Emergent Biosolutions Inc (NYSE:EBS) Cut to “Hold” at Zacks Investment Research
Emergent Biosolutions Inc (NYSE:EBS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Friday.
According to Zacks, “Emergent reported lower-than-expected earnings in the second-quarter of 2017, with revenue missing estimates. The company’s follow-on contract with the CDC and deals with the BARDA for BioThrax and NuThrax (the next-generation anthrax vaccine candidate) bodes well for growth. NuThrax’s approval will be a huge boost for the company. We are also positive on Emergent’s spin-off of its biosciences business into a separate publicly traded company as it is expected to result in a reduced cost structure. On the flip side, the company’s sole dependence on BioThrax for its revenue is concerning. Meanwhile, Emergent faces competition from a number of companies with Biodefense products. Shares of the company have underperformed the broader industry so far this year. However, the U.S. government is the primary purchaser of BioThrax which is a big boost to the company.”
Separately, BidaskClub raised Emergent Biosolutions from a “hold” rating to a “buy” rating in a research report on Saturday, June 24th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $44.00.
Emergent Biosolutions (NYSE EBS) traded up 0.85% on Friday, reaching $34.43. The company had a trading volume of 99,266 shares. Emergent Biosolutions has a 12 month low of $24.47 and a 12 month high of $36.95. The company’s 50 day moving average price is $34.84 and its 200-day moving average price is $31.47. The company has a market capitalization of $1.42 billion, a price-to-earnings ratio of 21.93 and a beta of 1.22.
Emergent Biosolutions (NYSE:EBS) last announced its earnings results on Thursday, August 3rd. The biopharmaceutical company reported $0.13 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.26 by $0.13. The company had revenue of $100.77 million for the quarter, compared to analyst estimates of $111.57 million. Emergent Biosolutions had a return on equity of 3.01% and a net margin of 4.58%. The firm’s quarterly revenue was up 10.4% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.05) earnings per share. On average, equities analysts predict that Emergent Biosolutions will post $1.55 earnings per share for the current fiscal year.
In other news, Chairman Fuad El-Hibri sold 25,000 shares of Emergent Biosolutions stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $36.50, for a total value of $912,500.00. Following the completion of the transaction, the chairman now directly owns 1,630,216 shares of the company’s stock, valued at approximately $59,502,884. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 16.50% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Norges Bank acquired a new position in Emergent Biosolutions during the fourth quarter valued at $12,364,000. Aberdeen Asset Management PLC UK raised its position in Emergent Biosolutions by 29.6% in the first quarter. Aberdeen Asset Management PLC UK now owns 1,618,576 shares of the biopharmaceutical company’s stock valued at $47,003,000 after buying an additional 369,908 shares during the period. Vanguard Group Inc. raised its position in Emergent Biosolutions by 6.7% in the first quarter. Vanguard Group Inc. now owns 3,773,200 shares of the biopharmaceutical company’s stock valued at $109,574,000 after buying an additional 238,194 shares during the period. State Street Corp raised its position in Emergent Biosolutions by 17.2% in the first quarter. State Street Corp now owns 1,452,472 shares of the biopharmaceutical company’s stock valued at $42,180,000 after buying an additional 213,500 shares during the period. Finally, Snyder Capital Management L P raised its position in Emergent Biosolutions by 17.8% in the first quarter. Snyder Capital Management L P now owns 1,134,332 shares of the biopharmaceutical company’s stock valued at $32,941,000 after buying an additional 171,636 shares during the period. 85.48% of the stock is owned by hedge funds and other institutional investors.
About Emergent Biosolutions
Emergent BioSolutions Inc is a life sciences company. The Company focuses on protecting and enhancing life by providing specialty products for civilian and military populations that address accidental, intentional and naturally emerging public health threats. It focuses on developing, manufacturing and commercializing medical countermeasures that address public health threats (PHTs).
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