Emergent BioSolutions (EBS) Rating Lowered to Market Perform at Wells Fargo
Wells Fargo cut shares of Emergent BioSolutions (NYSE:EBS) from an outperform rating to a market perform rating in a research report sent to investors on Tuesday, MarketBeat.com reports. They currently have $56.00 price target on the biopharmaceutical company’s stock.
Other equities research analysts have also issued research reports about the company. ValuEngine raised Emergent BioSolutions from a hold rating to a buy rating in a research note on Thursday, March 1st. Zacks Investment Research lowered Emergent BioSolutions from a strong-buy rating to a hold rating in a research note on Thursday, January 11th. Chardan Capital upped their target price on Emergent BioSolutions from $47.00 to $53.00 and gave the company a buy rating in a research note on Tuesday, January 16th. Goldman Sachs began coverage on Emergent BioSolutions in a research note on Wednesday, January 24th. They issued a neutral rating and a $55.00 target price on the stock. Finally, Singular Research upped their target price on Emergent BioSolutions from $45.00 to $60.00 and gave the company a buy rating in a research note on Tuesday, February 27th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of Hold and an average target price of $55.40.
NYSE EBS opened at $52.34 on Tuesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.42 and a current ratio of 4.85. Emergent BioSolutions has a 12-month low of $28.85 and a 12-month high of $55.91. The company has a market cap of $2,583.62, a price-to-earnings ratio of 27.55, a price-to-earnings-growth ratio of 1.02 and a beta of 1.29.
Emergent BioSolutions declared that its Board of Directors has authorized a share repurchase program on Thursday, March 22nd that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the biopharmaceutical company to buy shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.
In other Emergent BioSolutions news, Director Ronald Richard sold 7,893 shares of the stock in a transaction on Tuesday, April 17th. The stock was sold at an average price of $55.00, for a total transaction of $434,115.00. Following the transaction, the director now owns 31,303 shares of the company’s stock, valued at approximately $1,721,665. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Adam Havey sold 1,898 shares of the stock in a transaction on Thursday, March 1st. The stock was sold at an average price of $49.50, for a total value of $93,951.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 15,633 shares of company stock worth $836,640. Corporate insiders own 16.50% of the company’s stock.
Several institutional investors have recently modified their holdings of EBS. Financial Gravity Companies Inc. purchased a new position in shares of Emergent BioSolutions during the 4th quarter worth $118,000. LS Investment Advisors LLC lifted its stake in shares of Emergent BioSolutions by 183.0% during the 4th quarter. LS Investment Advisors LLC now owns 3,948 shares of the biopharmaceutical company’s stock worth $183,000 after purchasing an additional 2,553 shares during the period. GW&K Investment Management LLC purchased a new position in shares of Emergent BioSolutions during the 4th quarter worth $200,000. Two Sigma Investments LP purchased a new position in shares of Emergent BioSolutions in the 4th quarter worth $223,000. Finally, Greenwood Capital Associates LLC purchased a new position in shares of Emergent BioSolutions in the 4th quarter worth $226,000. 82.29% of the stock is currently owned by institutional investors.
About Emergent BioSolutions
Emergent BioSolutions Inc focuses on the development, manufacture, and commercialization of medical countermeasures that address public health threats. Its products address public health threats primarily chemical, biological, radiological, nuclear, and explosive-related threats, as well as infectious diseases.
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