Lazard Asset Management LLC Has $528,000 Stock Holdings in Emergent BioSolutions Inc. (NYSE:EBS)

Lazard Asset Management LLC raised its stake in Emergent BioSolutions Inc. (NYSE:EBS) by 541.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 55,303 shares of the biopharmaceutical company’s stock after purchasing an additional 46,676 shares during the quarter. Lazard Asset Management LLC owned approximately 0.10% of Emergent BioSolutions worth $528,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in EBS. Allspring Global Investments Holdings LLC bought a new position in shares of Emergent BioSolutions in the fourth quarter valued at $1,831,000. New York State Common Retirement Fund grew its position in shares of Emergent BioSolutions by 41.7% in the 4th quarter. New York State Common Retirement Fund now owns 306,286 shares of the biopharmaceutical company’s stock valued at $2,928,000 after acquiring an additional 90,113 shares during the period. Hussman Strategic Advisors Inc. acquired a new position in shares of Emergent BioSolutions during the 4th quarter worth about $201,000. Wolverine Asset Management LLC acquired a new position in shares of Emergent BioSolutions during the 4th quarter worth about $1,303,000. Finally, SBI Securities Co. Ltd. bought a new stake in shares of Emergent BioSolutions in the 4th quarter valued at about $63,000. Institutional investors and hedge funds own 78.40% of the company’s stock.

Insider Buying and Selling

In other news, Director Neal Franklin Fowler sold 35,000 shares of the business’s 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 sale, the director now owns 101,100 shares of the company’s stock, valued at approximately $589,413. The trade was a 25.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 3.20% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. StockNews.com downgraded Emergent BioSolutions from a “buy” rating to a “hold” rating in a research report 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 note on Tuesday, April 1st.

Emergent BioSolutions Stock Performance

NYSE EBS opened at $6.44 on Thursday. The stock has a market cap of $349.55 million, a PE ratio of -1.57 and a beta of 2.09. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.47 and a current ratio of 2.88. The firm has a 50-day moving average of $5.21 and a 200-day moving average of $7.75. Emergent BioSolutions Inc. has a 52-week low of $4.02 and a 52-week high of $15.10.

Emergent BioSolutions (NYSE:EBS) last issued its quarterly earnings data on Wednesday, May 7th. The biopharmaceutical company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.22. Emergent BioSolutions had a negative net margin of 18.55% and a negative return on equity of 9.91%. The firm had revenue of $222.20 million during the quarter, compared to the consensus estimate of $218.50 million. On average, sell-side analysts anticipate that Emergent BioSolutions Inc. will post -0.63 EPS for the current year.

Emergent BioSolutions announced that its board has initiated a share buyback plan on Monday, March 31st that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the biopharmaceutical company to buy up to 19% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

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.