Cambrex Co. (NYSE:CBM) CEO Steven M. Klosk sold 55,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 4th. The shares were sold at an average price of $66.30, for a total value of $3,646,500.00. Following the completion of the transaction, the chief executive officer now directly owns 138,328 shares of the company’s stock, valued at approximately $9,171,146.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
Cambrex stock opened at $66.45 on Friday. Cambrex Co. has a 1 year low of $42.55 and a 1 year high of $67.85. The company has a market capitalization of $2.24 billion, a PE ratio of 20.96, a PEG ratio of 1.59 and a beta of 2.39.
Cambrex (NYSE:CBM) last released its quarterly earnings data on Thursday, August 2nd. The biotechnology company reported $0.74 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.69 by $0.05. Cambrex had a return on equity of 22.32% and a net margin of 20.75%. The company had revenue of $152.05 million during the quarter, compared to the consensus estimate of $132.78 million. During the same quarter in the prior year, the firm posted $0.76 earnings per share. The firm’s revenue was up 13.0% compared to the same quarter last year. analysts expect that Cambrex Co. will post 2.82 EPS for the current fiscal year.
Several institutional investors have recently added to or reduced their stakes in CBM. Investment Counselors of Maryland LLC increased its stake in shares of Cambrex by 856.2% in the second quarter. Investment Counselors of Maryland LLC now owns 464,112 shares of the biotechnology company’s stock valued at $24,273,000 after buying an additional 415,574 shares during the period. BlackRock Inc. boosted its holdings in Cambrex by 8.7% in the second quarter. BlackRock Inc. now owns 4,624,250 shares of the biotechnology company’s stock valued at $241,849,000 after acquiring an additional 370,806 shares during the last quarter. Lord Abbett & CO. LLC bought a new stake in Cambrex in the first quarter valued at approximately $15,602,000. Wells Fargo & Company MN boosted its holdings in Cambrex by 110.6% in the second quarter. Wells Fargo & Company MN now owns 437,963 shares of the biotechnology company’s stock valued at $22,906,000 after acquiring an additional 230,018 shares during the last quarter. Finally, Acadian Asset Management LLC boosted its holdings in Cambrex by 1,046.4% in the second quarter. Acadian Asset Management LLC now owns 236,747 shares of the biotechnology company’s stock valued at $12,382,000 after acquiring an additional 216,095 shares during the last quarter.
Several research firms have recently issued reports on CBM. Zacks Investment Research raised Cambrex from a “hold” rating to a “strong-buy” rating and set a $73.00 price objective for the company in a research note on Wednesday, August 8th. ValuEngine downgraded Cambrex from a “sell” rating to a “strong sell” rating in a research note on Thursday, June 7th. Two research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $66.50.
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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