In a report released yesterday, Brandon Folkes from Cantor Fitzgerald reiterated a Buy rating on Emergent Biosolutions (NYSE: EBS), with a price target of $62. The company’s shares closed yesterday at $54.83, close to its 52-week high of $55.94.
Folkes wrote:
“. Post 2Q18, we are reiterating our Overweight rating and 12- month price target of $62. Emergent has successfully established itself as a leader in the biodefense field and has carved out a high-barrier-to-entry niche in that market. We believe the company’s business is a lot more durable than the Street is giving the company credit for. We expect Emergent to extend a number of its current contracts beyond current estimates. Emergent does not have the risk of commercial insurance reimbursement or payer pricing pressures on its products. The company has set a goal of $1B in revenue, which we expect it to reach through the renewal of contracts, pipeline advancements and business development.”
According to TipRanks.com, Folkes has 0 stars on 0-5 star ranking scale with an average return of -6.6% and a 32.0% 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 $62.
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Emergent Biosolutions’ market cap is currently $2.71B and has a P/E ratio of 40.32. The company has a Price to Book ratio of 3.10.
Based on the recent corporate insider activity of 56 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.
