Renaissance Technologies LLC trimmed its stake in Emergent Biosolutions Inc (NYSE:EBS) by 9.4% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,871,311 shares of the biopharmaceutical company’s stock after selling 195,200 shares during the quarter. Renaissance Technologies LLC owned approximately 3.67% of Emergent Biosolutions worth $123,188,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. BlackRock Inc. boosted its position in shares of Emergent Biosolutions by 18.2% in the third quarter. BlackRock Inc. now owns 6,350,905 shares of the biopharmaceutical company’s stock worth $418,078,000 after buying an additional 978,194 shares during the period. Northern Trust Corp boosted its position in shares of Emergent Biosolutions by 11.3% in the second quarter. Northern Trust Corp now owns 1,150,184 shares of the biopharmaceutical company’s stock worth $58,072,000 after buying an additional 117,098 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Emergent Biosolutions by 12.7% in the third quarter. Bank of New York Mellon Corp now owns 851,840 shares of the biopharmaceutical company’s stock worth $56,077,000 after buying an additional 95,892 shares during the period. FMR LLC boosted its position in shares of Emergent Biosolutions by 44.3% in the third quarter. FMR LLC now owns 419,175 shares of the biopharmaceutical company’s stock worth $27,594,000 after buying an additional 128,668 shares during the period. Finally, OppenheimerFunds Inc. boosted its position in shares of Emergent Biosolutions by 2.6% in the second quarter. OppenheimerFunds Inc. now owns 341,590 shares of the biopharmaceutical company’s stock worth $17,247,000 after buying an additional 8,507 shares during the period. Institutional investors and hedge funds own 81.39% of the company’s stock.
In related news, Chairman Fuad El-Hibri sold 45,832 shares of Emergent Biosolutions stock in a transaction on Tuesday, November 27th. The stock was sold at an average price of $69.79, for a total transaction of $3,198,615.28. Following the completion of the sale, the chairman now owns 1,428,502 shares of the company’s stock, valued at $99,695,154.58. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Sue Bailey sold 17,717 shares of Emergent Biosolutions stock in a transaction on Tuesday, November 27th. The shares were sold at an average price of $69.62, for a total value of $1,233,457.54. Following the sale, the director now directly owns 57,216 shares of the company’s stock, valued at approximately $3,983,377.92. The disclosure for this sale can be found here. In the last three months, insiders have sold 163,678 shares of company stock valued at $11,030,898. Insiders own 16.50% of the company’s stock.
EBS opened at $65.59 on Friday. The firm has a market cap of $3.53 billion, a P/E ratio of 34.52, a PEG ratio of 1.61 and a beta of 1.26. Emergent Biosolutions Inc has a 1 year low of $42.50 and a 1 year high of $73.89. The company has a quick ratio of 4.29, a current ratio of 5.52 and a debt-to-equity ratio of 0.01.
Emergent Biosolutions (NYSE:EBS) last released its quarterly earnings data on Thursday, November 1st. The biopharmaceutical company reported $0.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.07). The firm had revenue of $173.70 million for the quarter, compared to analyst estimates of $185.16 million. Emergent Biosolutions had a net margin of 14.19% and a return on equity of 12.89%. Emergent Biosolutions’s revenue for the quarter was up 16.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.73 EPS. As a group, analysts predict that Emergent Biosolutions Inc will post 2.15 earnings per share for the current year.
Several analysts have recently commented on the company. Cowen reaffirmed a “hold” rating and issued a $64.00 target price on shares of Emergent Biosolutions in a research report on Tuesday, November 20th. Argus set a $80.00 target price on Emergent Biosolutions and gave the stock a “buy” rating in a research report on Friday, November 9th. Zacks Investment Research reaffirmed a “hold” rating on shares of Emergent Biosolutions in a research report on Tuesday, November 13th. Cantor Fitzgerald raised their target price on Emergent Biosolutions from $68.00 to $75.00 and gave the stock an “overweight” rating in a research report on Friday, November 2nd. Finally, Goldman Sachs Group raised Emergent Biosolutions from a “neutral” rating to a “buy” rating and raised their target price for the stock from $60.00 to $75.00 in a research report on Friday, November 2nd. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $68.13.
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About Emergent Biosolutions
Emergent BioSolutions Inc focuses on the development, manufacture, and commercialization of medical countermeasures that address public health threats. Its products address public health threats primarily chemical, biological, radiological, nuclear, and explosive-related threats, as well as infectious diseases.
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