Cambrex Shares Touch New Record

Cambrex shares rose to a new record on Thursday after the provider of products and services for the development and commercialization of generic therapeutics reported Q1 adjusted income of $0.68 per share compared to $0.50 a year ago and well above the $0.48 average estimate from analysts polled by Capital IQ.

CBM was 2% higher at $57.48 recently, trading in a new 52-week range between $38.30 and $62.95. Revenue rose to $105 million from $94.7 million, exceeding the $99.1 million estimate. For 2017, Cambrex said it expects net revenue to increase between 7% and 11% and adjusted earnings are seen between $2.94 and $3.06, straddling the $3.01 estimate.

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