Emergent Biosolutions Inc. (NYSE:EBS) Shares Bought by Palisade Capital Management LP

Palisade Capital Management LP raised its holdings in shares of Emergent Biosolutions Inc. (NYSE:EBS - Free Report) by 21.6% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,141,589 shares of the biopharmaceutical company's stock after purchasing an additional 202,857 shares during the quarter. Palisade Capital Management LP owned 2.10% of Emergent Biosolutions worth $5,548,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. American Century Companies Inc. grew its position in shares of Emergent Biosolutions by 23.4% during the fourth quarter. American Century Companies Inc. now owns 2,137,712 shares of the biopharmaceutical company's stock worth $20,437,000 after buying an additional 404,667 shares in the last quarter. Invesco Ltd. grew its holdings in Emergent Biosolutions by 70.9% during the 4th quarter. Invesco Ltd. now owns 1,539,907 shares of the biopharmaceutical company's stock worth $14,722,000 after acquiring an additional 638,995 shares in the last quarter. Millennium Management LLC increased its position in shares of Emergent Biosolutions by 83.0% in the 4th quarter. Millennium Management LLC now owns 1,481,906 shares of the biopharmaceutical company's stock worth $14,167,000 after purchasing an additional 671,947 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Emergent Biosolutions by 67.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,104,058 shares of the biopharmaceutical company's stock worth $10,554,000 after purchasing an additional 444,790 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in Emergent Biosolutions by 8.3% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 902,332 shares of the biopharmaceutical company's stock valued at $8,626,000 after buying an additional 69,157 shares during the last quarter. 78.40% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Emergent Biosolutions

In related news, Director Keith Katkin sold 7,844 shares of the stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $6.30, for a total value of $49,417.20. Following the sale, the director owned 86,431 shares of the company's stock, valued at $544,515.30. This trade represents a 8.32% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.20% of the company's stock.

Analyst Upgrades and Downgrades

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

Emergent Biosolutions Stock Performance

Shares of NYSE:EBS traded down $0.12 during trading on Friday, reaching $6.99. 917,382 shares of the company's stock traded hands, compared to its average volume of 1,730,728. The stock has a market capitalization of $379.40 million, a P/E ratio of -2.58 and a beta of 2.09. Emergent Biosolutions Inc. has a 12 month low of $4.02 and a 12 month high of $15.10. The company has a 50 day moving average of $6.21 and a 200-day moving average of $7.10. The company has a debt-to-equity ratio of 1.20, a current ratio of 6.32 and a quick ratio of 3.51.

Emergent Biosolutions (NYSE:EBS - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The biopharmaceutical company reported $0.71 earnings per share for the quarter, topping analysts' consensus estimates of $0.49 by $0.22. The business had revenue of $222.20 million for the quarter, compared to analysts' expectations of $218.50 million. Emergent Biosolutions had a negative return on equity of 0.52% and a negative net margin of 13.63%. On average, equities analysts expect that Emergent Biosolutions Inc. will post -0.63 EPS for the current year.

Emergent Biosolutions declared that its Board of Directors has initiated a stock 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 stock through open market purchases. Stock buyback programs are typically an indication that the company's management believes its stock is undervalued.

Emergent Biosolutions 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.