Cambrex Corp. (CBM) Trading Down 1.5%
Cambrex Corp. (NYSE:CBM) dropped 1.5% during trading on Monday . The stock traded as low as $42.98 and last traded at $43.36, with a volume of 437,453 shares traded. The stock had previously closed at $44.02.
Separately, Zacks Investment Research lowered shares of Cambrex Corp. from a “buy” rating to a “hold” rating in a research report on Wednesday, June 29th.
The company has a 50 day moving average of $50.64 and a 200 day moving average of $46.67. The company has a market cap of $1.39 billion and a P/E ratio of 21.85.
Cambrex Corp. (NYSE:CBM) last posted its quarterly earnings results on Thursday, July 28th. The company reported $0.68 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.09. During the same period in the prior year, the company posted $0.63 earnings per share. The firm had revenue of $118.22 million for the quarter, compared to analyst estimates of $114.85 million. The business’s revenue was up 10.9% on a year-over-year basis. Equities research analysts predict that Cambrex Corp. will post $2.56 earnings per share for the current fiscal year.
In related news, Director William B. Korb sold 4,142 shares of the company’s stock in a transaction that occurred on Wednesday, June 8th. The stock was sold at an average price of $52.47, for a total transaction of $217,330.74. Following the sale, the director now directly owns 24,704 shares of the company’s stock, valued at approximately $1,296,218.88. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director William B. Korb sold 3,420 shares of the company’s stock in a transaction that occurred 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 sale, the director now directly owns 23,982 shares in the company, valued at $1,319,010. The disclosure for this sale can be found here.
A hedge fund recently raised its stake in Cambrex Corp. stock. Morgan Stanley boosted its stake in shares of Cambrex Corp. (NYSE:CBM) by 27.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 323,861 shares of the company’s stock after buying an additional 70,585 shares during the period. Morgan Stanley owned approximately 1.03% of Cambrex Corp. worth $15,250,000 at the end of the most recent 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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