Catalent (CTLT) has reported a Q1 loss and is lagging in revenue estimates which led Jefferies to reiterate a Hold rating. Investment firm, Olympiad Research LP has increased its holdings in the biotech company. Despite a Q1 earnings miss, the company's stock benefited from gross margin improvements. Also, CTLT has been upgraded to a Strong Buy. Major consumer groups have requested the FTC to halt a proposed deal between Novo Holdings and Catalent. The acquisition has also received further scrutiny from powerful political figures such as US Senator Warren. Van ECK Associates Corp has also increased its position in CTLT. Despite these challenges, Catalent CEO hopes to helm a contract drug manufacturer after Novo Holdings' buyout. Catalent has surpassed revenue, estimates, ahead of the deal closing with Novo Holdings. However, the US FTC seeks more information on the said deal. Furthermore, investors and the shareholders have approved the buyout by Novo Holdings. CTLT's earnings have missed by $0.16 and revenue also fell short of predictions. Yet, amidst all, Catalent has completed a $25 Million Expansion of its Clinical Supply Facility in Schorndorf, Germany.
Catalent CTLT News Analytics from Fri, 03 Mar 2023 08:00:00 GMT to Fri, 08 Nov 2024 20:26:15 GMT -
Rating -3
- Innovation 2
