Emergent Biosolutions (NYSE:EBS) Stock Passes Above 200 Day Moving Average - Here's Why

Emergent Biosolutions Inc. (NYSE:EBS - Get Free Report) shares crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $7.06 and traded as high as $7.41. Emergent Biosolutions shares last traded at $7.34, with a volume of 1,052,154 shares traded.

Analysts Set New Price Targets

Separately, HC Wainwright reaffirmed a "buy" rating and issued a $15.00 price target on shares of Emergent Biosolutions in a research note on Tuesday, April 1st.

Emergent Biosolutions Stock Performance

The firm has a market cap of $398.42 million, a price-to-earnings ratio of -2.71 and a beta of 2.09. The stock has a 50 day moving average of $6.40 and a 200 day moving average of $7.06. The company has a quick ratio of 3.51, a current ratio of 6.32 and a debt-to-equity ratio of 1.20.

Emergent Biosolutions (NYSE:EBS - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The biopharmaceutical company reported $0.71 EPS for the quarter, beating analysts' consensus estimates of $0.49 by $0.22. The business had revenue of $222.20 million during the quarter, compared to the consensus estimate of $218.50 million. Emergent Biosolutions had a negative return on equity of 0.52% and a negative net margin of 13.63%. As a group, analysts anticipate that Emergent Biosolutions Inc. will post -0.63 EPS for the current fiscal year.

Emergent Biosolutions declared that its board has initiated a share buyback plan on Monday, March 31st that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the biopharmaceutical company to reacquire up to 19% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's leadership believes its stock is undervalued.

Insider Transactions at Emergent Biosolutions

In other Emergent Biosolutions news, Director Keith Katkin sold 7,844 shares of Emergent Biosolutions stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $6.30, for a total value of $49,417.20. Following the transaction, the director owned 86,431 shares in the company, valued at $544,515.30. The trade was a 8.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Covestor Ltd grew its position in Emergent Biosolutions by 5,458.5% in the fourth quarter. Covestor Ltd now owns 2,946 shares of the biopharmaceutical company's stock valued at $28,000 after acquiring an additional 2,893 shares during the last quarter. EP Wealth Advisors LLC bought a new stake in shares of Emergent Biosolutions during the fourth quarter worth about $110,000. Alpine Global Management LLC bought a new stake in shares of Emergent Biosolutions during the fourth quarter worth about $112,000. Cornercap Investment Counsel Inc. bought a new stake in shares of Emergent Biosolutions during the fourth quarter worth about $115,000. Finally, SBI Securities Co. Ltd. grew its holdings in shares of Emergent Biosolutions by 95.1% during the first quarter. SBI Securities Co. Ltd. now owns 12,951 shares of the biopharmaceutical company's stock worth $63,000 after purchasing an additional 6,313 shares during the last quarter. 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.