China Biologic Products, Inc. (NASDAQ:CBPO) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday.
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 research firms have also issued reports on CBPO. BidaskClub lowered shares of China Biologic Products from a “sell” rating to a “strong sell” rating in a report on Saturday, August 5th. Jefferies Group LLC reissued a “buy” rating on shares of China Biologic Products in a report on Friday, August 4th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. China Biologic Products presently has a consensus rating of “Hold” and a consensus price target of $137.50.
China Biologic Products (NASDAQ CBPO) traded down $1.10 during trading on Wednesday, reaching $86.58. 301,900 shares of the company traded hands, compared to its average volume of 246,925. The stock has a market cap of $2,420.79, a price-to-earnings ratio of 19.53, a price-to-earnings-growth ratio of 1.42 and a beta of 1.71. China Biologic Products has a one year low of $72.21 and a one year high of $123.43.
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Institutional investors and hedge funds have recently made changes to their positions in the business. Legal & General Group Plc grew its holdings in China Biologic Products by 41.2% during the 3rd quarter. Legal & General Group Plc now owns 2,966 shares of the biopharmaceutical company’s stock valued at $274,000 after buying an additional 865 shares in the last quarter. Cubist Systematic Strategies LLC grew its holdings in China Biologic Products by 73.2% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 4,617 shares of the biopharmaceutical company’s stock valued at $426,000 after buying an additional 1,952 shares in the last quarter. State of New Jersey Common Pension Fund D purchased a new stake in China Biologic Products during the 3rd quarter valued at approximately $439,000. Jennison Associates LLC grew its holdings in China Biologic Products by 0.8% during the 2nd quarter. Jennison Associates LLC now owns 5,775 shares of the biopharmaceutical company’s stock valued at $653,000 after buying an additional 44 shares in the last quarter. Finally, Strs Ohio purchased a new stake in China Biologic Products during the 3rd quarter valued at approximately $664,000. 73.58% of the stock is owned by institutional investors and hedge funds.
About China Biologic Products
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