Earnest Partners LLC lifted its position in Emergent Biosolutions Inc (NYSE:EBS) by 860.6% in the 2nd quarter, Holdings Channel reports. The fund owned 1,692,171 shares of the biopharmaceutical company’s stock after acquiring an additional 1,516,013 shares during the quarter. Earnest Partners LLC’s holdings in Emergent Biosolutions were worth $81,749,000 as of its most recent SEC filing.
Several other large investors have also recently made changes to their positions in EBS. Clarus Wealth Advisors grew its stake in shares of Emergent Biosolutions by 30.7% in the 2nd quarter. Clarus Wealth Advisors now owns 2,114 shares of the biopharmaceutical company’s stock worth $102,000 after buying an additional 496 shares during the last quarter. KBC Group NV purchased a new stake in shares of Emergent Biosolutions in the 2nd quarter worth approximately $126,000. Marshall Wace North America L.P. grew its stake in shares of Emergent Biosolutions by 250.5% in the 1st quarter. Marshall Wace North America L.P. now owns 4,700 shares of the biopharmaceutical company’s stock worth $237,000 after buying an additional 3,359 shares during the last quarter. Connable Office Inc. purchased a new stake in shares of Emergent Biosolutions in the 2nd quarter worth approximately $262,000. Finally, Royce & Associates LP purchased a new stake in shares of Emergent Biosolutions in the 1st quarter worth approximately $285,000. 88.78% of the stock is owned by hedge funds and other institutional investors.
EBS has been the topic of several recent analyst reports. Guggenheim initiated coverage on Emergent Biosolutions in a research note on Thursday. They set a “buy” rating and a $65.00 target price on the stock. Wells Fargo & Co upgraded Emergent Biosolutions from a “market perform” rating to an “outperform” rating and increased their target price for the company from $61.00 to $64.00 in a research note on Wednesday, September 4th. Cowen reiterated a “hold” rating and set a $60.00 target price on shares of Emergent Biosolutions in a research note on Wednesday, July 31st. Laidlaw set a $72.00 target price on Emergent Biosolutions and gave the company a “buy” rating in a research note on Wednesday, September 4th. Finally, Chardan Capital set a $71.00 target price on Emergent Biosolutions and gave the company a “buy” rating in a research note on Tuesday, September 3rd. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $70.25.
In other news, Director Kathryn C. Zoon sold 1,509 shares of the firm’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $56.12, for a total value of $84,685.08. Following the transaction, the director now directly owns 21,494 shares in the company, valued at approximately $1,206,243.28. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 14.10% of the company’s stock.
Shares of EBS opened at $53.79 on Friday. The business’s fifty day simple moving average is $45.43 and its two-hundred day simple moving average is $48.00. The company has a current ratio of 2.30, a quick ratio of 1.53 and a debt-to-equity ratio of 0.84. Emergent Biosolutions Inc has a 12 month low of $39.11 and a 12 month high of $73.89. The company has a market cap of $2.79 billion, a price-to-earnings ratio of 23.09, a P/E/G ratio of 0.93 and a beta of 1.56.
Emergent Biosolutions (NYSE:EBS) last issued its earnings results on Thursday, August 1st. The biopharmaceutical company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.04). Emergent Biosolutions had a negative net margin of 2.04% and a positive return on equity of 6.68%. The business had revenue of $243.20 million for the quarter, compared to analysts’ expectations of $217.94 million. During the same quarter in the prior year, the business posted $1.07 earnings per share. The business’s revenue for the quarter was up 10.4% on a year-over-year basis. As a group, research analysts forecast that Emergent Biosolutions Inc will post 3.06 EPS for the current year.
Emergent Biosolutions Profile
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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