Emergent Biosolutions Inc. (EBS) Shares Down 2.6%
Emergent Biosolutions Inc. (NYSE:EBS) shares fell 2.6% during trading on Tuesday . The company traded as low as $26.63 and last traded at $26.71, with a volume of 258,870 shares changing hands. The stock had previously closed at $27.42.
EBS has been the subject of several research reports. Cowen and Company lowered Emergent Biosolutions from an “outperform” rating to a “market perform” rating in a research report on Wednesday, June 22nd. Zacks Investment Research lowered Emergent Biosolutions from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 2nd. Chardan Capital reissued a “buy” rating on shares of Emergent Biosolutions in a research report on Monday, May 2nd. Wells Fargo & Co. reissued a “buy” rating on shares of Emergent Biosolutions in a research report on Wednesday, June 22nd. Finally, JPMorgan Chase & Co. decreased their target price on Emergent Biosolutions from $45.00 to $36.00 and set an “overweight” rating for the company in a research report on Friday, August 5th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $40.00.
The company has a market cap of $1.07 billion and a P/E ratio of 19.00. The firm has a 50 day moving average of $30.25 and a 200-day moving average of $36.00.
Emergent Biosolutions (NYSE:EBS) last released its quarterly earnings results on Thursday, August 4th. The biopharmaceutical company reported ($0.18) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.17) by $0.01. During the same period in the prior year, the company posted $0.36 EPS. The company earned $101.49 million during the quarter, compared to the consensus estimate of $111.20 million. The company’s quarterly revenue was down 19.5% compared to the same quarter last year. Analysts forecast that Emergent Biosolutions Inc. will post $1.01 earnings per share for the current fiscal year.
In related news, Director Jerome M. Hauer sold 3,134 shares of Emergent Biosolutions stock in a transaction dated Thursday, May 19th. The stock was sold at an average price of $41.22, for a total value of $129,183.48. Following the completion of the transaction, the director now owns 20,085 shares in the company, valued at $827,903.70. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director George A. Joulwan sold 4,700 shares of Emergent Biosolutions stock in a transaction dated Monday, June 6th. The stock was sold at an average price of $44.12, for a total value of $207,364.00. Following the completion of the transaction, the director now owns 20,785 shares of the company’s stock, valued at approximately $917,034.20. The disclosure for this sale can be found here.
Other hedge funds and institutional investors have made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Emergent Biosolutions by 24.4% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 50,400 shares of the biopharmaceutical company’s stock valued at $2,017,000 after buying an additional 9,900 shares during the period. Dimensional Fund Advisors LP raised its position 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 valued at $76,485,000 after buying an additional 112,452 shares during the period. Matarin Capital Management LLC acquired a new position in shares of Emergent Biosolutions during the fourth quarter valued at about $7,953,000. US Bancorp DE raised its position in shares of 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 period. Finally, Bank of Montreal Can raised its position 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 valued at $3,725,000 after buying an additional 72,266 shares during the period.
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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