Cambrex Co. (NYSE:CBM) was the target of a significant drop in short interest in the month of November. As of November 15th, there was short interest totalling 1,110,000 shares, a drop of 5.1% from the October 31st total of 1,170,000 shares. Approximately 3.3% of the shares of the company are short sold. Based on an average daily trading volume, of 542,800 shares, the short-interest ratio is currently 2.0 days.
Institutional investors and hedge funds have recently made changes to their positions in the business. Marshall Wace LLP bought a new position in Cambrex during the first quarter worth about $30,000. Quantamental Technologies LLC bought a new position in Cambrex during the second quarter worth about $100,000. Tower Research Capital LLC TRC lifted its stake in Cambrex by 67.7% during the second quarter. Tower Research Capital LLC TRC now owns 2,188 shares of the biotechnology company’s stock worth $102,000 after purchasing an additional 883 shares during the period. Yorktown Management & Research Co Inc bought a new position in Cambrex during the third quarter worth about $250,000. Finally, Magnus Financial Group LLC bought a new position in Cambrex during the second quarter worth about $215,000. Hedge funds and other institutional investors own 90.96% of the company’s stock.
NYSE CBM opened at $59.99 on Tuesday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.70 and a current ratio of 2.37. The firm has a 50-day simple moving average of $59.77 and a 200 day simple moving average of $52.96. Cambrex has a twelve month low of $33.80 and a twelve month high of $60.29. The stock has a market cap of $2.02 billion, a PE ratio of 21.66 and a beta of 2.14.
Several equities research analysts recently weighed in on CBM shares. ValuEngine cut shares of Cambrex from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 9th. Zacks Investment Research cut shares of Cambrex from a “buy” rating to a “hold” rating in a research note on Tuesday, October 29th. Craig Hallum cut shares of Cambrex from a “buy” rating to a “hold” rating and set a $60.00 target price for the company. in a research note on Monday, August 12th. Finally, William Blair cut shares of Cambrex from an “outperform” rating to a “market perform” rating and set a $60.00 target price for the company. in a research note on Wednesday, August 7th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $54.83.
Cambrex Company Profile
Cambrex Corporation, a life sciences company, provides various products and services for the development and commercialization of new and generic therapeutics worldwide. Its products comprise active pharmaceutical ingredients and pharmaceutical intermediates that are used in the production of prescription and over-the-counter drug products, as well as finished dosage forms.
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