Oppenheimer Asset Management Inc. lowered its stake in Cambrex Co. (NYSE:CBM) by 10.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 8,521 shares of the biotechnology company’s stock after selling 976 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Cambrex were worth $583,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in the business. BlackRock Inc. lifted its position 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 purchasing an additional 370,806 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Cambrex by 3.8% in the second quarter. Bank of New York Mellon Corp now owns 1,471,966 shares of the biotechnology company’s stock valued at $76,982,000 after purchasing an additional 54,475 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Cambrex by 1.0% in the second quarter. Dimensional Fund Advisors LP now owns 1,420,580 shares of the biotechnology company’s stock valued at $74,295,000 after purchasing an additional 13,858 shares during the last quarter. American Capital Management Inc. increased its stake in shares of Cambrex by 6.7% during the second quarter. American Capital Management Inc. now owns 720,476 shares of the biotechnology company’s stock valued at $37,681,000 after buying an additional 45,312 shares during the period. Finally, Boston Partners increased its stake in shares of Cambrex by 3.2% during the second quarter. Boston Partners now owns 699,286 shares of the biotechnology company’s stock valued at $36,572,000 after buying an additional 21,399 shares during the period.
CBM has been the topic of several research analyst reports. Jefferies Financial Group initiated coverage on Cambrex in a research note on Tuesday, September 25th. They set a “buy” rating and a $75.50 target price on the stock. Zacks Investment Research raised Cambrex from a “hold” rating to a “strong-buy” rating and set a $73.00 target price on the stock in a research note on Wednesday, August 8th. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $74.25.
CBM opened at $55.67 on Wednesday. Cambrex Co. has a 52-week low of $42.75 and a 52-week high of $69.43. The company has a market cap of $1.80 billion, a PE ratio of 17.56, a price-to-earnings-growth ratio of 1.92 and a beta of 2.42.
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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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