Emergent Biosolutions Inc. (EBS) Sees Unusually-High Trading Volume
Emergent Biosolutions Inc. (NYSE:EBS) shares saw unusually-high trading volume on Friday . Approximately 883,627 shares changed hands during mid-day trading, an increase of 38% from the previous session’s volume of 641,518 shares.The stock last traded at $30.02 and had previously closed at $30.69.
EBS has been the subject of a number of recent research reports. Cowen and Company downgraded Emergent Biosolutions from an “outperform” rating to a “market perform” rating in a research note on Wednesday, June 22nd. Singular Research cut their target price on Emergent Biosolutions from $44.00 to $40.00 and set a “buy” rating for the company in a research note on Tuesday, June 28th. Chardan Capital initiated coverage on Emergent Biosolutions in a research note on Friday, April 15th. They issued a “buy” rating and a $47.00 target price for the company. Wells Fargo & Co. reaffirmed a “buy” rating on shares of Emergent Biosolutions in a research note on Wednesday, June 22nd. Finally, Zacks Investment Research downgraded Emergent Biosolutions from a “hold” rating to a “sell” rating in a research note on Tuesday, June 28th. One research 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 company presently has a consensus rating of “Buy” and an average price target of $41.40.
The firm has a market capitalization of $1.19 billion and a price-to-earnings ratio of 15.92. The firm has a 50-day moving average price of $31.40 and a 200-day moving average price of $36.29.
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 Thomson Reuters’ consensus estimate of ($0.17) by $0.01. The business earned $101.49 million during the quarter, compared to analysts’ expectations of $111.20 million. During the same quarter in the prior year, the firm earned $0.36 EPS. The firm’s quarterly revenue was down 19.5% compared to the same quarter last year. On average, equities analysts predict that Emergent Biosolutions Inc. will post $1.44 earnings per share for the current year.
In other news, Director Jerome M. Hauer sold 3,134 shares of the stock in a transaction that occurred on Thursday, May 19th. The stock was sold at an average price of $41.22, for a total transaction of $129,183.48. Following the sale, the director now directly owns 20,085 shares in the company, valued at approximately $827,903.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Louis W. Sullivan sold 9,969 shares of the stock in a transaction that occurred on Wednesday, May 11th. The stock was sold at an average price of $39.25, for a total value of $391,283.25. Following the sale, the director now owns 38,469 shares in the company, valued at $1,509,908.25. The disclosure for this sale can be found here.
Other hedge funds recently made changes to their positions in the company. Eagle Asset Management boosted its stake in shares of Emergent Biosolutions by 143.9% in the third quarter. Eagle Asset Management now owns 1,245,128 shares of the biopharmaceutical company’s stock worth $35,472,000 after buying an additional 734,578 shares during the last quarter. Matarin Capital Management LLC bought a new stake in shares of Emergent Biosolutions during the fourth quarter worth $7,953,000. Dimensional Fund Advisors LP boosted its stake in shares of 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 worth $76,485,000 after buying an additional 112,452 shares during the last quarter. Bank of Montreal Can boosted its stake in shares of Emergent Biosolutions by 346.9% in the fourth quarter. Bank of Montreal Can now owns 93,100 shares of the biopharmaceutical company’s stock worth $3,725,000 after buying an additional 72,266 shares during the last quarter. Finally, Aberdeen Asset Management PLC UK boosted its stake in shares of 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 worth $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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