Zacks Investment Research upgraded shares of China Biologic Products Inc. (NASDAQ:CBPO) from a hold rating to a buy rating in a research note published on Monday morning. They currently have $138.00 target price on the biopharmaceutical company’s stock.
According to Zacks, “China Biologic Products, Inc., through its indirect majority-owned subsidiary, is principally engaged in the research, development, production, manufacturing and sale of plasma-based biopharmaceutical products to hospitals and other health care facilities in China. Its subsidiary, Shandong Taibang Biological Products Co. Ltd., operates from its manufacturing facility located in Taian City, Shandong Province. The Company’s principal products include its approved human albumin and immunoglobulin products. These human albumin products are mainly used to increase blood volume and its immunoglobulin products are used for the treatment and prevention of diseases. “
Several other brokerages have also recently weighed in on CBPO. Jefferies Group upped their price objective on shares of China Biologic Products from $136.00 to $155.00 and gave the stock a buy rating in a research note on Friday, August 5th. Credit Suisse Group AG raised shares of China Biologic Products from a neutral rating to an outperform rating in a research note on Tuesday, July 5th.
China Biologic Products (NASDAQ:CBPO) opened at 118.63 on Monday. China Biologic Products has a 52-week low of $94.53 and a 52-week high of $144.29. The stock has a market capitalization of $3.19 billion, a PE ratio of 34.21 and a beta of 1.55. The firm’s 50-day moving average is $119.76 and its 200 day moving average is $117.29.
China Biologic Products (NASDAQ:CBPO) last issued its quarterly earnings data on Thursday, August 4th. The biopharmaceutical company reported $1.26 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.16 by $0.10. The firm had revenue of $91.40 million for the quarter, compared to analysts’ expectations of $87.60 million. China Biologic Products had a net margin of 29.66% and a return on equity of 19.65%. The company’s quarterly revenue was up 15.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.06 earnings per share. On average, equities analysts forecast that China Biologic Products will post $4.33 earnings per share for the current year.
In other news, insider Zhijing Cbpo Liu sold 1,968 shares of the stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $124.32, for a total transaction of $244,661.76. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Wenfang Liu sold 2,900 shares of the stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $124.32, for a total transaction of $360,528.00. Following the sale, the director now directly owns 3,383 shares in the company, valued at $420,574.56. The disclosure for this sale can be found here. Insiders own 2.68% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in CBPO. Capital Research Global Investors boosted its stake in China Biologic Products by 42.5% in the second quarter. Capital Research Global Investors now owns 3,031,654 shares of the biopharmaceutical company’s stock valued at $322,325,000 after buying an additional 904,377 shares during the period. Capital World Investors boosted its stake in China Biologic Products by 0.7% in the second quarter. Capital World Investors now owns 2,888,482 shares of the biopharmaceutical company’s stock valued at $307,103,000 after buying an additional 21,159 shares during the period. Baillie Gifford & Co. bought a new stake in China Biologic Products during the second quarter valued at approximately $155,307,000. FMR LLC boosted its stake in China Biologic Products by 3.3% in the second quarter. FMR LLC now owns 1,415,606 shares of the biopharmaceutical company’s stock valued at $150,507,000 after buying an additional 44,575 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in China Biologic Products by 7.3% in the second quarter. Bank of New York Mellon Corp now owns 507,518 shares of the biopharmaceutical company’s stock valued at $53,959,000 after buying an additional 34,308 shares during the period. 71.71% of the stock is currently owned by institutional investors and hedge funds.
About China Biologic Products
China Biologic Products, Inc (China Biologic) is a biopharmaceutical company. The Company is principally engaged in the research, development, manufacturing and sales of human plasma-based biopharmaceutical products in China. It operates in the manufacture and sales of human plasma products segment. It has a product portfolio with over 20 various dosage forms of plasma products and other biopharmaceutical products across over nine categories.