Emergent BioSolutions’ (EBS) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright restated their buy rating on shares of Emergent BioSolutions (NYSE:EBS) in a research report sent to investors on Tuesday morning,Benzinga reports. HC Wainwright currently has a $15.00 price objective on the biopharmaceutical company’s stock.

Separately, StockNews.com cut Emergent BioSolutions from a “buy” rating to a “hold” rating in a research note on Wednesday, March 5th.

Emergent BioSolutions Price Performance

Shares of EBS stock opened at $4.84 on Tuesday. The company has a debt-to-equity ratio of 1.30, a current ratio of 2.88 and a quick ratio of 1.47. The company has a market capitalization of $262.72 million, a PE ratio of -1.18 and a beta of 1.80. The firm’s 50-day moving average is $7.58 and its two-hundred day moving average is $8.56. Emergent BioSolutions has a 12 month low of $1.82 and a 12 month high of $15.10.

Emergent BioSolutions (NYSE:EBS) last issued its quarterly earnings data on Monday, March 3rd. The biopharmaceutical company reported $0.05 earnings per share for the quarter, topping the consensus estimate of ($0.35) by $0.40. The company had revenue of $194.70 million during the quarter, compared to analyst estimates of $254.67 million. Emergent BioSolutions had a negative return on equity of 9.91% and a negative net margin of 18.55%. During the same period in the prior year, the business posted ($0.77) earnings per share. Analysts predict that Emergent BioSolutions will post -0.63 earnings per share for the current year.

Emergent BioSolutions announced that its Board of Directors has initiated a stock buyback plan on Monday, March 31st that authorizes the company to repurchase $50.00 million in outstanding shares. This repurchase authorization authorizes the biopharmaceutical company to repurchase up to 19% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In other news, Director Neal Franklin Fowler sold 35,000 shares of Emergent BioSolutions stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $5.83, for a total transaction of $204,050.00. Following the sale, the director now directly owns 101,100 shares of the company’s stock, valued at approximately $589,413. The trade was a 25.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Emergent BioSolutions

Several large investors have recently added to or reduced their stakes in the stock. State Street Corp lifted its holdings in shares of Emergent BioSolutions by 864.7% during the 3rd quarter. State Street Corp now owns 1,911,327 shares of the biopharmaceutical company’s stock valued at $15,960,000 after buying an additional 1,713,200 shares during the last quarter. Oak Hill Advisors LP bought a new stake in Emergent BioSolutions in the third quarter worth $9,296,000. Millennium Management LLC boosted its holdings in Emergent BioSolutions by 83.0% in the fourth quarter. Millennium Management LLC now owns 1,481,906 shares of the biopharmaceutical company’s stock worth $14,167,000 after purchasing an additional 671,947 shares in the last quarter. Invesco Ltd. increased its position in Emergent BioSolutions by 70.9% during the fourth quarter. Invesco Ltd. now owns 1,539,907 shares of the biopharmaceutical company’s stock worth $14,722,000 after buying an additional 638,995 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Emergent BioSolutions by 67.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,104,058 shares of the biopharmaceutical company’s stock valued at $10,554,000 after buying an additional 444,790 shares in the last quarter. 78.40% of the stock is owned by institutional investors and hedge funds.

About Emergent BioSolutions

Emergent BioSolutions Inc, a life sciences company, provides preparedness and response solutions for accidental, deliberate, and naturally occurring public health threats in the United States. The company offers NARCAN Nasal Spray for the emergency treatment of known or suspected opioid overdose; Vaxchora vaccine for the prevention of cholera; Vivotif vaccine for oral administration for the prevention of typhoid fever; Anthrasil for the treatment of inhalational anthrax; BioThrax, an anthrax vaccine; CYFENDUS for post-exposure prophylaxis of disease following suspected or confirmed exposure to Bacillus anthracis; and Raxibacumab injection for the treatment and prophylaxis of inhalational anthrax.