Emergent Biosolutions Inc. (EBS) Downgraded by Zacks Investment Research to Strong Sell
According to Zacks, “Emergent aims to offer specialized products to health care providers and governments to fulfil unmet medical needs and combat threats posed by serious diseases to human health. The company derives the majority of revenues from sales of its key product BioThrax to its principal purchaser, the U.S. government. Its sole dependence on BioThrax for revenues has its inherent risks and thus remains a concern. Any hiccup in the production of BioThrax could hurt the company’s top line significantly. Moreover, Emergent faces competition from a number of companies with biodefense products or candidates under development for both the U.S. government procurement and development resources. Stiff competition remains a concern as well. However, Emergent has secured a multi-year contract with the BARDA, for the advanced development and delivery of its next generation anthrax vaccine candidate, NuThrax. Its approval will be a huge boost for the company.”
A number of other equities research analysts have also recently issued reports on the stock. Wells Fargo & Co. set a $41.00 price objective on shares of Emergent Biosolutions and gave the company a buy rating in a research note on Saturday, October 1st. Cowen and Company reaffirmed a hold rating and issued a $33.00 price objective on shares of Emergent Biosolutions in a research note on Sunday, August 7th. JPMorgan Chase & Co. cut their price objective on shares of Emergent Biosolutions from $45.00 to $36.00 and set an overweight rating for the company in a research note on Friday, August 5th. Finally, Singular Research dropped their price target on shares of Emergent Biosolutions from $44.00 to $40.00 and set a buy rating for the company in a research report on Tuesday, June 28th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company. The company presently has an average rating of Buy and an average price target of $40.17.
Shares of Emergent Biosolutions (NYSE:EBS) opened at 32.08 on Wednesday. Emergent Biosolutions has a 1-year low of $26.12 and a 1-year high of $44.38. The company has a market capitalization of $1.30 billion, a P/E ratio of 22.95 and a beta of 1.12. The firm has a 50-day moving average of $28.40 and a 200 day moving average of $34.06.
Emergent Biosolutions (NYSE:EBS) last announced its quarterly earnings data on Thursday, August 4th. The biopharmaceutical company reported ($0.18) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.17) by $0.01. Emergent Biosolutions had a net margin of 11.61% and a return on equity of 11.93%. The business earned $101.49 million during the quarter, compared to analysts’ expectations of $111.20 million. During the same period last year, the company posted $0.36 EPS. Emergent Biosolutions’s revenue for the quarter was down 19.5% on a year-over-year basis. On average, equities research analysts expect that Emergent Biosolutions will post $1.03 earnings per share for the current year.
Large investors have recently made changes to their positions in the stock. Raymond James & Associates raised its stake in shares of Emergent Biosolutions by 0.4% in the second quarter. Raymond James & Associates now owns 8,456 shares of the biopharmaceutical company’s stock worth $238,000 after buying an additional 36 shares during the last quarter. New York State Teachers Retirement System raised its stake in shares of Emergent Biosolutions by 0.3% in the second quarter. New York State Teachers Retirement System now owns 36,755 shares of the biopharmaceutical company’s stock worth $1,034,000 after buying an additional 100 shares during the last quarter. Hancock Holding Co. raised its stake in shares of Emergent Biosolutions by 0.5% in the second quarter. Hancock Holding Co. now owns 24,130 shares of the biopharmaceutical company’s stock worth $679,000 after buying an additional 130 shares during the last quarter. Howe & Rusling Inc. raised its stake in shares of Emergent Biosolutions by 3.0% in the second quarter. Howe & Rusling Inc. now owns 4,875 shares of the biopharmaceutical company’s stock worth $137,000 after buying an additional 140 shares during the last quarter. Finally, Louisiana State Employees Retirement System raised its stake in shares of Emergent Biosolutions by 1.5% in the second quarter. Louisiana State Employees Retirement System now owns 13,800 shares of the biopharmaceutical company’s stock worth $388,000 after buying an additional 200 shares during the last quarter. 89.93% of the stock is currently owned by hedge funds and other institutional investors.
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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