Emergent BioSolutions downgraded to Market Perform from Outperform at Wells Fargo. Wells Fargo analyst David Maris downgraded Emergent BioSolutions to Market Perform from Outperform with a price target of $56 given a more fair valuation, saying the stock price is now within 3% of his price objective. Maris notes that the company has been executing well and is likely to be immune to the coming pressure on drug prices, given that its products are not standard prescription but rather specialty. The analyst is also positive on the company's attractive pipeline and commanding position in the biodefense market.
