Certara, Inc. (CERT) experienced a sharp decline of 5.04% in its stock price on November 7, 2024, as the company grappled with challenges in its regulatory services segment and analysts revised their ratings and price targets.
The drop in Certara's stock followed the company's Q3 2024 earnings call, during which it reported strong revenue growth of 11% year-over-year, driven by robust performance in its biosimulation software and services. However, the regulatory services market proved more challenging than expected, leading to a modest revision in Certara's 2024 guidance.
Analysts from JMP Securities and Barclays maintained their "Hold" ratings on CERT stock, with Barclays lowering its price target from $14 to $12, potentially impacting investor sentiment. The company acknowledged a divergence in growth profiles between its regulatory services and core biosimulation businesses, with the latter showing stronger performance.
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