Cambrex Corporation (CBM) Stock Soars 11% on Earnings Beat

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Shares of Cambrex Corporation (NYSE:CBM) are up big this morning after the company reported their quarterly earnings results. The company reported $156.19 million in revenue, which fell slightly short of Wall Street’s expectations of $156.94 million, but beat the Street’s estimate for earnings per share by a large margin.

Cambrex Corporation (NYSE:CBM) saw earnings per share of $1.01 for the quarter, beating analysts’ expectations of just $0.85 per share. Revenue for the quarter was up year-over-year by close to 21%. This has caused investors to react quite bullishly to the stock in early trading today.

The stock is up 11.59% or $3.79 following the news, hitting $36.5 per share. About 4,077 shares traded hands. CBM has declined 26.37% since July 6, 2015 and is downtrending. It has underperformed the S&P500 by 16.90%.

From a total of 2 analysts covering Cambrex Corp (NYSE:CBM) stock, 2 rate it a “Buy”, 0 a “Sell”, and 0 a “Hold”. This means that 100% of the ratings are positive. The highest target price is $60 while the lowest target price is $55. The mean of all analyst targets is $57.50 which is 57.53% above today’s ($36.5) stock price. Cambrex Corp was the topic of 2 analyst reports since July 21, 2015 according to the firm StockzIntelligence Inc. Stephens initiated shares on July 21 with a “Overweight” rating.

The institutional sentiment is 0.95 in Q2 2015. It’s the same as in 2015Q2. The ratio has no change, as 25 funds sold all their Cambrex Corporation shares they owned while 95 reduced their positions. only 37 funds bought stakes while 77 increased their total positions. Institutions now own 37.49 million shares which is 33.02% more than the previous share count of 28.18 million in 2015Q2.

Ranger Investment Management L.P. holds 2.09% of its total portfolio in Cambrex Corporation, equating to 936,918 shares. Weber Alan W owns 52,947 shares representing 1.89% of their total US portfolio. Moreover, Insight Capital Research & Management Inc has 1.71% of their total portfolio invested in the company, equating to 142,305 shares. The Massachusetts-based Nichols Asset Management Llc has a total of 1.62% of their portfolio invested in the stock. Alphaone Investment Services Llc, a Pennsylvania-based fund reported 94,863 shares owned.

Since May 12, 2015, the stock had 0 insider buys, and 1 sale for a total of $172,800 in net activity. Korb William B sold 3,600 shares worth $172,800. Hendrix Leon J Jr sold 4,956 shares worth $266,633. Kaufthal Ilan sold 50,000 shares worth $2.07 million. Sargen Gregory sold 25,000 shares worth $961,013.

Cambrex Corporation is a life sciences firm that provides services and products for the development and commercialization of new and generic therapeutics. The company has a market cap of $1.05 billion. The Firm supplies its services and products worldwide to innovator and generic pharmaceutical companies. It has 17.35 P/E ratio. The Company’s clients include generic drug companies and companies that discover and commercialize small molecule human therapeutics using organic chemistry.