Emergent Biosolutions Inc. (EBS) Shares Down 8.3%
Emergent Biosolutions Inc. (NYSE:EBS)’s share price fell 8.3% during trading on Monday . The company traded as low as $30.28 and last traded at $30.62, with a volume of 369,111 shares trading hands. The stock had previously closed at $33.39.
A number of brokerages recently commented on EBS. Singular Research decreased their target price on Emergent Biosolutions from $44.00 to $40.00 and set a “buy” rating for the company in a report on Tuesday, June 28th. Cowen and Company cut Emergent Biosolutions from an “outperform” rating to a “market perform” rating in a research note on Wednesday, June 22nd. Zacks Investment Research cut Emergent Biosolutions from a “hold” rating to a “sell” rating in a research note on Tuesday, July 12th. Chardan Capital started coverage on Emergent Biosolutions in a research note on Friday, April 15th. They issued a “buy” rating and a $47.00 price target on the stock. Finally, Wells Fargo & Co. reaffirmed a “buy” rating on shares of Emergent Biosolutions in a research note on Wednesday, June 22nd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $42.75.
The stock has a market cap of $1.22 billion and a P/E ratio of 16.30. The firm has a 50 day moving average of $32.34 and a 200 day moving average of $36.42.
Emergent Biosolutions (NYSE:EBS) last announced its earnings results on Thursday, May 5th. The biopharmaceutical company reported $0.16 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.07) by $0.23. The business had revenue of $111 million for the quarter, compared to analysts’ expectations of $101.83 million. The firm’s quarterly revenue was up 74.5% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.50) earnings per share. Equities analysts predict that Emergent Biosolutions Inc. will post $1.45 EPS for the current year.
In other Emergent Biosolutions news, CEO Daniel Abdun-Nabi sold 8,701 shares of the business’s stock in a transaction dated Friday, May 20th. The stock was sold at an average price of $42.00, for a total transaction of $365,442.00. Following the sale, the chief executive officer now owns 179,665 shares in the company, valued at approximately $7,545,930. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Jerome M. Hauer sold 4,700 shares of the business’s stock in a transaction dated Thursday, May 12th. The shares were sold at an average price of $38.50, for a total value of $180,950.00. Following the sale, the director now owns 18,800 shares in the company, valued at approximately $723,800. The disclosure for this sale can be found here.
Other hedge funds have recently bought and sold shares of the company. Dimensional Fund Advisors LP increased its stake in Emergent Biosolutions by 6.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,911,645 shares of the biopharmaceutical company’s stock valued at $76,485,000 after buying an additional 112,452 shares during the last quarter. Matarin Capital Management LLC purchased a new stake in Emergent Biosolutions during the fourth quarter valued at $7,953,000. US Bancorp DE increased its stake in Emergent Biosolutions by 6.9% in the fourth quarter. US Bancorp DE now owns 33,169 shares of the biopharmaceutical company’s stock valued at $1,327,000 after buying an additional 2,152 shares during the last quarter. Deere & Co. increased its stake in Emergent Biosolutions by 1.7% in the fourth quarter. Deere & Co. now owns 52,200 shares of the biopharmaceutical company’s stock valued at $2,089,000 after buying an additional 888 shares during the last quarter. Finally, Aberdeen Asset Management PLC UK increased its stake in Emergent Biosolutions by 25.2% in the fourth quarter. Aberdeen Asset Management PLC UK now owns 342,726 shares of the biopharmaceutical company’s stock valued at $10,304,000 after buying an additional 69,026 shares during the last quarter.
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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