** Brokerage Leerink Partners starts coverage of contract research organization Medpace's MEDP.O shares with "market perform" rating and PT of $330
** Brokerage believes MEDP's growth has been affected by elevated cancellation rates and a slowdown in new clinical trial starts due to reduced biotech funding post-COVID
** Brokerage says the firm is well aligned with growing disease categories such as oncology, metabolic and cardiovascular, and its full-service outsourcing (FSO) helps smaller biotechs run efficient clinical trials
** FSO involves handling all aspects of a clinical trial that include initiating the study, analysis, monitoring of trial subjects, ensuring safety and interacting with regulatory bodies
** Brokerage says its PT reflects higher growth prospects and profitability compared with its peers such as IQVIA IQV.N and ICLR ICLR.O
** 4 out 10 brokerages rate the stock "buy" or higher, 6 "hold", median PT $350, according to LSEG data
** As of last close, MEDP stock down 21.5% in past 12 months
(Reporting by Padmanabhan Ananthan)
((Padmanabhan.Ananthan@thomsonreuters.com))
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