Certara (NASDAQ:CERT – Get Assessment) saw its price target reduced by Barclays investment analysts from $21.00 to $17.00 in a note to investors on Thursday, reports The Fly. Barclays’ target price indicates a potential upside of 21.86% from the stock’s previous close.
Other analysts have also published research reports on the company. Piper Sandler lowered its price target on Certara from $28.00 to $25.00 and set an “overweight” rating for the company in a Wednesday, August 10 report. Berenberg Bank began covering Certara in a report on Thursday, September 8. They set a “buy” rating and a target price of $23.00 for the business. Credit Suisse Group began covering Certara in a report on Wednesday August 24. They set an “outperform” rating and a target price of $22.00 for the company. Morgan Stanley lowered its target price on Certara from $24.00 to $20.00 and set an “equal weight” rating for the company in a Wednesday, August 24 report. Finally, SVB Leerink lowered its price target on Certara from $29.00 to $26.00 and set an “outperform” rating for the company in a Wednesday, August 10 report. One research analyst has rated the stock with a hold rating and six have assigned the stock a buy rating. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $23.43.
Certara shares down 0.6%
NASDAQ:CERT shares opened at $13.95 on Thursday. Certara has a 52-week minimum of $12.58 and a 52-week maximum of $45.48. The stock has a market capitalization of $2.23 billion, a P/E ratio of -232.50, a price-to-earnings growth ratio of 0.93 and a beta of 1.28. The company’s 50-day moving average is $16.82 and its 200-day moving average is $19.16. The company has a quick ratio of 3.51, a current ratio of 3.51 and a leverage ratio of 0.28.
Certara (NASDAQ:CERT – Get Rating) last reported its quarterly earnings data on Tuesday, August 9. The company reported earnings per share (EPS) of $0.09 for the quarter, missing the consensus estimate of $0.11 per ($0.02). Certara recorded a positive return on equity of 4.26% and a negative net margin of 3.14%. The company posted revenue of $82.00 million in the quarter, versus a consensus estimate of $85.46 million. During the same period last year, the company achieved EPS of $0.03. The company’s revenue for the quarter increased 17.0% compared to the same quarter last year. Sell-side analysts expect Certara to post an EPS of 0.27 for the current year.
In other news, insider Patrick F. Smith sold 10,000 shares in a trade on Tuesday, August 16. The stock was sold at an average price of $17.71, for a total transaction of $177,100.00. Following the completion of the sale, the insider now owns 78,490 shares of the company, valued at approximately $1,390,057.90. The sale was disclosed in an SEC filing, available on the SEC’s website. Separately, major shareholder Avatar Parent LP Eqt sold 6,004,418 shares of the company in a transaction on Tuesday, August 16. The stock was sold at an average price of $17.38, for a total value of $104,356,784.84. Following the completion of the transaction, the insider now owns 29,954,521 shares of the company, valued at approximately $520,609,574.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, accessible via this hyperlink. Additionally, insider Patrick F. Smith sold 10,000 shares of the company in a trade on Tuesday, August 16. The stock was sold at an average price of $17.71, for a total value of $177,100.00. Following the completion of the transaction, the insider now owns 78,490 shares of the company, valued at approximately $1,390,057.90. The disclosure of this sale can be found here. During the last quarter, insiders sold 6,196,893 shares of the company worth $107,705,300. Insiders hold 4.02% of the shares of the company.
Institutional investors weigh in on Certara
Hedge funds and other institutional investors have recently increased or reduced their stakes in the stock. First Horizon Advisors Inc. increased its position in Certara by 9,193.8% during the second quarter. First Horizon Advisors Inc. now owns 1,487 shares of the company worth $32,000 after purchasing an additional 1,471 shares during the period. Benjamin Edwards Inc. increased its position in Certara by 9,338.1% during the 1st quarter. Benjamin Edwards Inc. now owns 1,982 shares of the company worth $43,000 after purchasing an additional 1,961 shares during the period. Hardy Reed LLC acquired a new stake in Certara during Q1 valued at approximately $89,000. Captrust Financial Advisors increased its position in Certara by 135.8% during the first quarter. Captrust Financial Advisors now owns 4,628 shares of the company worth $99,000 after purchasing an additional 2,665 shares during the period. Finally, MetLife Investment Management LLC acquired a new equity stake in Certara during Q1 valued at approximately $111,000. 77.42% of the shares are held by institutional investors and hedge funds.
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Certara, Inc provides software products and technology services to customers for biosimulation in drug discovery, preclinical and clinical research, regulatory submissions and market access. It brings medicines to patients using biosimulation software, technologies and services to transform drug discovery and development.
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