Cambrex (CBM) Upgraded by Zacks Investment Research to Hold
Cambrex (NYSE:CBM) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a report issued on Monday.
According to Zacks, “Cambrex Corporation is an innovative life sciences company with a refreshingly human approach. Driven by passion, their pharmaceutical products, expertise and technologies accelerate customers’ small molecule therapeutics into markets across the world. The company offers Active Pharmaceutical Ingredients (APIs), advanced intermediates and enhanced drug delivery products for branded and generic pharmaceuticals. Development and manufacturing capabilities include enzymatic biotransformations, high potency APIs, high energy chemical synthesis and controlled substances. Cambrex has transformed from a fine chemical manufacturer to a business with a singular focus on small molecule therapeutics. “
Separately, Craig Hallum reissued a “buy” rating and set a $60.00 price objective (down from $70.00) on shares of Cambrex in a report on Tuesday, October 31st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $62.33.
Cambrex (NYSE:CBM) last issued its earnings results on Tuesday, November 7th. The biotechnology company reported $0.55 EPS for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.08. The business had revenue of $112.60 million for the quarter, compared to analyst estimates of $108.44 million. Cambrex had a net margin of 18.79% and a return on equity of 23.42%. The company’s quarterly revenue was up 13.4% compared to the same quarter last year. During the same period last year, the company posted $0.47 earnings per share. equities research analysts forecast that Cambrex will post 2.97 earnings per share for the current fiscal year.
A number of hedge funds have recently modified their holdings of the stock. Stifel Financial Corp increased its holdings in Cambrex by 0.8% during the second quarter. Stifel Financial Corp now owns 4,580 shares of the biotechnology company’s stock valued at $275,000 after buying an additional 37 shares during the period. YorkBridge Wealth Partners LLC boosted its stake in Cambrex by 5.2% in the second quarter. YorkBridge Wealth Partners LLC now owns 1,971 shares of the biotechnology company’s stock valued at $118,000 after acquiring an additional 97 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in Cambrex by 0.5% in the second quarter. PNC Financial Services Group Inc. now owns 22,178 shares of the biotechnology company’s stock valued at $1,325,000 after acquiring an additional 119 shares in the last quarter. Suntrust Banks Inc. boosted its stake in Cambrex by 2.8% in the second quarter. Suntrust Banks Inc. now owns 7,355 shares of the biotechnology company’s stock valued at $439,000 after acquiring an additional 201 shares in the last quarter. Finally, Amalgamated Bank boosted its stake in Cambrex by 6.1% in the second quarter. Amalgamated Bank now owns 4,473 shares of the biotechnology company’s stock valued at $267,000 after acquiring an additional 258 shares in the last quarter.
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Cambrex Company Profile
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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