AlphaCrest Capital Management LLC Purchases 22,807 Shares of Emergent BioSolutions Inc. (NYSE:EBS)

Posted by Defense World Staff on Mar 8th, 2023

AlphaCrest Capital Management LLC increased its holdings in Emergent BioSolutions Inc. (NYSE:EBS – Get Rating) by 210.4% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 33,648 shares of the biopharmaceutical company’s stock after purchasing an additional 22,807 shares during the period. AlphaCrest Capital Management LLC owned approximately 0.07% of Emergent BioSolutions worth $706,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Ancora Advisors LLC bought a new position in Emergent BioSolutions during the first quarter valued at $66,000. Covestor Ltd raised its holdings in shares of Emergent BioSolutions by 43.8% in the first quarter. Covestor Ltd now owns 1,612 shares of the biopharmaceutical company’s stock worth $66,000 after buying an additional 491 shares during the period. Lazard Asset Management LLC bought a new stake in shares of Emergent BioSolutions during the 1st quarter worth approximately $73,000. Captrust Financial Advisors boosted its holdings in Emergent BioSolutions by 48.6% during the 2nd quarter. Captrust Financial Advisors now owns 2,772 shares of the biopharmaceutical company’s stock valued at $86,000 after acquiring an additional 906 shares during the period. Finally, Quantbot Technologies LP bought a new position in Emergent BioSolutions in the 1st quarter valued at $117,000. Hedge funds and other institutional investors own 80.44% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. StockNews.com lowered shares of Emergent BioSolutions from a “hold” rating to a “sell” rating in a research note on Monday, November 14th. Benchmark lowered Emergent BioSolutions from a “buy” rating to a “hold” rating in a report on Thursday, November 10th. Chardan Capital lowered their target price on Emergent BioSolutions from $65.00 to $55.00 and set a “buy” rating for the company in a report on Wednesday, November 9th. Cowen decreased their price objective on Emergent BioSolutions to $25.00 in a report on Tuesday, November 15th. Finally, TheStreet cut shares of Emergent BioSolutions from a “c-” rating to a “d” rating in a report on Monday, February 27th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $36.75.

Emergent BioSolutions Price Performance

Shares of EBS stock opened at $10.72 on Wednesday. The stock’s 50-day moving average is $13.22 and its 200 day moving average is $16.36. Emergent BioSolutions Inc. has a 1-year low of $10.54 and a 1-year high of $45.14. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.98 and a quick ratio of 0.70. The company has a market cap of $537.50 million, a P/E ratio of -2.39 and a beta of 0.94.

Emergent BioSolutions (NYSE:EBS – Get Rating) last released its quarterly earnings results on Monday, February 27th. The biopharmaceutical company reported ($0.31) earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.62). Emergent BioSolutions had a negative net margin of 19.97% and a negative return on equity of 7.57%. The firm had revenue of $330.70 million during the quarter, compared to the consensus estimate of $298.23 million. During the same quarter in the prior year, the business posted $4.50 earnings per share. The firm’s quarterly revenue was down 54.3% on a year-over-year basis. Research analysts predict that Emergent BioSolutions Inc. will post -0.07 earnings per share for the current fiscal year.

Emergent BioSolutions Profile

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Emergent BioSolutions Inc engages in the development, manufacture, and commercialization of medical countermeasures. It offers products for civilian and military populations that address accidental, intentional, and naturally occurring public health threats. The firm’s products include ACAM2000, BioThrax, Raxibacuma, Vaxchora, and VIGIV.