Emergent BioSolutions (NYSE:EBS) to Repurchase $50.00 million in Outstanding Stock

Emergent BioSolutions (NYSE:EBS) declared that its board has authorized a share repurchase plan on Monday, March 31st, RTT News reports. The company plans to repurchase $50.00 million in shares. This repurchase authorization allows the biopharmaceutical company to purchase up to 19% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its stock is undervalued.

Emergent BioSolutions Stock Up 4.1 %

Shares of EBS opened at $4.85 on Tuesday. The company has a quick ratio of 1.47, a current ratio of 2.88 and a debt-to-equity ratio of 1.30. The business has a fifty day moving average of $7.94 and a 200 day moving average of $8.63. The company has a market cap of $263.70 million, a PE ratio of -1.18 and a beta of 1.80. Emergent BioSolutions has a 52-week low of $1.82 and a 52-week high of $15.10.

Emergent BioSolutions (NYSE:EBS) last released its earnings results on Monday, March 3rd. The biopharmaceutical company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.35) by $0.40. Emergent BioSolutions had a negative net margin of 18.55% and a negative return on equity of 9.91%. The firm had revenue of $194.70 million during the quarter, compared to analyst estimates of $254.67 million. During the same quarter last year, the business earned ($0.77) EPS. On average, sell-side analysts expect that Emergent BioSolutions will post -0.63 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on EBS shares. StockNews.com downgraded shares of Emergent BioSolutions from a “buy” rating to a “hold” rating in a research note on Wednesday, March 5th. HC Wainwright restated a “buy” rating and set a $15.00 target price on shares of Emergent BioSolutions in a research report on Friday, March 21st.

Insider Buying and Selling at Emergent BioSolutions

In related news, Director Neal Franklin Fowler sold 35,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $5.83, for a total transaction of $204,050.00. Following the completion of the sale, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.20% 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.