Cambrex (NYSE:CBM) issued its quarterly earnings results on Thursday. The biotechnology company reported $0.49 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.59 by ($0.10), MarketWatch Earnings reports. Cambrex had a net margin of 20.75% and a return on equity of 22.32%. The company had revenue of $104.62 million for the quarter, compared to analyst estimates of $122.04 million. During the same quarter in the previous year, the company posted $0.55 EPS. The company’s revenue for the quarter was down 7.1% compared to the same quarter last year. Cambrex updated its FY 2018 guidance to $2.95-3.09 EPS.
Shares of Cambrex stock opened at $51.22 on Friday. Cambrex has a 12-month low of $44.80 and a 12-month high of $69.43. The company has a market cap of $1.88 billion, a price-to-earnings ratio of 15.06, a P/E/G ratio of 2.00 and a beta of 2.42.
A number of research analysts have issued reports on CBM shares. Jefferies Financial Group started coverage on shares of Cambrex in a research note on Tuesday, September 25th. They set a “buy” rating and a $75.50 price target on the stock. First Analysis upgraded shares of Cambrex from an “outperform” rating to a “strong-buy” rating and cut their price target for the company from $73.00 to $63.00 in a research note on Friday. Finally, Zacks Investment Research upgraded shares of Cambrex from a “hold” rating to a “strong-buy” rating and set a $73.00 price target on the stock in a research note on Wednesday, August 8th. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $70.50.
In other news, CEO Steven M. Klosk sold 20,000 shares of the stock in a transaction on Tuesday, October 23rd. The shares were sold at an average price of $54.76, for a total value of $1,095,200.00. Following the sale, the chief executive officer now owns 103,328 shares in the company, valued at $5,658,241.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Steven M. Klosk sold 55,000 shares of the stock in a transaction on Tuesday, September 4th. The stock was sold at an average price of $66.30, for a total transaction of $3,646,500.00. Following the completion of the sale, the chief executive officer now owns 138,328 shares in the company, valued at approximately $9,171,146.40. The disclosure for this sale can be found here. Insiders sold 84,510 shares of company stock worth $5,344,824 in the last quarter. Company insiders own 2.42% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the company. BlackRock Inc. increased its stake in shares of Cambrex by 2.3% in the third quarter. BlackRock Inc. now owns 4,731,609 shares of the biotechnology company’s stock worth $323,642,000 after acquiring an additional 107,359 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Cambrex by 2.0% in the third quarter. Bank of New York Mellon Corp now owns 1,501,436 shares of the biotechnology company’s stock worth $102,698,000 after acquiring an additional 29,470 shares during the period. Granite Investment Partners LLC increased its stake in shares of Cambrex by 4.2% in the third quarter. Granite Investment Partners LLC now owns 304,075 shares of the biotechnology company’s stock worth $20,799,000 after acquiring an additional 12,300 shares during the period. Oak Ridge Investments LLC acquired a new stake in shares of Cambrex in the third quarter worth $10,224,000. Finally, GW&K Investment Management LLC increased its stake in shares of Cambrex by 0.8% in the third quarter. GW&K Investment Management LLC now owns 457,847 shares of the biotechnology company’s stock worth $31,317,000 after acquiring an additional 3,415 shares during the period.
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Cambrex Company Profile
Cambrex Corporation, a life sciences company, provides various products and services for the development and commercialization of new and generic therapeutics worldwide. Its products comprise active pharmaceutical ingredients and pharmaceutical intermediates that are used in the production of prescription and over-the-counter drug products, as well as other fine chemicals.
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