Emergent Bio Up as Street Biggies Lap Up Shares
Market News

Emergent Bio Up as Street Biggies Lap Up Shares

Shares of life sciences company Emergent BioSolutions (NYSE:EBS) are rising today after multiple big guns on the Street bought the recent dip in the stock.

The company’s fourth-quarter numbers last month fell short of estimates on the bottom line front. The company is anticipating stabilizing a top line and an improving cost structure for 2023. Revenue is expected at $1.15 billion with a gross margin of 43% and an adjusted EBITDA of $100 million.

Data indicates names including Eagle Asset, Great-West Life Assurance, and UBS Group picked up shares of the company. Additionally, Hotchkis & Wiley Capital too has increased its position in the stock by nearly 137%.

Overall, though, our data dive at TipRanks indicates Hedge Fund Confidence signal in the stock still remains Neutral.

Wall Street has a consensus price target of $21 on EBS, implying a hefty 102.9% potential upside in the stock. That’s after a nearly 14% slide in the share price so far this year.

Read full Disclosure

Related Articles
TheFlyEmergent BioSolutions falls -8.4%
TheFlyEmergent BioSolutions to settle securities class action litigation for $40M
GlobeNewswireEmergent BioSolutions Announces Agreement to Settle Securities Class Action Litigation
Go Ad-Free with Our App