Charles River Laboratories International (CRL) has undergone significant changes as per recent
market reports. The company's stock was
elevated to “Buy” by StockNews.com but had a
decrease of 14% due to 'bleaker' expectations for 2024 amidst reduced demand for drug development services. This led to JP Morgan downgrading the stock. Nevertheless, CRL’s stock holdings saw a rise due to acquisitions by
Cetera Investment Advisers and
SG Americas Securities LLC. Q2 financials showed a beat on estimates, however their 2024 outlook was lowered. Several financial institutions, including
Barclays,
UBS Group,
Evercore ISI and
The Goldman Sachs Group, trimmed CRL’s target price. Furthermore, amid concerns over demand,
RW Baird and
JPMorgan Chase & Co. downgraded CRL to 'Neutral'. In response, a
share buyback program was initiated by CRL’s board of directors. The company noted a strategic partnership with Autobahn Labs to focus on academic drug discovery, and also announced a lentiviral vector manufacturing collaboration with the Gates Institute at University of Colorado. Amid these developments, Charles River Laboratories remains a favored investment as it continues to innovate in the bio-tech space.
Charles River Laboratories International CRL News Analytics from Wed, 24 Jan 2024 08:00:00 GMT to Sun, 11 Aug 2024 14:59:14 GMT -
Rating 4
- Innovation 6
- Information 7
- Rumor -3
