Cambrex (CBM) Issues Earnings Results, Misses Expectations By $0.10 EPS

Cambrex (NYSE:CBM) announced 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 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 company posted $0.55 earnings per share. The business’s quarterly revenue was down 7.1% on a year-over-year basis. Cambrex updated its FY 2018 guidance to $2.95-3.09 EPS.

CBM opened at $51.22 on Friday. The firm 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. Cambrex has a 52-week low of $44.80 and a 52-week high of $69.43.

In other Cambrex news, CFO Tom George Vadaketh sold 9,510 shares of the stock in a transaction on Monday, August 20th. The shares were sold at an average price of $63.42, for a total transaction of $603,124.20. Following the transaction, the chief financial officer now directly owns 9,510 shares of the company’s stock, valued at $603,124.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Steven M. Klosk sold 55,000 shares of the stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $66.30, for a total transaction of $3,646,500.00. Following 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. Over the last ninety days, insiders have sold 84,510 shares of company stock worth $5,344,824. Insiders own 2.42% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of CBM. Investment Counselors of Maryland LLC lifted 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 worth $24,273,000 after buying an additional 415,574 shares in the last quarter. BlackRock Inc. lifted its stake in shares of Cambrex by 8.7% in the second quarter. BlackRock Inc. now owns 4,624,250 shares of the biotechnology company’s stock worth $241,849,000 after buying an additional 370,806 shares in the last quarter. Acadian Asset Management LLC lifted its stake in shares of Cambrex by 104.3% in the third quarter. Acadian Asset Management LLC now owns 483,763 shares of the biotechnology company’s stock worth $33,090,000 after buying an additional 247,016 shares in the last quarter. Wells Fargo & Company MN lifted its stake in shares of Cambrex by 110.6% in the second quarter. Wells Fargo & Company MN now owns 437,963 shares of the biotechnology company’s stock worth $22,906,000 after buying an additional 230,018 shares in the last quarter. Finally, Copper Rock Capital Partners LLC purchased a new position in shares of Cambrex in the third quarter worth about $10,205,000.

A number of analysts recently issued reports on the stock. First Analysis raised shares of Cambrex from an “outperform” rating to a “strong-buy” rating and lowered their price target for the stock from $73.00 to $63.00 in a report on Friday. Jefferies Financial Group assumed coverage on shares of Cambrex in a report on Tuesday, September 25th. They set a “buy” rating and a $75.50 price target on the stock. Finally, Zacks Investment Research raised shares of Cambrex from a “hold” rating to a “strong-buy” rating and set a $73.00 price target on the stock in a report on Wednesday, August 8th. Two analysts have rated the stock with a hold rating, two have given a buy rating and two have assigned a strong buy rating to the stock. Cambrex currently has a consensus rating of “Buy” and an average target price of $70.50.

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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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Earnings History for Cambrex (NYSE:CBM)

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