China Biologic Products (NASDAQ:CBPO) Reaches New 12-Month High After Earnings Beat
China Biologic Products Holdings Inc (NASDAQ:CBPO)’s stock price reached a new 52-week high during mid-day trading on Wednesday after the company announced better than expected quarterly earnings. The stock traded as high as $117.14 and last traded at $117.10, with a volume of 1656 shares changing hands. The stock had previously closed at $115.30.
The biopharmaceutical company reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.52. China Biologic Products had a net margin of 29.46% and a return on equity of 8.56%. The company had revenue of $136.10 million during the quarter. During the same period last year, the business earned $0.96 earnings per share. The company’s revenue was up 14.3% on a year-over-year basis.
A number of brokerages recently issued reports on CBPO. BidaskClub cut shares of China Biologic Products from a “buy” rating to a “hold” rating in a research report on Tuesday, October 29th. ValuEngine raised shares of China Biologic Products from a “hold” rating to a “buy” rating in a research report on Tuesday, October 1st. Finally, Zacks Investment Research cut shares of China Biologic Products from a “buy” rating to a “hold” rating in a research report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. China Biologic Products currently has an average rating of “Hold” and a consensus price target of $92.67.
The firm has a market capitalization of $4.55 billion, a PE ratio of 29.03, a PEG ratio of 7.02 and a beta of 1.18. The firm’s fifty day simple moving average is $115.06 and its 200-day simple moving average is $100.90.
About China Biologic Products (NASDAQ:CBPO)
China Biologic Products Holdings, Inc engages in the research, development, manufacture, and sale of human plasma-based biopharmaceutical products to hospitals and inoculation centers in the People's Republic of China. It offers human albumin for treating shock caused by blood loss trauma or burn; raised intracranial pressure caused by hydrocephalus or trauma; oedema or ascites caused by hepatocirrhosis and nephropathy; and neonatal hyperbilirubinemia, as well as for the prevention and treatment of low-density-lipoproteinemia.
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