Emergent BioSolutions Inc. (EBS - Free Report) announced that its board of directors has unanimously appointed Robert G. Kramer, Sr. as the company’s new president and chief executive officer (CEO) effective Apr 1, 2019. He will succeed Daniel J. Abdun-Nabi, the current CEO, who has decided to retire and also step down as a board member.
Notably, Nabi has held office as the company’s CEO since April 2012. During his tenure, Emergent evolved from a primarily biodefense company to a global, diversified life sciences one. Under his leadership, Emergent expanded its business to address some of severe public health issues in the United States and across other countries. The company also made some strategic investments in growth-driving projects, backed by some strong financial performances. The company’s revenue stream also grew significantly under his term.
Emergent completed two acquisitions in October 2018 under Nabi’s guidance.
Firstly, the company’s buyout of Adapt Pharma will add the latter’s Narcan nasal spray to its portfolio, thereby expanding footprint in the public health threats market. Secondly, the consolidation of specialty vaccine company, PaxVax, will add a couple of FDA approved vaccines to Emergent’s portfolio.
Meanwhile, Kramer evidently comes in with a baggage of vast experience, having joined Emergent in 1999 as the chief financial officer. Most recently, he served as the president and chief operating officer of the company. Building on the positive trend set by Nabi, management believes that the new CEO will be able to continue with the company’s momentum to strengthen its portfolio, generate shareholder value and fulfill its mission, which is to protect and enhance life.
Shares of Emergent have rallied 23.4% in the past year against the industry’s decline of 18.9%.
Only time will tell us if Kramer will be able to live up to investors’ expectations as they pin high hopes on him for achieving greater success with Emergent.
Zacks Rank & Stocks to Consider
Emergent currently carries a Zacks Rank #3 (Hold). Better-ranked stocks in the healthcare sector include Genomic Health, Inc. (GHDX - Free Report) , Vanda Pharmaceuticals Inc. (VNDA - Free Report) and Inovio Pharmaceuticals, Inc. (INO - Free Report) , all sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Genomic Health’s earnings estimates have been revised 35.2% upward for 2019 over the past 90 days. The stock has soared 87.8% in the past year.
Vanda’s earnings estimates have moved 11.1% north for 2019 over the past 90 days. The stock has skyrocketed 94.7% in a year.
Inovio’s loss per share estimates has been narrowed 2.8% for 2019 in the last 90 days. The stock has gained 6.5% in the past year.
3 Medical Stocks to Buy Now
The greatest discovery in this century of biology is now at the flashpoint between theory and realization. Billions of dollars in research have poured into it. Companies are already generating revenue, and cures for a variety of deadly diseases are in the pipeline.
So are big potential profits for early investors. Zacks has released an updated Special Report that explains this breakthrough and names the best 3 stocks to ride it.
See them today for free >>