Cambrex Corp. (CBM) Reaches New 1-Year High at $56.64
Cambrex Corp. (NYSE:CBM)’s share price hit a new 52-week high during 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 upgraded Cambrex Corp. from a “hold” rating to a “strong-buy” rating and set a $56.00 price target on the stock in a report on Wednesday, May 4th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $58.20.
The company has a market cap of $1.83 billion and a P/E ratio of 29.33. The company’s 50-day moving average is $50.96 and its 200 day moving average is $44.41.
Cambrex Corp. (NYSE:CBM) last released its earnings results on Friday, April 29th. The company reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.16. During the same quarter in the previous year, the company posted $0.29 earnings per share. The company had revenue of $94.74 million for the quarter, compared to the consensus estimate of $83.61 million. The business’s revenue was up 22.2% compared to the same quarter last year. Analysts forecast that Cambrex Corp. will post $2.56 EPS for the current year.
In other news, CEO Steven M. Klosk sold 16,430 shares of the company’s stock in a transaction on Thursday, May 5th. The stock was sold at an average price of $49.13, for a total transaction of $807,205.90. Following the completion of the sale, the chief executive officer now directly owns 136,828 shares in the company, valued at approximately $6,722,359.64. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director William B. Korb sold 3,420 shares of the company’s stock in a transaction on Monday, July 11th. The shares were sold at an average price of $55.00, for a total value of $188,100.00. Following the sale, the director now owns 23,982 shares of the company’s stock, valued at $1,319,010. The disclosure for this sale can be found here.
Other hedge funds recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its stake in Cambrex Corp. by 3.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,589,449 shares of the company’s stock worth $74,848,000 after buying an additional 47,279 shares during the last quarter. Redwood Investments LLC increased its stake in Cambrex Corp. by 28.9% in the fourth quarter. Redwood Investments LLC now owns 45,791 shares of the company’s stock worth $2,156,000 after buying an additional 10,259 shares during the last quarter. Century Capital Management LLC increased its stake in Cambrex Corp. by 13.5% in the fourth quarter. Century Capital Management LLC now owns 353,591 shares of the company’s stock worth $16,651,000 after buying an additional 42,189 shares during the last quarter. Victory Capital Management Inc. increased its stake in Cambrex Corp. by 13,241.1% in the fourth quarter. Victory Capital Management Inc. now owns 142,483 shares of the company’s stock worth $6,710,000 after buying an additional 141,415 shares during the last quarter. Finally, Turner Investments L.P. bought a new stake in Cambrex Corp. during the fourth quarter worth $2,119,000.
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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