Morse Asset Management Inc Purchases New Shares in Emergent BioSolutions Inc. (NYSE:EBS)

Morse Asset Management Inc acquired a new position in shares of Emergent BioSolutions Inc. (NYSE:EBS - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 158,819 shares of the biopharmaceutical company's stock, valued at approximately $1,518,000. Morse Asset Management Inc owned 0.29% of Emergent BioSolutions at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Covestor Ltd boosted its holdings in shares of Emergent BioSolutions by 5,458.5% during the fourth quarter. Covestor Ltd now owns 2,946 shares of the biopharmaceutical company's stock worth $28,000 after acquiring an additional 2,893 shares during the period. SBI Securities Co. Ltd. acquired a new position in Emergent BioSolutions during the fourth quarter valued at approximately $63,000. E Fund Management Co. Ltd. acquired a new position in Emergent BioSolutions during the fourth quarter valued at approximately $98,000. EP Wealth Advisors LLC acquired a new position in Emergent BioSolutions during the fourth quarter valued at approximately $110,000. Finally, Alpine Global Management LLC acquired a new position in Emergent BioSolutions during the fourth quarter valued at approximately $112,000. Institutional investors and hedge funds own 78.40% of the company's stock.

Wall Street Analyst Weigh In

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

Emergent BioSolutions Price Performance

NYSE:EBS traded up $1.17 during trading hours on Friday, hitting $6.66. The stock had a trading volume of 2,949,897 shares, compared to its average volume of 1,874,525. The company has a 50 day simple moving average of $5.16 and a two-hundred day simple moving average of $7.80. The company has a debt-to-equity ratio of 1.30, a current ratio of 2.88 and a quick ratio of 1.47. Emergent BioSolutions Inc. has a one year low of $4.02 and a one year high of $15.10. The firm has a market capitalization of $361.22 million, a price-to-earnings ratio of -1.62 and a beta of 2.09.

Emergent BioSolutions (NYSE:EBS - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The biopharmaceutical company reported $0.71 EPS for the quarter, beating the consensus estimate of $0.49 by $0.22. Emergent BioSolutions had a negative net margin of 18.55% and a negative return on equity of 9.91%. The firm had revenue of $222.20 million during the quarter, compared to the consensus estimate of $218.50 million. Research analysts forecast that Emergent BioSolutions Inc. will post -0.63 earnings per share for the current fiscal year.

Emergent BioSolutions declared that its board has approved a share repurchase program on Monday, March 31st that permits the company to buyback $50.00 million in shares. This buyback authorization permits the biopharmaceutical company to purchase up to 19% of its shares through open market purchases. Shares buyback programs are often an indication that the company's management believes its shares are undervalued.

Insider Activity at Emergent BioSolutions

In related news, Director Neal Franklin Fowler sold 35,000 shares of the firm's stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $5.83, for a total transaction of $204,050.00. Following the completion of the transaction, the director now directly 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 legal filing with the SEC, which is accessible through this link. 1.20% of the stock is owned by corporate insiders.

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.