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

Emergent BioSolutions (NYSE:EBS) announced that its board has approved a stock buyback program on Monday, March 31st, RTT News reports. The company plans to repurchase $50.00 million in shares. This repurchase authorization permits the biopharmaceutical company to repurchase up to 19% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

A number of research analysts have weighed in on EBS shares. StockNews.com lowered Emergent BioSolutions from a “buy” rating to a “hold” rating in a research note on Wednesday, March 5th. HC Wainwright reiterated a “buy” rating and set a $15.00 target price on shares of Emergent BioSolutions in a research report on Tuesday.

Emergent BioSolutions Stock Performance

NYSE:EBS opened at $5.18 on Thursday. Emergent BioSolutions has a 1-year low of $1.82 and a 1-year high of $15.10. The company has a debt-to-equity ratio of 1.30, a current ratio of 2.88 and a quick ratio of 1.47. The stock has a market cap of $281.47 million, a P/E ratio of -1.26 and a beta of 1.80. The firm has a 50-day moving average of $7.72 and a two-hundred day moving average of $8.58.

Emergent BioSolutions (NYSE:EBS) last posted its quarterly earnings results on Monday, March 3rd. The biopharmaceutical company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $194.70 million for the quarter, compared to the consensus estimate of $254.67 million. During the same period last year, the firm posted ($0.77) EPS. On average, research analysts expect that Emergent BioSolutions will post -0.63 earnings per share for the current fiscal year.

Insider Buying and Selling

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