Cambrex (NYSE:CBM) updated its FY 2018 earnings guidance on Thursday. The company provided earnings per share guidance of $2.95-3.09 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.79.
A number of equities research analysts have recently weighed in on the company. First Analysis raised Cambrex from an outperform rating to a strong-buy rating and cut their price target for the stock from $73.00 to $63.00 in a research note on Friday. Zacks Investment Research raised Cambrex from a hold rating to a strong-buy rating and set a $73.00 price target for the company in a research note on Wednesday, August 8th. Finally, Jefferies Financial Group assumed coverage on Cambrex in a research note on Tuesday, September 25th. They set a buy rating and a $75.50 price target for the company. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and an average price target of $70.50.
Shares of CBM traded up $0.89 during midday trading on Friday, reaching $51.69. 466,940 shares of the stock were exchanged, compared to its average volume of 410,884. Cambrex has a 12-month low of $44.80 and a 12-month high of $69.43. The company has a market capitalization of $1.85 billion, a PE ratio of 16.31, a price-to-earnings-growth ratio of 1.97 and a beta of 2.42.
Cambrex (NYSE:CBM) last posted its quarterly earnings results on Thursday, November 8th. The biotechnology company reported $0.49 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.59 by ($0.10). Cambrex had a return on equity of 22.32% and a net margin of 20.75%. The firm had revenue of $104.62 million for the quarter, compared to analysts’ expectations of $122.04 million. During the same period last year, the business earned $0.55 earnings per share. The firm’s revenue for the quarter was down 7.1% on a year-over-year basis. Equities analysts forecast that Cambrex will post 2.82 earnings per share for the current year.
In related news, CEO Steven M. Klosk sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 23rd. The stock was sold at an average price of $54.76, for a total value of $1,095,200.00. Following the transaction, the chief executive officer now directly owns 103,328 shares of the company’s stock, valued at approximately $5,658,241.28. The sale 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 firm’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 in the company, valued at $9,171,146.40. The disclosure for this sale can be found here. Insiders sold a total of 84,510 shares of company stock worth $5,344,824 over the last three months. 2.42% of the stock is owned by company insiders.
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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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