Cambrex (CBM) Announces Earnings Results

Cambrex (NYSE:CBM) released its earnings results on Thursday. The biotechnology company reported $0.49 EPS for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $122.04 million. During the same period in the prior year, the business earned $0.55 EPS. The company’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.

Shares of NYSE CBM traded down $5.68 during mid-day trading on Thursday, hitting $50.80. The company had a trading volume of 1,152,576 shares, compared to its average volume of 354,151. The company has a market cap of $1.85 billion, a price-to-earnings ratio of 16.03, a price-to-earnings-growth ratio of 1.97 and a beta of 2.42. Cambrex has a 12 month low of $44.80 and a 12 month high of $69.43.

CBM has been the topic of a number of research analyst reports. Jefferies Financial Group initiated coverage on Cambrex in a report 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 report on Wednesday, August 8th. Two research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. Cambrex presently has a consensus rating of “Buy” and a consensus target price of $74.25.

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 sale, the chief executive officer now 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 SEC, which is available at the SEC website. Also, CEO Steven M. Klosk sold 55,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 4th. The stock was sold at an average price of $66.30, for a total value of $3,646,500.00. Following the completion of the sale, the chief executive officer now directly owns 138,328 shares in the company, valued at approximately $9,171,146.40. The disclosure for this sale can be found here. In the last three months, insiders sold 84,510 shares of company stock worth $5,344,824. Company insiders own 2.42% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. UBS Group AG increased its position in Cambrex by 45.8% in the 1st quarter. UBS Group AG now owns 39,748 shares of the biotechnology company’s stock valued at $2,079,000 after acquiring an additional 12,489 shares during the period. LPL Financial LLC increased its position in Cambrex by 62.6% in the 1st quarter. LPL Financial LLC now owns 8,590 shares of the biotechnology company’s stock valued at $449,000 after acquiring an additional 3,307 shares during the period. Guggenheim Capital LLC increased its position in Cambrex by 141.1% in the 1st quarter. Guggenheim Capital LLC now owns 28,665 shares of the biotechnology company’s stock valued at $1,501,000 after acquiring an additional 16,778 shares during the period. Royal Bank of Canada increased its position in Cambrex by 10.0% in the 1st quarter. Royal Bank of Canada now owns 15,248 shares of the biotechnology company’s stock valued at $798,000 after acquiring an additional 1,381 shares during the period. Finally, Xact Kapitalforvaltning AB acquired a new stake in Cambrex in the 1st quarter valued at approximately $243,000.

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About Cambrex

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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