Emergent BioSolutions (NYSE:EBS) to Repurchase $50.00 million in Stock

Emergent BioSolutions (NYSE:EBS) announced that its Board of Directors has approved a share buyback plan on Monday, March 31st, RTT News reports. The company plans to repurchase $50.00 million in shares. This repurchase authorization permits the biopharmaceutical company to reacquire up to 19% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. HC Wainwright reiterated a “buy” rating and set a $15.00 target price on shares of Emergent BioSolutions in a research report on Tuesday. StockNews.com lowered Emergent BioSolutions from a “buy” rating to a “hold” rating in a report on Wednesday, March 5th.

Emergent BioSolutions Trading Up 9.3 %

Shares of Emergent BioSolutions stock opened at $5.18 on Thursday. The company has a 50-day moving average of $7.72 and a two-hundred day moving average of $8.58. Emergent BioSolutions has a 12-month low of $1.82 and a 12-month high of $15.10. The company has a current ratio of 2.88, a quick ratio of 1.47 and a debt-to-equity ratio of 1.30. The stock has a market cap of $281.47 million, a PE ratio of -1.26 and a beta of 1.80.

Emergent BioSolutions (NYSE:EBS) last released its quarterly earnings data on Monday, March 3rd. The biopharmaceutical company reported $0.05 earnings per share for the quarter, beating the consensus estimate of ($0.35) by $0.40. The firm had revenue of $194.70 million during the quarter, compared to the consensus estimate 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 last year, the business posted ($0.77) EPS. On average, research analysts anticipate that Emergent BioSolutions will post -0.63 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Neal Franklin Fowler sold 35,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $5.83, for a total transaction of $204,050.00. Following the completion of the transaction, the director now directly owns 101,100 shares of the company’s stock, valued at $589,413. This trade represents a 25.72 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.20% of the company’s stock.

Emergent BioSolutions Company Profile

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.