Rodman & Renshaw Reaffirms “Buy” Rating for Emergent BioSolutions (NYSE:EBS)

Rodman & Renshaw restated their buy rating on shares of Emergent BioSolutions (NYSE:EBS) in a research note issued to investors on Friday morning, Benzinga reports. The brokerage currently has a $16.00 target price on the biopharmaceutical company’s stock.

Separately, Benchmark restated a buy rating and issued a $8.00 price target on shares of Emergent BioSolutions in a research note on Friday, August 16th.

Emergent BioSolutions Price Performance

EBS opened at $7.25 on Friday. Emergent BioSolutions has a 1 year low of $1.42 and a 1 year high of $15.10. The stock has a 50-day moving average price of $9.67 and a 200-day moving average price of $6.10. The firm has a market cap of $379.91 million, a PE ratio of -0.66 and a beta of 1.60. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.06 and a quick ratio of 0.54.

Emergent BioSolutions (NYSE:EBS) last posted its quarterly earnings results on Tuesday, August 6th. The biopharmaceutical company reported ($2.32) EPS for the quarter, missing analysts’ consensus estimates of ($0.97) by ($1.35). The firm had revenue of $254.70 million for the quarter, compared to analysts’ expectations of $199.47 million. Emergent BioSolutions had a negative net margin of 53.26% and a negative return on equity of 34.38%. During the same quarter in the previous year, the company earned ($1.06) EPS. Sell-side analysts predict that Emergent BioSolutions will post -1.98 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Truist Financial Corp raised its stake in Emergent BioSolutions by 12.3% during the 2nd quarter. Truist Financial Corp now owns 131,526 shares of the biopharmaceutical company’s stock valued at $897,000 after buying an additional 14,360 shares during the last quarter. Millennium Management LLC increased its position in shares of Emergent BioSolutions by 5.8% during the 2nd quarter. Millennium Management LLC now owns 946,302 shares of the biopharmaceutical company’s stock valued at $6,454,000 after purchasing an additional 52,144 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Emergent BioSolutions in the second quarter worth approximately $485,000. Squarepoint Ops LLC bought a new stake in Emergent BioSolutions during the second quarter valued at approximately $1,576,000. Finally, Point72 DIFC Ltd bought a new stake in shares of Emergent BioSolutions during the 2nd quarter valued at $406,000. Institutional investors own 78.40% of the company’s stock.

About Emergent BioSolutions

Emergent BioSolutions Inc, a life sciences company, provides preparedness and response solutions for accidental, deliberate, and naturally occurring public health threats in the United States. The company offers NARCAN Nasal Spray for the emergency treatment of known or suspected opioid overdose; Vaxchora vaccine for the prevention of cholera; Vivotif vaccine for oral administration for the prevention of typhoid fever; Anthrasil for the treatment of inhalational anthrax; BioThrax, an anthrax vaccine; CYFENDUS for post-exposure prophylaxis of disease following suspected or confirmed exposure to Bacillus anthracis; and Raxibacumab injection for the treatment and prophylaxis of inhalational anthrax.