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EBS

Emergent BioSolutions

$55.69

-0.82 (-1.45%)

06:45
01/13/20
01/13
06:45
01/13/20
06:45

Emergent BioSolutions sees FY19 revenue $1.1B, consensus $1.11B

Emergent BioSolutions announced selected preliminary unaudited 2019 financial results and its financial forecast for 2020. The company stated, "Our preliminary results for 2019 reflect another strong year of execution on the part of the entire Emergent team. With total revenue of $1.1B, anticipated gross margin of 56% to 58%, which is a 200 to 400 basis point improvement over prior year, and margins on adjusted net income and adjusted EBITDA of 14% and 26% respectively, our financial performance reflects the consistency and durability of our business model and its focus on public health threat solutions. Moreover, we achieved our key operational goals for the year, which included securing over $3B of renewed contract value, expanding markets for our existing products and services portfolio, and continuing investments to advance our product pipeline and enhance our manufacturing infrastructure. As we enter 2020, we are planning for continued expansion of our business and a financial forecast that at the midpoint anticipates 11% year-over-year growth in total revenue along with strong absolute and relative gains in adjusted net income and adjusted EBITDA. We intend to achieve these outcomes while simultaneously expanding our portfolio of advanced stage product candidates that address serious global public health threats. As a result, we are confident in the strength of our business model as we pursue the sustained growth and value creation to be realized in the 2020-2024 growth strategy we announced at the Analyst & Investor Day we held in November, which contemplates annual revenue in excess of $2B by 2024."

  • 13

    Jan

EBS Emergent BioSolutions
$55.69

-0.82 (-1.45%)

09/04/19
WELS
09/04/19
UPGRADE
Target $64
WELS
Outperform
Wells Fargo upgrades Emergent BioSolutions after 'major' contact win
Wells Fargo analyst Davis Maris upgraded Emergent BioSolutions to Outperform from Market Perform and raised his price target for the shares to $64 from $61. Emergent yesterday announced a much anticipated follow-on U.S. government contract for ACAM2000, its smallpox vaccine, Maris tells investors in a research note. Investors were worried about this delayed contract and were expecting a 10-year contract worth approximately $450M, well below the $2B value, adds the analyst. He believes the "major" contract removes a "major overhang" on shares of Emergent BioSolutions.
09/11/19
GUGG
09/11/19
INITIATION
GUGG
Buy
Emergent BioSolutions initiated with a Buy at Guggenheim
Guggenheim analyst Dana Flanders initiated Emergent BioSolutions with a Buy rating and a $65 price target. The analyst called the company "an adept acquirer," and noted that it looks ready to potentially further acquire in the MCM space. Additionally, Flanders believes Narcan is positioned for growth due to the opioid epidemic, although he noted that competition and litigation are potential issues.
11/22/19
CANT
11/22/19
NO CHANGE
Target $75
CANT
Overweight
Cantor reiterates Overweight on Emergent BioSolutions with $75 price target
Cantor Fitzgerald analyst Brandon Folkes reiterates an Overweight rating on Emergent BioSolutions with a $75 price target following the company's investor day. The company provided its corporate growth strategy for 2020-2024, with the goal of reaching $2B-plus in revenue by 2024 and an adjusted EBITDA margin of 27%-30%. Emergent continues to lead the biodefense field and has been able to significantly diversify its business since it set its last five-year plan in 2016, Folkes tells investors in a research note. Further, he believes Emergent's base business "is a lot more durable than it gets credit for." The analyst expects upward earnings revisions and multiple expansion to drive the stock higher.
01/08/20
GUGG
01/08/20
NO CHANGE
Target $40
GUGG
Buy
Horizon Therapeutics named Guggenheim's best Emerging Pharma idea for 2020
Guggenheim analyst Dana Flanders believes selectivity "remains critical" in the Emerging Pharma space and sees therapeutics as best positioned into 2020 despite a strong year-end rally from generics. The analyst is bullish into Horizon Therapeutics' (HZNP) potential Q1 launch of teprotumumab and sees a "strong case" for continued multiple expansion at Bausch Health (BHC). Flanders also likes the risk/reward profiles for Emergent BioSolutions (EBS) and Bellus Health (BLU) ahead of legal and clinical catalysts. Across generics, Amneal Pharmaceuticals (AMRX) is the analyst's least preferred name due to valuation and skepticism on sustaining the company's medium-term growth above peers. Flanders calls Horizon his best idea and upped the stock's price target to $40 from $36. He also raised Bausch's target to $36 from $30 and Sell-rated Amneal's target to $3 from $2.

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