UPDATE: Benchmark Downgrades Emergent BioSolutions (EBS) to Hold, 'Delay in ACAM2000 Fulfillment Crashes Quarter'
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Benchmark analyst Robert Wasserman downgraded Emergent BioSolutions (NYSE: EBS) from Buy to Hold.
The analyst comments "We are lowering our rating on EBS shares to Hold at this time until the Company can return to positive quarterly earnings comparisons. EBS is continuing discussions with the USG related to the ACAM2000 purchase shortfall, which would be a big boost to results for 4Q22E or 2023E. The Company and could also provide positive news flow to investors in the near-term through new medical countermeasure procurements, contract manufacturing agreements, or progress on its R&D pipeline, which includes clinical trials for products addressing Anthrax, Chikungunya virus, influenza, equine encephalitis, Lassa fever, Ebola virus Sudan virus, and Marburg virus disease."
Shares of Emergent BioSolutions closed at $12.85 yesterday.
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