Emergent BioSolutions (NYSE:EBS) Posts Quarterly Earnings Results, Misses Estimates By $0.44 EPS

Emergent BioSolutions (NYSE:EBS) announced its earnings results on Wednesday. The biopharmaceutical company reported ($0.77) EPS for the quarter, missing the consensus estimate of ($0.33) by ($0.44), reports. Emergent BioSolutions had a negative return on equity of 34.39% and a negative net margin of 72.11%. The business had revenue of $276.60 million for the quarter, compared to the consensus estimate of $247.63 million. During the same period in the prior year, the business posted ($0.31) earnings per share. Emergent BioSolutions updated its FY 2024 guidance to EPS and its Q1 2024 guidance to EPS.

Emergent BioSolutions Trading Up 1.8 %

Emergent BioSolutions stock traded up $0.05 during mid-day trading on Friday, reaching $2.82. The company had a trading volume of 1,050,645 shares, compared to its average volume of 3,568,799. Emergent BioSolutions has a fifty-two week low of $1.42 and a fifty-two week high of $13.67. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.55 and a current ratio of 1.09. The business has a fifty day simple moving average of $2.17 and a 200 day simple moving average of $2.66.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on EBS shares. JPMorgan Chase & Co. reissued an “underweight” rating on shares of Emergent BioSolutions in a research note on Monday, November 20th. Benchmark raised shares of Emergent BioSolutions from a “hold” rating to a “buy” rating and set a $5.00 price objective on the stock in a research note on Thursday. Finally, StockNews.com raised shares of Emergent BioSolutions from a “sell” rating to a “hold” rating in a research note on Tuesday, December 12th.

Hedge Funds Weigh In On Emergent BioSolutions

Hedge funds have recently modified their holdings of the business. Quantbot Technologies LP raised its stake in Emergent BioSolutions by 218.7% during the third quarter. Quantbot Technologies LP now owns 8,700 shares of the biopharmaceutical company’s stock worth $30,000 after buying an additional 5,970 shares during the last quarter. CoreCap Advisors LLC bought a new position in Emergent BioSolutions during the fourth quarter worth $33,000. Laurion Capital Management LP bought a new position in Emergent BioSolutions during the third quarter worth $37,000. Gotham Asset Management LLC bought a new position in Emergent BioSolutions during the third quarter worth $37,000. Finally, Osaic Holdings Inc. raised its stake in Emergent BioSolutions by 139.5% during the second quarter. Osaic Holdings Inc. now owns 5,667 shares of the biopharmaceutical company’s stock worth $42,000 after buying an additional 3,301 shares during the last quarter. Institutional investors and hedge funds own 88.26% of the company’s stock.

About Emergent BioSolutions

Emergent BioSolutions Inc, a life sciences company, focuses on the provision of preparedness and response solutions that address accidental, deliberate, and naturally occurring public health threats (PHTs) in the United States. Its products address PHTs, which include chemical, biological, radiological, nuclear, and explosives; emerging infectious diseases; travel health; public health crises; and acute, emergency, and community care.