Stock Buyback Plan Initiated by Emergent BioSolutions (NYSE:EBS) Board of Directors

Emergent BioSolutions (NYSE:EBS) declared that its Board of Directors has authorized a share buyback program on Monday, March 31st, RTT News reports. The company plans to repurchase $50.00 million in shares. This repurchase authorization authorizes the biopharmaceutical company to purchase up to 19% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

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

Emergent BioSolutions Stock Up 4.1 %

EBS stock traded up $0.19 during midday trading on Monday, hitting $4.85. The company’s stock had a trading volume of 3,174,973 shares, compared to its average volume of 2,641,803. The company’s fifty day moving average price is $8.04 and its 200 day moving average price is $8.65. 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 has a twelve month low of $1.82 and a twelve month high of $15.10. The stock has a market capitalization of $263.70 million, a P/E ratio of -1.18 and a beta of 1.80.

Emergent BioSolutions (NYSE:EBS) last announced its quarterly earnings data on Monday, March 3rd. The biopharmaceutical company reported $0.05 earnings per share for the quarter, beating the consensus estimate of ($0.35) by $0.40. Emergent BioSolutions had a negative return on equity of 9.91% and a negative net margin of 18.55%. The company had revenue of $194.70 million during the quarter, compared to analysts’ expectations of $254.67 million. During the same quarter last year, the company earned ($0.77) EPS. As a group, equities research analysts predict that Emergent BioSolutions will post -0.63 EPS for the current year.

Insiders Place Their Bets

In other news, Director Neal Franklin Fowler sold 35,000 shares of Emergent BioSolutions stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $5.83, for a total value of $204,050.00. Following the completion of the transaction, the director now owns 101,100 shares of the company’s stock, valued at $589,413. This trade represents a 25.72 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 1.20% of the company’s stock.

Emergent BioSolutions Company 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.