Cambrex Corporation (CBM) Lifted to Hold at Zacks Investment Research
Cambrex Corporation (NYSE:CBM) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Thursday.
According to Zacks, “Cambrex Corporation manufactures and markets a broad line of specialty chemicals and commodity chemical intermediates and also manufactures chemicals to customer specifications. There are five product categories: pharmaceutical bulk actives; pharmaceutical intermediates; organic intermediates; performance enhancers; and polymer systems. “
A number of other equities research analysts have also issued reports on CBM. Stephens set a $61.00 price target on Cambrex Corporation and gave the company a “buy” rating in a research report on Monday, February 6th. Craig Hallum set a $70.00 price target on Cambrex Corporation and gave the company a “buy” rating in a research report on Monday, February 6th. Finally, First Analysis increased their price target on Cambrex Corporation from $54.00 to $66.00 and gave the company an “overweight” rating in a research report on Tuesday, January 17th.
Shares of Cambrex Corporation (NYSE:CBM) traded up 2.94% during midday trading on Thursday, hitting $54.30. The stock had a trading volume of 455,657 shares. Cambrex Corporation has a one year low of $36.95 and a one year high of $62.50. The stock has a market cap of $1.76 billion, a PE ratio of 21.90 and a beta of 1.95. The firm has a 50 day moving average price of $53.95 and a 200 day moving average price of $48.60.
Cambrex Corporation (NYSE:CBM) last announced its earnings results on Friday, February 3rd. The company reported $1.23 EPS for the quarter, beating analysts’ consensus estimates of $1.05 by $0.18. Cambrex Corporation had a return on equity of 24.53% and a net margin of 16.65%. The company earned $178.70 million during the quarter, compared to analysts’ expectations of $174.53 million. During the same period last year, the business posted $1.01 EPS. Cambrex Corporation’s revenue for the quarter was up 13.9% on a year-over-year basis. On average, equities analysts forecast that Cambrex Corporation will post $3.01 earnings per share for the current fiscal year.
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In other Cambrex Corporation news, CEO Steven M. Klosk sold 63,178 shares of the stock in a transaction dated Monday, February 13th. The stock was sold at an average price of $52.55, for a total value of $3,320,003.90. Following the sale, the chief executive officer now owns 109,062 shares of the company’s stock, valued at approximately $5,731,208.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Shawn Cavanagh sold 20,380 shares of the stock in a transaction dated Tuesday, February 7th. The shares were sold at an average price of $55.12, for a total value of $1,123,345.60. Following the completion of the sale, the chief operating officer now directly owns 57,658 shares in the company, valued at approximately $3,178,108.96. The disclosure for this sale can be found here. Insiders sold a total of 143,558 shares of company stock worth $7,697,150 in the last ninety days. 2.63% of the stock is owned by corporate insiders.
A number of large investors have recently bought and sold shares of CBM. Kalmar Investments Inc. DE raised its stake in Cambrex Corporation by 22.5% in the second quarter. Kalmar Investments Inc. DE now owns 176,823 shares of the company’s stock worth $9,147,000 after buying an additional 32,472 shares in the last quarter. Pinnacle Financial Partners Inc. bought a new stake in Cambrex Corporation during the second quarter worth about $256,000. William Blair Investment Management LLC raised its stake in Cambrex Corporation by 2.1% in the second quarter. William Blair Investment Management LLC now owns 1,973,659 shares of the company’s stock worth $102,097,000 after buying an additional 40,447 shares in the last quarter. Argent Capital Management LLC raised its stake in Cambrex Corporation by 11.2% in the second quarter. Argent Capital Management LLC now owns 42,100 shares of the company’s stock worth $2,178,000 after buying an additional 4,250 shares in the last quarter. Finally, Teacher Retirement System of Texas raised its stake in Cambrex Corporation by 13.7% in the second quarter. Teacher Retirement System of Texas now owns 4,413 shares of the company’s stock worth $228,000 after buying an additional 533 shares in the last quarter. 98.23% of the stock is currently owned by institutional investors.
About Cambrex Corporation
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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