Geode Capital Management LLC Raises Position in Emergent BioSolutions Inc. (NYSE:EBS)

Geode Capital Management LLC raised its position in shares of Emergent BioSolutions Inc. (NYSE:EBS) by 1.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 590,862 shares of the biopharmaceutical company’s stock after acquiring an additional 8,904 shares during the quarter. Geode Capital Management LLC owned approximately 1.09% of Emergent BioSolutions worth $5,651,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. SBI Securities Co. Ltd. purchased a new stake in shares of Emergent BioSolutions during the fourth quarter worth $63,000. Stifel Financial Corp acquired a new stake in Emergent BioSolutions in the 3rd quarter valued at about $96,000. E Fund Management Co. Ltd. purchased a new position in Emergent BioSolutions in the 4th quarter worth approximately $98,000. Cornercap Investment Counsel Inc. acquired a new position in shares of Emergent BioSolutions during the 4th quarter worth approximately $115,000. Finally, LPL Financial LLC grew its position in shares of Emergent BioSolutions by 34.5% in the fourth quarter. LPL Financial LLC now owns 15,120 shares of the biopharmaceutical company’s stock valued at $145,000 after purchasing an additional 3,875 shares in the last quarter. Hedge funds and other institutional investors own 78.40% of the company’s stock.

Analyst Upgrades and Downgrades

EBS has been the subject of several analyst reports. HC Wainwright restated a “buy” rating and issued a $15.00 target price on shares of Emergent BioSolutions in a report on Tuesday, April 1st. StockNews.com cut shares of Emergent BioSolutions from a “buy” rating to a “hold” rating in a research report on Wednesday, March 5th.

Emergent BioSolutions Stock Performance

NYSE EBS opened at $5.50 on Friday. The stock has a fifty day simple moving average of $5.54 and a 200-day simple moving average of $8.18. The company has a current ratio of 2.88, a quick ratio of 1.47 and a debt-to-equity ratio of 1.30. The stock has a market cap of $298.85 million, a PE ratio of -1.34 and a beta of 2.14. Emergent BioSolutions Inc. has a twelve month low of $1.82 and a twelve month high of $15.10.

Emergent BioSolutions (NYSE:EBS) last announced its quarterly earnings results on Monday, March 3rd. The biopharmaceutical company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.40. Emergent BioSolutions had a negative net margin of 18.55% and a negative return on equity of 9.91%. The business had revenue of $194.70 million during the quarter, compared to analysts’ expectations of $254.67 million. During the same period last year, the business earned ($0.77) earnings per share. Equities analysts anticipate that Emergent BioSolutions Inc. will post -0.63 earnings per share for the current year.

Emergent BioSolutions announced that its board has authorized a share repurchase program on Monday, March 31st that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the biopharmaceutical company to reacquire up to 19% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In other news, Director Neal Franklin Fowler sold 35,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $5.83, for a total value of $204,050.00. Following the completion of the transaction, the director now owns 101,100 shares of the company’s stock, valued at approximately $589,413. This trade represents a 25.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.20% of the stock is owned by insiders.

Emergent BioSolutions Company Profile

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.