Cambrex (CBM) Updates FY 2018 Earnings Guidance

Cambrex (NYSE:CBM) issued an update on its FY 2018 earnings guidance on Thursday morning. The company provided earnings per share guidance of $2.95-3.09 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.79.

Shares of NYSE:CBM opened at $51.22 on Friday. Cambrex has a 12 month low of $44.80 and a 12 month high of $69.43. The firm has a market cap of $1.88 billion, a P/E ratio of 15.06, a P/E/G ratio of 2.00 and a beta of 2.42.

Cambrex (NYSE:CBM) last issued its quarterly earnings data on Thursday, November 8th. The biotechnology company reported $0.49 EPS for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.10). Cambrex had a return on equity of 22.32% and a net margin of 20.75%. The company had revenue of $104.62 million for the quarter, compared to analyst estimates of $122.04 million. During the same quarter in the previous year, the business earned $0.55 earnings per share. The company’s revenue was down 7.1% on a year-over-year basis. Analysts predict that Cambrex will post 2.82 EPS for the current year.

A number of equities research analysts recently commented on CBM shares. Jefferies Financial Group started coverage on shares of Cambrex in a report on Tuesday, September 25th. They set a buy rating and a $75.50 price objective on the stock. Zacks Investment Research upgraded shares of Cambrex from a hold rating to a strong-buy rating and set a $73.00 price objective on the stock in a report on Wednesday, August 8th. Finally, First Analysis upgraded shares of Cambrex from an outperform rating to a strong-buy rating and dropped their price objective for the stock from $73.00 to $63.00 in a report on Friday. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Cambrex currently has a consensus rating of Buy and an average target price of $70.50.

In related news, CFO Tom George Vadaketh sold 9,510 shares of the firm’s stock in a transaction on Monday, August 20th. The shares were sold at an average price of $63.42, for a total transaction of $603,124.20. Following the sale, the chief financial officer now directly owns 9,510 shares in the company, valued at $603,124.20. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Steven M. Klosk sold 20,000 shares of Cambrex stock in a transaction on Tuesday, October 23rd. The shares were sold at an average price of $54.76, for a total transaction of $1,095,200.00. Following the completion of the sale, the chief executive officer now owns 103,328 shares in the company, valued at $5,658,241.28. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 84,510 shares of company stock worth $5,344,824. 2.42% of the stock is currently owned by company insiders.

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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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