Emergent Biosolutions Inc. (EBS) Shares Down 2.6%
Shares of Emergent Biosolutions Inc. (NYSE:EBS) dropped 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 traded. The stock had previously closed at $27.42.
EBS has been the subject of a number of research reports. Cowen and Company cut Emergent Biosolutions from an “outperform” rating to a “market perform” rating in a research report on Wednesday, June 22nd. JPMorgan Chase & Co. reduced their price objective on Emergent Biosolutions from $45.00 to $36.00 and set an “overweight” rating for the company in a research note on Friday, August 5th. Singular Research reduced their price objective 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. Wells Fargo & Co. reiterated a “buy” rating on shares of Emergent Biosolutions in a research note on Wednesday, June 22nd. Finally, Zacks Investment Research lowered 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 assigned a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $40.00.
The firm has a market capitalization of $1.11 billion and a PE ratio of 19.54. The firm’s 50-day moving average is $30.19 and its 200 day moving average is $35.86.
Emergent Biosolutions (NYSE:EBS) last posted its earnings results on Thursday, August 4th. The biopharmaceutical company reported ($0.18) EPS for the quarter, missing the consensus estimate of ($0.17) by $0.01. The company earned $101.49 million during the quarter, compared to analysts’ expectations of $111.20 million. During the same quarter in the previous year, the business earned $0.36 earnings per share. Emergent Biosolutions’s revenue was down 19.5% compared to the same quarter last year. Equities research analysts forecast that Emergent Biosolutions Inc. will post $1.03 earnings per share for the current year.
In related news, Director George A. Joulwan sold 4,700 shares of the stock in a transaction on Monday, June 6th. The stock was sold at an average price of $44.12, for a total value of $207,364.00. Following the transaction, the director now owns 20,785 shares of the company’s stock, valued at $917,034.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Daniel Abdun-Nabi sold 8,701 shares of the stock in a transaction on Friday, May 20th. The shares were sold at an average price of $42.00, for a total value of $365,442.00. Following the completion of the transaction, the chief executive officer now directly owns 179,665 shares in the company, valued at approximately $7,545,930. The disclosure for this sale can be found here.
A number of institutional investors have bought and sold shares of EBS. Rhumbline Advisers raised its position in Emergent Biosolutions by 6.4% in the fourth quarter. Rhumbline Advisers now owns 41,899 shares of the biopharmaceutical company’s stock valued at $1,676,000 after buying an additional 2,505 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its position in 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 in the last quarter. Matarin Capital Management LLC bought a new position in Emergent Biosolutions during the fourth quarter valued at about $7,953,000. Cornerstone Capital Management Holdings LLC. increased its position in Emergent Biosolutions by 5.9% in the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 57,927 shares of the biopharmaceutical company’s stock valued at $2,317,000 after buying an additional 3,227 shares in the last quarter. Finally, US Bancorp DE increased its position 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 in 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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