Brief:
JMP Group LLC (NYSE: JMP) stock is on the rise since it has reported its fourth-quarter earnings and fiscal results of 2020. The company has recorded a tremendous increase in its revenue of $53.62 million which is more than double in comparison to the same time last year. The EPS surged to 42 cents which is far more than 1 cent in the previous year.
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Recent & Past Developments
JMP has earned $0.68 per share on an operating basis in addition to strong advisory and capital market revenues. The company has also taken steps to monetize corporate investments and to wean itself from long-term debt. Earlier this month JPM redeemed $10 million of its 7.25% senior notes due in 2027.
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Fedora Baloiuhave recently joined JMP Securities as a managing director and co-head of biopharma corporate finance. Silvan Tuerkcan and Gobind Singh have now taken the roles of senior equity research analysts focused on the biotechnology sector.
Conclusion
The addition of three new roles in the healthcare group will act as immediate contributors. Higher Management thinks that Fedora would bring longstanding relationships and worthwhile for health care capital markets while Silvan and Gobind would reach the company’s biotech research to the next level.
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The company favorite among the investors due to its exceptional growth in 2020. The company’s management is optimistic to gain more momentum in the upcoming year and stabilizing the U.S economy would further support the progress.