Shares of healthcare company Emergent BioSolutions (NYSE:EBS) are on the surge today after the U.S. Food and Drug Administration (FDA) approved its anthrax vaccine, Cyfendus.
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While the efficacy of the vaccine in post-exposure prophylaxis of disease on either suspected or confirmed exposure to bacillus anthracis is solely based on studies in animal models, the FDA approval comes after multiple studies including a Phase 3 trial in healthy subjects.
Notably, under a pre-emergency use authorization, the company has been providing Cyfendus to the U.S. Department of Health and Human Services for nearly 4 years now.
Moreover, along with Cyfendus, the company’s anthrax franchise also includes the BioThrax vaccine, Anthrasil, and raxibacumab.
Overall, the Street has a $18.50 consensus price target on Emergent alongside a Moderate Buy consensus rating. This points to a hefty 162% potential upside in the stock.
Separately, Emergent is also scheduled to announce second-quarter results on July 27 and is largely expected to post a net loss per share of $0.63 for the quarter. In the year-ago period, it had posted a net loss per share of $0.86 versus the Street’s expectations of an EPS of $0.38.
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