KeyCorp Issues Positive Forecast for Certara (NASDAQ:CERT) Stock Price

Key Points

• KeyCorp raised Certara’s price target from $9 to $12 and maintained an “overweight” rating, implying 24.22% upside from the stock’s reported price.
• Analyst opinion remains mixed: Certara has a consensus “Hold” rating and an average price target of $9.18, despite recent upgrades from TD Cowen and Barclays.
• Certara’s latest quarterly results missed expectations, with $0.08 EPS versus $0.09 expected and revenue of $93.27 million versus $98.09 million expected; institutional investors own nearly 74% of the stock.

Certara (NASDAQ:CERT - Get Free Report) had its price target increased by research analysts at KeyCorp from $9.00 to $12.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has an "overweight" rating on the stock. KeyCorp's target price would suggest a potential upside of 24.22% from the company's current price.

CERT has been the topic of several other reports. UBS Group reaffirmed a "neutral" rating and issued a $10.00 price objective on shares of Certara in a research note on Wednesday, September 30th. TD Cowen lifted their price target on shares of Certara from $9.00 to $11.00 and gave the company a "buy" rating in a research report on Tuesday. Barclays boosted their price objective on shares of Certara from $7.50 to $9.00 and gave the stock an "equal weight" rating in a research note on Wednesday, October 7th. Finally, Weiss Ratings lowered shares of Certara from a "sell (d)" rating to a "sell (d-)" rating in a research report on Thursday, October 8th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, six have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $9.18.

Certara Stock Up 3.2%

Certara stock opened at $9.66 on Friday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.55 and a current ratio of 2.55. The firm has a market capitalization of $1.47 billion, a price-to-earnings ratio of -21.47 and a beta of 1.42. Certara has a fifty-two week low of $4.45 and a fifty-two week high of $12.94. The stock's fifty day moving average is $8.52 and its two-hundred day moving average is $6.95.

Certara (NASDAQ:CERT - Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.01). The company had revenue of $93.27 million for the quarter, compared to analysts' expectations of $98.09 million. Certara had a positive return on equity of 3.86% and a negative net margin of 16.75%. The business's quarterly revenue was down 10.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.07 EPS. Analysts predict that Certara will post 0.22 EPS for the current fiscal year.

Hedge Funds Weigh In On Certara

Several large investors have recently modified their holdings of the stock. BlackRock Inc. acquired a new position in Certara in the second quarter valued at approximately $123,259,000. Haveli Investment Management LLC bought a new stake in Certara in the second quarter valued at $48,470,000. Jefferies Financial Group Inc. bought a new stake in Certara in the second quarter valued at $46,446,000. Bank of America Corp DE bought a new stake in Certara in the second quarter valued at $11,780,000. Finally, Tejara Capital Ltd acquired a new position in shares of Certara during the second quarter valued at $8,467,000. Institutional investors own 73.96% of the company's stock.

Certara Company Profile

Certara, Inc NASDAQ: CERT provides software and technology-enabled services for the biopharmaceutical industry. The company helps drug developers use regulatory science, data analysis, and modeling and simulation to support decisions throughout the research, development, and commercialization lifecycle.

Its offerings include software for pharmacokinetic and pharmacodynamic modeling, clinical trial design, patient and disease modeling, regulatory submissions, and real-world data analysis.

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