Renaissance Technologies LLC Grows Position in Emergent BioSolutions Inc. (NYSE:EBS)

Renaissance Technologies LLC increased its position in Emergent BioSolutions Inc. (NYSE:EBS - Free Report) by 26.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 665,847 shares of the biopharmaceutical company's stock after purchasing an additional 140,900 shares during the period. Renaissance Technologies LLC owned 1.23% of Emergent BioSolutions worth $6,365,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. SBI Securities Co. Ltd. purchased a new stake in shares of Emergent BioSolutions in the 4th quarter worth about $63,000. Stifel Financial Corp purchased a new stake in Emergent BioSolutions in the third quarter worth about $96,000. E Fund Management Co. Ltd. bought a new position in shares of Emergent BioSolutions during the fourth quarter valued at approximately $98,000. Cornercap Investment Counsel Inc. bought a new stake in shares of Emergent BioSolutions in the 4th quarter worth approximately $115,000. Finally, LPL Financial LLC increased its position in Emergent BioSolutions by 34.5% during the 4th quarter. LPL Financial LLC now owns 15,120 shares of the biopharmaceutical company's stock valued at $145,000 after buying an additional 3,875 shares in the last quarter. Institutional investors own 78.40% of the company's stock.

Emergent BioSolutions Stock Performance

Shares of NYSE EBS traded up $0.20 during midday trading on Thursday, hitting $5.18. 176,491 shares of the company's stock traded hands, compared to its average volume of 2,642,833. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.47 and a current ratio of 2.88. The stock has a market capitalization of $281.19 million, a price-to-earnings ratio of -1.25 and a beta of 2.14. The firm has a fifty day moving average of $5.68 and a 200 day moving average of $8.23. Emergent BioSolutions Inc. has a 1 year low of $1.82 and a 1 year high of $15.10.

Emergent BioSolutions (NYSE:EBS - Get Free Report) last posted its quarterly earnings data on Monday, March 3rd. The biopharmaceutical company reported $0.05 EPS for the quarter, topping the consensus estimate of ($0.35) by $0.40. The firm had revenue of $194.70 million for the quarter, compared to the consensus estimate of $254.67 million. Emergent BioSolutions had a negative return on equity of 9.91% and a negative net margin of 18.55%. During the same quarter last year, the company earned ($0.77) earnings per share. On average, analysts forecast that Emergent BioSolutions Inc. will post -0.63 earnings per share for the current year.

Emergent BioSolutions announced that its Board of Directors has initiated a share buyback program on Monday, March 31st that allows the company to buyback $50.00 million in shares. This buyback authorization allows the biopharmaceutical company to repurchase up to 19% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board believes its shares are undervalued.

Insider Buying and Selling at Emergent BioSolutions

In other news, Director Neal Franklin Fowler sold 35,000 shares of Emergent BioSolutions stock in a transaction that occurred on Wednesday, March 12th. The stock was 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 in the company, valued at approximately $589,413. The trade was a 25.72 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.20% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. StockNews.com downgraded shares of Emergent BioSolutions from a "buy" rating to a "hold" rating in a research note on Wednesday, March 5th. HC Wainwright reaffirmed a "buy" rating and issued a $15.00 price objective on shares of Emergent BioSolutions in a research report on Tuesday, April 1st.

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.