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

Emergent BioSolutions (NYSE:EBS) declared that its Board of Directors has approved a share repurchase program 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 reacquire up to 19% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.

Emergent BioSolutions Stock Performance

Shares of EBS opened at $4.85 on Tuesday. The company has a current ratio of 2.88, a quick ratio of 1.47 and a debt-to-equity ratio of 1.30. The firm has a market cap of $263.70 million, a PE ratio of -1.18 and a beta of 1.80. The stock has a fifty day moving average price of $7.94 and a 200-day moving average price of $8.63. Emergent BioSolutions has a 12 month low of $1.82 and a 12 month high of $15.10.

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

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on EBS. StockNews.com cut 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 set a $15.00 price target on shares of Emergent BioSolutions in a research report on Friday, March 21st.

Insider Buying and Selling

In other Emergent BioSolutions news, Director Neal Franklin Fowler sold 35,000 shares of the company’s stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $5.83, for a total value of $204,050.00. Following the sale, the director now directly owns 101,100 shares of the company’s stock, valued at approximately $589,413. This represents a 25.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.20% of the stock is owned by corporate insiders.

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.