spin-off of its biosciences business into a separate publicly traded company as it resulted in reduction of the company’s cost structure. Shares have outperformed the broader industry so far this year. Notably, the company derives majority of its revenues from BioThrax sales. Hence, its sole dependence on BioThrax for revenues is a headwind. Moreover, Emergent depends on certain single-source suppliers for key materials and services, which are necessary for manufacturg BioThrax. This in turn, also raises a concern.”
Other analysts have also issued reports about the stock. Cantor Fitzgerald set a $68.00 price target on shares of Emergent Biosolutions and gave the company a “buy” rating in a research report on Tuesday, September 11th. Wells Fargo & Co set a $65.00 price target on shares of Emergent Biosolutions and gave the company a “hold” rating in a research report on Wednesday, August 29th. Argus increased their price target on shares of Emergent Biosolutions to $70.00 and gave the company an “average” rating in a research report on Tuesday, September 11th. They noted that the move was a valuation call. Goldman Sachs Group raised shares of Emergent Biosolutions from a “neutral” rating to a “buy” rating and increased their price target for the company from $60.00 to $75.00 in a research report on Friday, November 2nd. Finally, Cowen reissued a “hold” rating and set a $49.00 price target on shares of Emergent Biosolutions in a research report on Wednesday, August 29th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Emergent Biosolutions has a consensus rating of “Buy” and an average price target of $66.25.
Emergent Biosolutions (NYSE:EBS) last issued its earnings results on Thursday, November 1st. The biopharmaceutical company reported $0.55 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.62 by ($0.07). Emergent Biosolutions had a return on equity of 12.89% and a net margin of 14.19%. The business had revenue of $173.70 million for the quarter, compared to the consensus estimate of $185.16 million. During the same quarter in the previous year, the company earned $0.73 earnings per share. The firm’s revenue was up 16.3% on a year-over-year basis. As a group, equities research analysts forecast that Emergent Biosolutions will post 2.2 earnings per share for the current fiscal year.
In related news, CEO Daniel Abdun-Nabi sold 90,776 shares of the stock in a transaction that occurred on Wednesday, September 5th. The shares were sold at an average price of $60.18, for a total value of $5,462,899.68. Following the completion of the transaction, the chief executive officer now directly owns 257,343 shares of the company’s stock, valued at approximately $15,486,901.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ronald Richard sold 7,893 shares of the stock in a transaction that occurred on Tuesday, August 21st. The shares were sold at an average price of $60.02, for a total transaction of $473,737.86. Following the completion of the transaction, the director now directly owns 21,063 shares of the company’s stock, valued at $1,264,201.26. The disclosure for this sale can be found here. Over the last three months, insiders have sold 163,625 shares of company stock valued at $10,082,146. Insiders own 13.40% of the company’s stock.
Several institutional investors have recently made changes to their positions in EBS. Principal Financial Group Inc. raised its position in shares of Emergent Biosolutions by 2.6% in the 1st quarter. Principal Financial Group Inc. now owns 292,075 shares of the biopharmaceutical company’s stock valued at $15,377,000 after purchasing an additional 7,367 shares during the last quarter. Allianz Asset Management GmbH raised its position in shares of Emergent Biosolutions by 60.9% in the 1st quarter. Allianz Asset Management GmbH now owns 112,858 shares of the biopharmaceutical company’s stock valued at $5,942,000 after purchasing an additional 42,728 shares during the last quarter. Xact Kapitalforvaltning AB raised its position in shares of Emergent Biosolutions by 43.0% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 9,309 shares of the biopharmaceutical company’s stock valued at $470,000 after purchasing an additional 2,800 shares during the last quarter. Amalgamated Bank raised its position in shares of Emergent Biosolutions by 48.6% in the 2nd quarter. Amalgamated Bank now owns 7,143 shares of the biopharmaceutical company’s stock valued at $361,000 after purchasing an additional 2,335 shares during the last quarter. Finally, Hartford Investment Management Co. purchased a new position in shares of Emergent Biosolutions in the 2nd quarter valued at approximately $309,000. 80.76% of the stock is owned by hedge funds and other institutional investors.
Emergent Biosolutions Company Profile
Emergent BioSolutions Inc focuses on the development, manufacture, and commercialization of medical countermeasures that address public health threats. Its products address public health threats primarily chemical, biological, radiological, nuclear, and explosive-related threats, as well as infectious diseases.
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