PineBridge Investments L.P. Purchases 202 Shares of Emergent Biosolutions Inc. (EBS)
PineBridge Investments L.P. boosted its position in Emergent Biosolutions Inc. (NYSE:EBS) by 5.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,964 shares of the biopharmaceutical company’s stock after buying an additional 202 shares during the period. PineBridge Investments L.P.’s holdings in Emergent Biosolutions were worth $112,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the company. Teacher Retirement System of Texas increased its position in shares of Emergent Biosolutions by 22.5% in the second quarter. Teacher Retirement System of Texas now owns 4,707 shares of the biopharmaceutical company’s stock worth $132,000 after buying an additional 866 shares during the period. Legal & General Group Plc increased its position in shares of Emergent Biosolutions by 6.3% in the first quarter. Legal & General Group Plc now owns 4,498 shares of the biopharmaceutical company’s stock worth $162,000 after buying an additional 265 shares during the period. Springbok Capital Management LLC acquired a new position in shares of Emergent Biosolutions during the first quarter worth about $192,000. Adams Diversified Equity Fund Inc. acquired a new position in shares of Emergent Biosolutions during the second quarter worth about $202,000. Finally, Natixis acquired a new position in shares of Emergent Biosolutions during the first quarter worth about $205,000. Hedge funds and other institutional investors own 89.95% of the company’s stock.
Shares of Emergent Biosolutions Inc. (NYSE:EBS) opened at 32.23 on Thursday. The firm has a market capitalization of $1.30 billion, a P/E ratio of 23.05 and a beta of 1.12. The stock has a 50 day moving average price of $28.05 and a 200 day moving average price of $34.09. Emergent Biosolutions Inc. has a 12-month low of $26.12 and a 12-month high of $44.38.
Emergent Biosolutions (NYSE:EBS) last released its quarterly earnings data on Thursday, August 4th. The biopharmaceutical company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of ($0.17) by $0.01. The firm earned $101.49 million during the quarter, compared to analyst estimates of $111.20 million. Emergent Biosolutions had a net margin of 11.61% and a return on equity of 11.93%. The business’s revenue for the quarter was down 19.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.36 earnings per share. Equities analysts anticipate that Emergent Biosolutions Inc. will post $1.03 earnings per share for the current fiscal year.
A number of brokerages recently issued reports on EBS. Zacks Investment Research downgraded Emergent Biosolutions from a “hold” rating to a “strong sell” rating in a report on Wednesday. Wells Fargo & Co. set a $41.00 price target on Emergent Biosolutions and gave the company a “buy” rating in a report on Saturday, October 1st. Cowen and Company reaffirmed a “hold” rating and issued a $33.00 price target on shares of Emergent Biosolutions in a report on Sunday, August 7th. Singular Research lowered their price target on Emergent Biosolutions from $44.00 to $40.00 and set a “buy” rating for the company in a report on Tuesday, June 28th. Finally, JPMorgan Chase & Co. lowered their price target on Emergent Biosolutions from $45.00 to $36.00 and set an “overweight” rating for the company in a report on Friday, August 5th. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $40.17.
Emergent Biosolutions Company Profile
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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