Zacks Investment Research Lowers China Biologic Products Inc. (CBPO) to Hold
China Biologic Products Inc. (NASDAQ:CBPO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Tuesday.
According to Zacks, “China Biologic Products, Inc., through its indirect majority-owned subsidiary, is principally engaged in the research, development, production, manufacturing and sale of plasma-based biopharmaceutical products to hospitals and other health care facilities in China. Its subsidiary, Shandong Taibang Biological Products Co. Ltd., operates from its manufacturing facility located in Taian City, Shandong Province. The Company’s principal products include its approved human albumin and immunoglobulin products. These human albumin products are mainly used to increase blood volume and its immunoglobulin products are used for the treatment and prevention of diseases. “
CBPO has been the subject of several other reports. Credit Suisse Group AG upgraded China Biologic Products from a “neutral” rating to an “outperform” rating in a research report on Tuesday, July 5th. Jefferies Group upped their target price on China Biologic Products from $136.00 to $155.00 and gave the stock a “buy” rating in a research report on Friday, August 5th.
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China Biologic Products (NASDAQ:CBPO) traded down 2.51% during trading on Tuesday, reaching $120.09. The company’s stock had a trading volume of 168,361 shares. China Biologic Products has a 52 week low of $95.70 and a 52 week high of $144.29. The firm has a 50-day moving average price of $119.27 and a 200-day moving average price of $117.24. The firm has a market capitalization of $3.23 billion, a P/E ratio of 34.63 and a beta of 1.55.
China Biologic Products (NASDAQ:CBPO) last issued its quarterly earnings data on Thursday, August 4th. The biopharmaceutical company reported $1.26 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.16 by $0.10. The business earned $91.40 million during the quarter, compared to the consensus estimate of $87.60 million. China Biologic Products had a return on equity of 19.65% and a net margin of 29.66%. The business’s revenue was up 15.6% on a year-over-year basis. During the same period in the previous year, the firm posted $1.06 earnings per share. On average, equities analysts anticipate that China Biologic Products will post $4.33 EPS for the current fiscal year.
In other news, insider Zhijing Cbpo Liu sold 1,968 shares of the stock in a transaction on Monday, August 15th. The stock was sold at an average price of $124.32, for a total transaction of $244,661.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Ming Yang sold 21,092 shares of the stock in a transaction on Monday, August 15th. The shares were sold at an average price of $124.32, for a total value of $2,622,157.44. Following the sale, the chief financial officer now owns 24,782 shares of the company’s stock, valued at approximately $3,080,898.24. The disclosure for this sale can be found here. 2.68% of the stock is owned by company insiders.
Large investors have recently made changes to their positions in the stock. Copper Rock Capital Partners LLC increased its stake in shares of China Biologic Products by 9.3% in the third quarter. Copper Rock Capital Partners LLC now owns 22,901 shares of the biopharmaceutical company’s stock worth $2,834,000 after buying an additional 1,941 shares during the period. BNP Paribas Arbitrage SA increased its stake in shares of China Biologic Products by 3,357.5% in the third quarter. BNP Paribas Arbitrage SA now owns 1,383 shares of the biopharmaceutical company’s stock valued at $172,000 after buying an additional 1,343 shares during the period. Macquarie Group Ltd. purchased a new stake in shares of China Biologic Products during the second quarter valued at about $2,721,000. CI Investments Inc. increased its stake in shares of China Biologic Products by 13.1% in the second quarter. CI Investments Inc. now owns 65,700 shares of the biopharmaceutical company’s stock valued at $6,985,000 after buying an additional 7,600 shares during the period. Finally, Royal Bank of Canada purchased a new stake in shares of China Biologic Products during the second quarter valued at about $9,733,000. Institutional investors own 71.71% of the company’s stock.
About China Biologic Products
China Biologic Products, Inc (China Biologic) is a biopharmaceutical company. The Company is principally engaged in the research, development, manufacturing and sales of human plasma-based biopharmaceutical products in China. It operates in the manufacture and sales of human plasma products segment. It has a product portfolio with over 20 various dosage forms of plasma products and other biopharmaceutical products across over nine categories.
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