Cambrex Co. (CBM) Upgraded at Zacks Investment Research
Cambrex Co. (NYSE:CBM) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday. The firm currently has a $59.00 price target on the biotechnology company’s stock. Zacks Investment Research‘s target price indicates a potential upside of 12.60% from the company’s current price.
According to Zacks, “Cambrex Corporation manufactures and markets a broad line of specialty chemicals and commodity chemical intermediates and also manufactures chemicals to customer specifications. There are five product categories: pharmaceutical bulk actives; pharmaceutical intermediates; organic intermediates; performance enhancers; and polymer systems. “
A number of other research analysts have also weighed in on the company. Stephens set a $61.00 price target on Cambrex and gave the stock a “buy” rating in a research note on Monday, February 6th. Craig Hallum set a $70.00 price target on Cambrex and gave the stock a “buy” rating in a research note on Monday, February 6th. Finally, First Analysis increased their price target on Cambrex from $54.00 to $66.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 17th.
Shares of Cambrex (NYSE:CBM) traded down 0.57% during mid-day trading on Thursday, reaching $52.40. The company’s stock had a trading volume of 299,230 shares. The company has a market capitalization of $1.71 billion, a price-to-earnings ratio of 19.95 and a beta of 1.95. The company’s 50 day moving average price is $55.12 and its 200-day moving average price is $52.59. Cambrex has a 1-year low of $38.30 and a 1-year high of $62.95.
Cambrex (NYSE:CBM) last issued its quarterly earnings results on Thursday, May 4th. The biotechnology company reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.17. Cambrex had a return on equity of 24.53% and a net margin of 16.65%. The company had revenue of $105.01 million for the quarter, compared to analyst estimates of $99.05 million. During the same quarter in the prior year, the company posted $0.50 EPS. The business’s revenue for the quarter was up 10.9% compared to the same quarter last year. Analysts predict that Cambrex will post $3.00 earnings per share for the current fiscal year.
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In related news, CEO Steven M. Klosk sold 23,822 shares of the stock in a transaction on Thursday, February 16th. The stock was sold at an average price of $52.50, for a total value of $1,250,655.00. Following the completion of the sale, the chief executive officer now directly owns 94,241 shares in the company, valued at approximately $4,947,652.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Steven M. Klosk sold 12,000 shares of the stock in a transaction on Wednesday, March 1st. The shares were sold at an average price of $56.70, for a total value of $680,400.00. Following the completion of the sale, the chief executive officer now owns 95,328 shares of the company’s stock, valued at $5,405,097.60. The disclosure for this sale can be found here. Insiders sold a total of 142,620 shares of company stock worth $7,702,158 over the last ninety days. Corporate insiders own 2.63% of the company’s stock.
A number of hedge funds have recently made changes to their positions in CBM. Flinton Capital Management LLC increased its stake in shares of Cambrex by 3.8% in the first quarter. Flinton Capital Management LLC now owns 1,870 shares of the biotechnology company’s stock valued at $103,000 after buying an additional 68 shares in the last quarter. YorkBridge Wealth Partners LLC increased its stake in shares of Cambrex by 20.2% in the first quarter. YorkBridge Wealth Partners LLC now owns 1,874 shares of the biotechnology company’s stock valued at $106,000 after buying an additional 315 shares in the last quarter. Dubuque Bank & Trust Co. bought a new stake in shares of Cambrex during the first quarter valued at about $144,000. Ameritas Investment Partners Inc. bought a new stake in shares of Cambrex during the first quarter valued at about $151,000. Finally, State of Alaska Department of Revenue increased its stake in shares of Cambrex by 2.6% in the first quarter. State of Alaska Department of Revenue now owns 3,570 shares of the biotechnology company’s stock valued at $196,000 after buying an additional 90 shares in the last quarter. Hedge funds and other institutional investors own 98.23% of the company’s stock.
Cambrex Corporation (Cambrex) is a life sciences company. It provides products and services for the development and commercialization of generic therapeutics. It operates through four segments, which are manufacturing facilities that have been aggregated as a single segment. Its manufacturing facilities are owned by the subsidiaries, including Cambrex Charles City, Inc, Cambrex Karlskoga AB and Cambrex Profarmaco Milano S.r.l.
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