| Over a week ago | ||||
TD Cowen lowered the… TD Cowen lowered the firm's price target on Emergent BioSolutions to $15 from $25 and keeps a Market Perform rating on the shares. The analyst said they reached an amended credit facility agreement with their lenders pushing the repayment date back to May 15 2025. We view the agreement as a positive for the company now but a covenant focused on EBITDA will keep strong focus on financial performance. | ||||
Emergent BioSolutions… Emergent BioSolutions (EBS) announced it has completed the sale of its travel health business to Bavarian Nordic (BVNRY). At closing Emergent received $270 million, subject to customary closing adjustments, and may receive up to an additional $110 million in potential future milestone payments. With the transaction closed, Bavarian Nordic has acquired the rights to Vivotif, the licensed typhoid vaccine, and Vaxchora, the licensed cholera vaccine, as well as the development-stage chikungunya vaccine candidate CHIKV VLP. Bavarian Nordic also acquired manufacturing facilities in Bern, Switzerland, and development facilities in San Diego, California. The majority of Emergent employees supporting these products and facilities are joining Bavarian Nordic. | ||||
Emergent BioSolutions is… Emergent BioSolutions is down -14.7%, or -$1.55 to $8.96. | ||||
Raises FY23 adjusted… Raises FY23 adjusted EBITDA view to $100M-$150M from $75M-$125M | ||||
Reports Q1 revenue… Reports Q1 revenue $165.1M, consensus $143.28M. "Since the beginning of the year, we have taken strategic actions to stabilize and strengthen our core businesses to create sustainable, long-term value for all our stakeholders," said Robert G. Kramer, president and CEO of Emergent BioSolutions. "The impending sale of our travel health business, notices of intent from the U.S. government to procure medical countermeasures, productive conversations with our lenders, and the anticipated launch of over-the-counter Narcan(R) Nasal Spray later this summer all help build momentum for the rest of 2023 and beyond." | ||||
| Over a month ago | ||||
Emergent BioSolutions is… Emergent BioSolutions is down -4.1%, or -42c to $9.95. | ||||
Emergent BioSolutions is… Emergent BioSolutions is down -6.9%, or -81c to $10.90. | ||||
Emergent BioSolutions is… Emergent BioSolutions is up 13.4%, or $1.42 to $11.98. | ||||
Emergent BioSolutions is… Emergent BioSolutions is up 9.8%, or $1.04 to $11.60. | ||||
