Emergent BioSolutions (NYSE:EBS) to Repurchase $50.00 million in Shares

Emergent BioSolutions (NYSE:EBS) declared that its board has authorized a stock repurchase program on Monday, March 31st, RTT News reports. The company plans to repurchase $50.00 million in shares. This repurchase authorization authorizes the biopharmaceutical company to buy up to 19% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Emergent BioSolutions Trading Up 4.1 %

EBS stock traded up $0.19 during midday trading on Monday, reaching $4.85. The company’s stock had a trading volume of 3,174,973 shares, compared to its average volume of 2,641,803. The business’s 50-day simple moving average is $8.04 and its 200-day simple moving average is $8.65. The stock has a market cap of $263.70 million, a PE ratio of -1.18 and a beta of 1.80. Emergent BioSolutions has a 52 week low of $1.82 and a 52 week high of $15.10. The company has a quick ratio of 1.47, a current ratio of 2.88 and a debt-to-equity ratio of 1.30.

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. StockNews.com cut Emergent BioSolutions from a “buy” rating to a “hold” rating in a research note on Wednesday, March 5th. HC Wainwright reiterated a “buy” rating and issued a $15.00 price target on shares of Emergent BioSolutions in a report on Friday, March 21st.

Insider Activity at Emergent BioSolutions

In other news, Director Neal Franklin Fowler sold 35,000 shares of the business’s stock in a transaction 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 $589,413. The trade was a 25.72 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.20% of the stock is currently owned by corporate 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.