Millennium Management LLC Boosts Position in Emergent BioSolutions Inc. (NYSE:EBS)

Millennium Management LLC boosted its position in shares of Emergent BioSolutions Inc. (NYSE:EBS) by 5.8% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 946,302 shares of the biopharmaceutical company’s stock after acquiring an additional 52,144 shares during the quarter. Millennium Management LLC owned 1.81% of Emergent BioSolutions worth $6,454,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Emergent BioSolutions during the second quarter valued at $485,000. Squarepoint Ops LLC purchased a new stake in Emergent BioSolutions during the second quarter valued at $1,576,000. Point72 DIFC Ltd purchased a new stake in Emergent BioSolutions during the second quarter valued at $406,000. Marshall Wace LLP increased its position in Emergent BioSolutions by 75.4% during the second quarter. Marshall Wace LLP now owns 542,813 shares of the biopharmaceutical company’s stock valued at $3,702,000 after acquiring an additional 233,341 shares during the last quarter. Finally, Morse Asset Management Inc purchased a new stake in Emergent BioSolutions during the second quarter valued at $97,000. Hedge funds and other institutional investors own 78.40% of the company’s stock.

Emergent BioSolutions Stock Performance

NYSE:EBS opened at $8.44 on Friday. The stock has a 50-day simple moving average of $8.23 and a two-hundred day simple moving average of $6.69. Emergent BioSolutions Inc. has a 52-week low of $1.42 and a 52-week high of $15.10. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.54 and a current ratio of 1.06. The firm has a market capitalization of $442.27 million, a PE ratio of -0.77 and a beta of 1.59.

Emergent BioSolutions (NYSE:EBS) last released its quarterly earnings data on Tuesday, August 6th. The biopharmaceutical company reported ($2.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.97) by ($1.35). Emergent BioSolutions had a negative return on equity of 34.38% and a negative net margin of 53.26%. The business had revenue of $254.70 million during the quarter, compared to the consensus estimate of $199.47 million. During the same period last year, the company earned ($1.06) EPS. Analysts forecast that Emergent BioSolutions Inc. will post -1.98 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Rodman & Renshaw reiterated a “buy” rating and set a $16.00 price objective on shares of Emergent BioSolutions in a research report on Friday, September 13th. Benchmark reissued a “buy” rating and set a $8.00 price target on shares of Emergent BioSolutions in a report on Friday, August 16th.

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.