Emergent Biosolutions’s “Neutral” Rating Reaffirmed at Zacks (EBS)
Emergent Biosolutions (NYSE:EBS)‘s stock had its “neutral” rating restated by Zacks in a research report issued on Tuesday. They currently have a $25.00 price objective on the stock. Zacks‘s target price indicates a potential upside of 7.07% from the stock’s previous close.
Zacks’ analyst wrote, “Emergent BioSolutions’ second quarter 2014 earnings of $0.24 per share fell short of the Zacks Consensus Estimate by 2 cents. Quarterly earnings were below the year-ago figure by 17.2%. The year-over-year decline was primarily due to higher costs incurred in the reported quarter. We are encouraged by the company s decision to expand BioThrax’s label. We are positive on Emergent BioSolutions’ acquisition of Cangene as it has significantly expanded the company’s product portfolio/pipeline. We believe that the stock is fairly valued at current levels with limited scope for upside. Consequently, we retain our Neutral recommendation on the Zacks Ranked #3 (Hold) stock.”
Shares of Emergent Biosolutions (NYSE:EBS) traded down 1.93% on Tuesday, hitting $22.90. 110,352 shares of the company’s stock traded hands. Emergent Biosolutions has a 52 week low of $17.14 and a 52 week high of $28.48. The stock’s 50-day moving average is $22.75 and its 200-day moving average is $23.85. The company has a market cap of $858.2 million and a price-to-earnings ratio of 64.50.
Emergent Biosolutions (NYSE:EBS) last released its earnings data on Thursday, August 7th. The company reported $0.25 EPS for the quarter, missing the Thomson Reuters 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 prior year, the company posted $0.29 earnings per share. The company’s quarterly revenue was up 33.9% on a year-over-year basis. On average, analysts predict that Emergent Biosolutions will post $1.17 earnings per share for the current fiscal year.
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.
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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