Zacks Investment Research upgraded shares of Cambrex Corporation (NYSE:CBM) from a hold rating to a buy rating in a research note released on Thursday, May 11th. They currently have $59.00 price objective on the biotechnology company’s stock.
According to Zacks, “Cambrex Corporation manufactures and markets a broad line of specialty chemicals and commodity chemical intermediates and also manufactures chemicals to customer specifications. There are five product categories: pharmaceutical bulk actives; pharmaceutical intermediates; organic intermediates; performance enhancers; and polymer systems. “
Several other analysts also recently issued reports on the company. Craig Hallum set a $70.00 price objective on Cambrex Corporation and gave the stock a buy rating in a report on Monday, February 6th. First Analysis boosted their price objective on Cambrex Corporation from $54.00 to $66.00 and gave the stock an overweight rating in a report on Tuesday, January 17th. Finally, Stephens set a $61.00 price objective on Cambrex Corporation and gave the stock a buy rating in a report on Monday, February 6th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Cambrex Corporation currently has a consensus rating of Buy and an average price target of $64.00.
Shares of Cambrex Corporation (CBM) opened at 57.40 on Thursday. The stock has a market capitalization of $1.87 billion, a P/E ratio of 21.85 and a beta of 2.42. Cambrex Corporation has a one year low of $38.30 and a one year high of $62.95. The stock’s 50 day moving average is $55.04 and its 200-day moving average is $54.10.
Cambrex Corporation (NYSE:CBM) last posted its quarterly earnings data on Thursday, May 4th. The biotechnology company reported $0.68 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.17. The firm had revenue of $105.01 million for the quarter, compared to the consensus estimate of $99.05 million. Cambrex Corporation had a return on equity of 24.92% and a net margin of 17.36%. The business’s revenue for the quarter was up 10.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.50 EPS. On average, equities research analysts expect that Cambrex Corporation will post $3.02 EPS for the current year.
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In related news, Director Leon J. Hendrix, Jr. sold 20,656 shares of the stock in a transaction that occurred on Tuesday, June 6th. The stock was sold at an average price of $55.95, for a total value of $1,155,703.20. Following the transaction, the director now owns 74,662 shares in the company, valued at $4,177,338.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Steven M. Klosk sold 12,000 shares of the stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $54.19, for a total value of $650,280.00. Following the completion of the transaction, the chief executive officer now owns 95,328 shares in the company, valued at approximately $5,165,824.32. The disclosure for this sale can be found here. Insiders sold a total of 70,656 shares of company stock worth $3,965,183 in the last quarter. 2.48% of the stock is owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in the company. Flinton Capital Management LLC increased its position in Cambrex Corporation by 3.8% in the first quarter. Flinton Capital Management LLC now owns 1,870 shares of the biotechnology company’s stock worth $103,000 after buying an additional 68 shares in the last quarter. YorkBridge Wealth Partners LLC increased its position in Cambrex Corporation by 20.2% in the first quarter. YorkBridge Wealth Partners LLC now owns 1,874 shares of the biotechnology company’s stock worth $106,000 after buying an additional 315 shares in the last quarter. Meeder Asset Management Inc. purchased a new position in Cambrex Corporation during the first quarter worth approximately $109,000. Dubuque Bank & Trust Co. purchased a new position in Cambrex Corporation during the first quarter worth approximately $144,000. Finally, Ameritas Investment Partners Inc. purchased a new position in Cambrex Corporation during the first quarter worth approximately $151,000. Hedge funds and other institutional investors own 98.28% of the company’s stock.
Cambrex Corporation Company Profile
Cambrex Corporation (Cambrex) is a life sciences company. It provides products and services for the development and commercialization of generic therapeutics. It operates through four segments, which are manufacturing facilities that have been aggregated as a single segment. Its manufacturing facilities are owned by the subsidiaries, including Cambrex Charles City, Inc, Cambrex Karlskoga AB and Cambrex Profarmaco Milano S.r.l.
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