Cambrex Corp. (CBM) Sees Unusually-High Trading Volume
Cambrex Corp. (NYSE:CBM) saw an uptick in trading volume on Tuesday . 464,034 shares changed hands during trading, an increase of 11% from the previous session’s volume of 418,463 shares.The stock last traded at $44.62 and had previously closed at $44.30.
Separately, Zacks Investment Research upgraded Cambrex Corp. from a “hold” rating to a “strong-buy” rating and set a $56.00 price target on the stock in a report on Wednesday, May 4th.
The company’s 50-day moving average price is $51.37 and its 200-day moving average price is $46.63. The firm has a market cap of $1.43 billion and a price-to-earnings ratio of 22.49.
Cambrex Corp. (NYSE:CBM) last announced its quarterly earnings data on Thursday, July 28th. The company reported $0.68 EPS for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.09. The business earned $118.22 million during the quarter, compared to analysts’ expectations of $114.85 million. During the same period in the prior year, the firm earned $0.63 EPS. Cambrex Corp.’s revenue for the quarter was up 10.9% on a year-over-year basis. Analysts forecast that Cambrex Corp. will post $2.56 earnings per share for the current year.
In other news, Director William B. Korb sold 4,142 shares of Cambrex Corp. stock in a transaction on Wednesday, June 8th. The stock was sold at an average price of $52.47, for a total value of $217,330.74. Following the completion of the sale, the director now owns 24,704 shares of the company’s stock, valued at $1,296,218.88. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director William B. Korb sold 3,420 shares of Cambrex Corp. stock in a transaction on Monday, July 11th. The shares were sold at an average price of $55.00, for a total value of $188,100.00. Following the completion of the transaction, the director now owns 23,982 shares in the company, valued at approximately $1,319,010. The disclosure for this sale can be found here.
Other hedge funds and institutional investors have recently modified their holdings of the company. Bank of Montreal Can boosted its position in shares of Cambrex Corp. by 31.1% in the fourth quarter. Bank of Montreal Can now owns 31,339 shares of the company’s stock worth $1,476,000 after buying an additional 7,431 shares during the last quarter. Morgan Stanley boosted its position in shares of Cambrex Corp. by 27.9% in the fourth quarter. Morgan Stanley now owns 323,861 shares of the company’s stock worth $15,250,000 after buying an additional 70,585 shares in the last quarter. Finally, King Luther Capital Management Corp boosted its position in shares of Cambrex Corp. by 148.7% in the fourth quarter. King Luther Capital Management Corp now owns 333,130 shares of the company’s stock worth $15,687,000 after buying an additional 199,165 shares in the last quarter.
Cambrex Corporation (Cambrex) is a life sciences company. The Company provides products and services for the development and commercialization of new and generic therapeutics. The Company supplies its products and services across the world to generic pharmaceutical companies. Cambrex operates through three segments, which are manufacturing facilities.
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