Panagora Asset Management Inc. reduced its position in shares of Emergent Biosolutions Inc (NYSE:EBS) by 97.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,131 shares of the biopharmaceutical company’s stock after selling 228,569 shares during the period. Panagora Asset Management Inc.’s holdings in Emergent Biosolutions were worth $344,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of EBS. Vaughan Nelson Investment Management L.P. lifted its position in Emergent Biosolutions by 8.3% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 571,409 shares of the biopharmaceutical company’s stock valued at $27,605,000 after purchasing an additional 44,009 shares during the period. Prudential Financial Inc. boosted its stake in Emergent Biosolutions by 7.3% during the 2nd quarter. Prudential Financial Inc. now owns 359,117 shares of the biopharmaceutical company’s stock worth $17,349,000 after acquiring an additional 24,285 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Emergent Biosolutions by 5.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 23,338 shares of the biopharmaceutical company’s stock worth $1,120,000 after acquiring an additional 1,272 shares during the last quarter. Mckinley Capital Management LLC Delaware bought a new position in Emergent Biosolutions during the 2nd quarter worth approximately $4,089,000. Finally, Wells Fargo & Company MN boosted its stake in Emergent Biosolutions by 119.5% during the 2nd quarter. Wells Fargo & Company MN now owns 344,191 shares of the biopharmaceutical company’s stock worth $16,628,000 after acquiring an additional 187,359 shares during the last quarter. Institutional investors own 88.78% of the company’s stock.
EBS has been the subject of several recent analyst reports. Cowen reaffirmed a “hold” rating and set a $60.00 price objective on shares of Emergent Biosolutions in a research report on Wednesday, July 31st. Chardan Capital set a $71.00 price objective on shares of Emergent Biosolutions and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. Wells Fargo & Co raised shares of Emergent Biosolutions from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $61.00 to $64.00 in a research report on Wednesday, September 4th. Guggenheim initiated coverage on shares of Emergent Biosolutions in a research report on Thursday. They set a “buy” rating and a $65.00 price objective for the company. Finally, ValuEngine raised shares of Emergent Biosolutions from a “hold” rating to a “buy” rating in a research report on Wednesday, September 4th. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $70.25.
EBS traded down $0.77 on Friday, hitting $53.37. 3,813 shares of the stock were exchanged, compared to its average volume of 504,523. Emergent Biosolutions Inc has a 12 month low of $39.11 and a 12 month high of $73.89. The business has a 50-day moving average of $45.43 and a two-hundred day moving average of $48.00. The company has a debt-to-equity ratio of 0.84, a current ratio of 2.30 and a quick ratio of 1.53. The firm has a market capitalization of $2.79 billion, a price-to-earnings ratio of 22.79, a PEG ratio of 0.93 and a beta of 1.56.
Emergent Biosolutions (NYSE:EBS) last posted its quarterly earnings data on Thursday, August 1st. The biopharmaceutical company reported $0.12 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by ($0.04). Emergent Biosolutions had a positive return on equity of 6.68% and a negative net margin of 2.04%. The firm had revenue of $243.20 million for the quarter, compared to the consensus estimate of $217.94 million. During the same period in the prior year, the company earned $1.07 EPS. The company’s revenue for the quarter was up 10.4% compared to the same quarter last year. Equities research analysts expect that Emergent Biosolutions Inc will post 3.06 earnings per share for the current fiscal year.
About Emergent Biosolutions
Emergent BioSolutions Inc, a life sciences company, focuses on the provision of specialty products for civilian and military populations that address accidental, intentional, and naturally occurring public health threats (PHTs). Its products address PHTs, including chemical, biological, radiological, nuclear, and explosives; emerging infectious diseases; travelers' diseases; and opioids.
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