Emergent Biosolutions Shares Down 2.6% Following Weak Earnings (EBS)
Emergent Biosolutions (NYSE:EBS)’s share price was down 2.6% during mid-day trading on Friday following a weaker than expected earnings announcement, American Banking News reports. The company traded as low as $20.11 and last traded at $22.27, with a volume of 282,707 shares trading hands. The stock had previously closed at $22.86.
The company reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by $0.07. The company had revenue of $110.30 million for the quarter, compared to the consensus estimate of $109.25 million. During the same quarter in the previous year, the company posted $0.29 earnings per share. The company’s revenue for the quarter was up 33.9% on a year-over-year basis.
A number of analysts have recently weighed in on EBS shares. Analysts at Zacks reiterated a “neutral” rating on shares of Emergent Biosolutions in a research note on Friday, July 25th. They now have a $24.00 price target on the stock. Separately, analysts at Summer Street initiated coverage on shares of Emergent Biosolutions in a research note on Thursday, May 15th. They set a “buy” rating and a $35.00 price target on the stock. Finally, analysts at TheStreet downgraded shares of Emergent Biosolutions from a “buy” rating to a “hold” rating in a research note on Monday, May 12th.
The stock has a 50-day moving average of $22.74 and a 200-day moving average of $23.90. The company has a market cap of $840.6 million and a price-to-earnings ratio of 44.74.
Emergent BioSolutions Inc is a biopharmaceutical company focused on protecting and enhancing life by developing and manufacturing vaccines and antibody therapeutics that are supplied to healthcare providers and purchasers for use in preventing and treating disease.
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