Zacks Investment Research upgraded shares of China Biologic Products Inc. (NASDAQ:CBPO) from a hold rating to a buy rating in a research note issued to investors on Monday. They currently have $138.00 price target on the biopharmaceutical company’s stock.
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 topic of a number of other research reports. Credit Suisse Group AG upgraded China Biologic Products from a neutral rating to an outperform rating in a research note on Tuesday, July 5th. Jefferies Group increased their price target on China Biologic Products from $136.00 to $155.00 and gave the company a buy rating in a research note on Friday, August 5th.
Shares of China Biologic Products (NASDAQ:CBPO) traded down 2.71% during midday trading on Monday, hitting $119.84. 55,769 shares of the stock traded hands. The stock has a 50 day moving average of $119.27 and a 200 day moving average of $117.24. China Biologic Products has a 1-year low of $95.70 and a 1-year high of $144.29. The company has a market capitalization of $3.22 billion, a P/E ratio of 34.56 and a beta of 1.55.
China Biologic Products (NASDAQ:CBPO) last released its quarterly earnings data on Thursday, August 4th. The biopharmaceutical company reported $1.26 EPS for the quarter, beating the consensus estimate of $1.16 by $0.10. The company 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 firm’s revenue for the quarter was up 15.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.06 EPS. Equities research analysts predict that China Biologic Products will post $4.33 earnings per share for the current fiscal year.
In other China Biologic Products 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Ming Yang sold 21,092 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 value of $2,622,157.44. Following the transaction, the chief financial officer now owns 24,782 shares in the company, valued at approximately $3,080,898.24. The disclosure for this sale can be found here. Company insiders own 2.68% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Investment Management LLC purchased a new position in China Biologic Products during the second quarter valued at $158,000. BNP Paribas Arbitrage SA boosted its position in 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 last quarter. Capstone Investment Advisors LLC purchased a new position in China Biologic Products during the second quarter valued at $223,000. Legal & General Group Plc boosted its position in China Biologic Products by 23.5% in the second quarter. Legal & General Group Plc now owns 2,101 shares of the biopharmaceutical company’s stock valued at $223,000 after buying an additional 400 shares during the last quarter. Finally, Springbok Capital Management LLC purchased a new position in China Biologic Products during the first quarter valued at $229,000. Hedge funds and other 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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