Cantor Fitzgerald analyst Brandon Folkes reiterated a Buy rating on Emergent Biosolutions (NYSE: EBS) today and set a price target of $68. The company’s shares opened today at $59.68, close to its 52-week high of $64.
Folkes said:
“. We are reiterating our Overweight rating and raising our 12-month price target to $68, from $62. Our price target increase is driven by the inclusion of the announced acquisitions of Pharma (both Private). We view the acquisitions as providing visibility into the company’s path to $1B+ in revenue, which we now expect EBS to achieve next year. EBS continues to be the leader in the biodefense field, and the recent acquisitions leverage the company’s historic expertise, while further diversifying revenue away from BioThrax.”
According to TipRanks.com, Folkes is a 2-star analyst with an average return of 0.2% and a 41.2% success rate. Folkes covers the Healthcare sector, focusing on stocks such as Biohaven Pharmaceutical Holding Co Ltd, Opiant Pharmaceuticals Inc, and Eagle Pharmaceuticals Inc.
Emergent Biosolutions has an analyst consensus of Moderate Buy, with a price target consensus of $59.50.
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The company has a one-year high of $64 and a one-year low of $36.38. Currently, Emergent Biosolutions has an average volume of 305.1K.
Based on the recent corporate insider activity of 53 insiders, corporate insider sentiment is negative on the stock.
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Emergent BioSolutions Inc. engages in the development, manufacture, and commercialization of medical countermeasures that address public health and national security threats. It includes Chemical, Biological, Radiological, Nuclear and Explosive or CBRNE threats; as well as emerging infectious diseases.
