Emergent Biosolutions (EBS) Board Declares Stock Repurchase Plan

Emergent Biosolutions (NYSE:EBS) announced that its Board of Directors has approved a stock buyback plan, which permits the company to repurchase $50.00 million in shares on Thursday, March 22nd, EventVestor reports. This repurchase authorization permits the biopharmaceutical company to buy shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Several equities research analysts recently commented on the company. ValuEngine raised Emergent Biosolutions from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Singular Research upped their target price on Emergent Biosolutions from $45.00 to $60.00 and gave the stock a “buy” rating in a research report on Tuesday, February 27th. Zacks Investment Research cut Emergent Biosolutions from a “hold” rating to a “sell” rating in a research report on Monday, February 26th. Goldman Sachs began coverage on Emergent Biosolutions in a research report on Wednesday, January 24th. They set a “neutral” rating and a $55.00 target price for the company. Finally, Chardan Capital upped their target price on Emergent Biosolutions from $47.00 to $53.00 and gave the stock a “buy” rating in a research report on Tuesday, January 16th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the stock. Emergent Biosolutions has an average rating of “Buy” and an average price target of $52.80.

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Shares of EBS stock opened at $52.95 on Friday. The stock has a market capitalization of $2,692.01, a P/E ratio of 31.33, a price-to-earnings-growth ratio of 1.06 and a beta of 1.26. The company has a current ratio of 4.85, a quick ratio of 3.42 and a debt-to-equity ratio of 0.01. Emergent Biosolutions has a 12-month low of $27.94 and a 12-month high of $54.87.

Emergent Biosolutions (NYSE:EBS) last announced its earnings results on Thursday, February 22nd. The biopharmaceutical company reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.04. The firm had revenue of $193.80 million during the quarter, compared to analysts’ expectations of $189.96 million. Emergent Biosolutions had a return on equity of 13.66% and a net margin of 14.73%. The company’s revenue was up 27.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.74 earnings per share. equities analysts forecast that Emergent Biosolutions will post 2.33 EPS for the current fiscal year.

In other news, EVP Adam Havey sold 5,842 shares of the company’s stock in a transaction that occurred on Monday, March 12th. The stock was sold at an average price of $52.82, for a total transaction of $308,574.44. Following the completion of the transaction, the executive vice president now directly owns 35,756 shares in the company, valued at $1,888,631.92. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Daniel Abdun-Nabi sold 21,906 shares of the company’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $47.91, for a total value of $1,049,516.46. Following the transaction, the chief executive officer now owns 226,040 shares of the company’s stock, valued at $10,829,576.40. The disclosure for this sale can be found here. Insiders have sold 34,798 shares of company stock valued at $1,714,330 in the last ninety days. Company insiders own 16.50% of the company’s stock.

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Emergent Biosolutions Company Profile

Emergent BioSolutions Inc is a life sciences company. The Company focuses on protecting and enhancing life by providing specialty products for civilian and military populations that address accidental, intentional and naturally emerging public health threats. It focuses on developing, manufacturing and commercializing medical countermeasures that address public health threats (PHTs).

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