Cambrex Corp. (CBM) Hits New 52-Week High at $56.64
Cambrex Corp. (NYSE:CBM)’s share price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $56.64 and last traded at $56.35, with a volume of 135,358 shares trading hands. The stock had previously closed at $55.01.
Separately, Zacks Investment Research downgraded Cambrex Corp. from a “buy” rating to a “hold” rating in a report on Wednesday, June 29th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $58.20.
The firm has a 50 day moving average of $50.46 and a 200 day moving average of $44.22. The firm has a market capitalization of $1.82 billion and a price-to-earnings ratio of 29.2165.
Cambrex Corp. (NYSE:CBM) last posted its earnings results on Friday, April 29th. The company reported $0.50 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.34 by $0.16. During the same period in the previous year, the company posted $0.29 EPS. The firm had revenue of $94.74 million for the quarter, compared to analyst estimates of $83.61 million. Cambrex Corp.’s revenue was up 22.2% on a year-over-year basis. On average, analysts forecast that Cambrex Corp. will post $2.56 EPS for the current year.
In related news, Director William B. Korb sold 3,420 shares of the stock in a transaction dated Monday, July 11th. The stock was sold at an average price of $55.00, for a total transaction of $188,100.00. Following the transaction, the director now owns 23,982 shares of the company’s stock, valued at approximately $1,319,010. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director William B. Korb sold 8,000 shares of the company’s stock in a transaction dated Tuesday, May 3rd. The stock was sold at an average price of $49.09, for a total value of $392,720.00. Following the sale, the director now owns 32,562 shares in the company, valued at approximately $1,598,468.58. The disclosure for this sale can be found here.
A number of large investors recently modified their holdings of CBM. Pear Tree Advisors Inc. bought a new stake in shares of Cambrex Corp. during the fourth quarter valued at $1,008,000. GSA Capital Partners LLP raised its stake in Cambrex Corp. by 33.2% in the fourth quarter. GSA Capital Partners LLP now owns 26,475 shares of the company’s stock worth $1,247,000 after buying an additional 6,592 shares during the last quarter. Stevens Capital Management LP raised its stake in Cambrex Corp. by 79.0% in the fourth quarter. Stevens Capital Management LP now owns 28,241 shares of the company’s stock worth $1,330,000 after buying an additional 12,460 shares during the last quarter. Bank of Montreal Can raised its stake in Cambrex Corp. by 31.1% in the fourth quarter. Bank of Montreal Can now owns 31,339 shares of the company’s stock worth $1,476,000 after buying an additional 7,431 shares during the last quarter. Finally, Penserra Capital Management LLC purchased a new stake in Cambrex Corp. during the fourth quarter worth $2,080,000.
Cambrex Corporation (Cambrex) is a life sciences company. The Company provides products and services for the development and commercialization of new and generic therapeutics. The Company supplies its products and services across the world to generic pharmaceutical companies. Cambrex operates through three segments, which are manufacturing facilities.
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