Morgan Stanley lifted its position in shares of Emergent Biosolutions Inc (NYSE:EBS) by 218.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 270,769 shares of the biopharmaceutical company’s stock after acquiring an additional 185,660 shares during the quarter. Morgan Stanley owned approximately 0.52% of Emergent Biosolutions worth $13,081,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Earnest Partners LLC raised its position in Emergent Biosolutions by 860.6% during the 2nd quarter. Earnest Partners LLC now owns 1,692,171 shares of the biopharmaceutical company’s stock worth $81,749,000 after purchasing an additional 1,516,013 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Emergent Biosolutions by 1,633.3% in the 1st quarter. The Manufacturers Life Insurance Company now owns 474,247 shares of the biopharmaceutical company’s stock valued at $23,959,000 after buying an additional 446,886 shares during the period. Jennison Associates LLC grew its stake in shares of Emergent Biosolutions by 197.0% in the 2nd quarter. Jennison Associates LLC now owns 562,121 shares of the biopharmaceutical company’s stock valued at $27,156,000 after buying an additional 372,857 shares during the period. Wells Fargo & Company MN boosted its stake in Emergent Biosolutions by 119.5% during the 2nd quarter. Wells Fargo & Company MN now owns 344,191 shares of the biopharmaceutical company’s stock valued at $16,628,000 after purchasing an additional 187,359 shares during the last quarter. Finally, BlackRock Inc. boosted its stake in Emergent Biosolutions by 2.3% during the 2nd quarter. BlackRock Inc. now owns 6,891,631 shares of the biopharmaceutical company’s stock valued at $332,936,000 after purchasing an additional 155,055 shares during the last quarter. 87.81% of the stock is currently owned by institutional investors.
In other news, Director Kathryn C. Zoon sold 1,509 shares of the firm’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $56.12, for a total transaction of $84,685.08. Following the sale, the director now directly owns 21,494 shares in the company, valued at approximately $1,206,243.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 14.10% of the stock is owned by company insiders.
Emergent Biosolutions (NYSE:EBS) last issued its earnings results on Thursday, August 1st. The biopharmaceutical company reported $0.12 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by ($0.04). The company had revenue of $243.20 million during the quarter, compared to analysts’ expectations of $217.94 million. Emergent Biosolutions had a positive return on equity of 6.68% and a negative net margin of 2.04%. The company’s revenue for the quarter was up 10.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.07 EPS. As a group, sell-side analysts anticipate that Emergent Biosolutions Inc will post 3.04 earnings per share for the current year.
EBS has been the topic of a number of research analyst reports. Cowen restated a “hold” rating and issued a $60.00 target price on shares of Emergent Biosolutions in a research note on Wednesday, July 31st. Laidlaw set a $72.00 price target on shares of Emergent Biosolutions and gave the stock a “buy” rating in a report on Wednesday, September 4th. ValuEngine raised shares of Emergent Biosolutions from a “hold” rating to a “buy” rating in a report on Wednesday, September 4th. Chardan Capital set a $71.00 price target on shares of Emergent Biosolutions and gave the stock a “buy” rating in a report on Tuesday, September 3rd. Finally, Guggenheim initiated coverage on shares of Emergent Biosolutions in a report on Thursday, September 12th. They issued a “buy” rating and a $65.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $70.25.
About Emergent Biosolutions
Emergent BioSolutions Inc, a life sciences company, focuses on the provision of specialty products for civilian and military populations that address accidental, intentional, and naturally occurring public health threats (PHTs). Its products address PHTs, including chemical, biological, radiological, nuclear, and explosives; emerging infectious diseases; travelers' diseases; and opioids.
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