Certara (NASDAQ:CERT) Shares Down 7.1% - Here's Why

Certara, Inc. (NASDAQ:CERT - Get Free Report) shares dropped 7.1% on Thursday . The company traded as low as $11.03 and last traded at $11.31. Approximately 243,047 shares changed hands during trading, a decline of 82% from the average daily volume of 1,364,727 shares. The stock had previously closed at $12.18.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on CERT. JMP Securities reaffirmed a "market perform" rating on shares of Certara in a research note on Tuesday, May 6th. TD Cowen initiated coverage on Certara in a research report on Thursday, February 27th. They set a "buy" rating and a $16.00 target price on the stock. Stephens reissued an "overweight" rating and issued a $17.00 price target on shares of Certara in a report on Thursday, February 27th. Barclays upgraded Certara from an "equal weight" rating to an "overweight" rating and raised their price objective for the company from $11.00 to $14.00 in a research note on Thursday, May 8th. Finally, KeyCorp lifted their price objective on Certara from $15.00 to $18.00 and gave the stock an "overweight" rating in a report on Wednesday, April 16th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $15.67.

Certara Stock Performance

The company has a debt-to-equity ratio of 0.28, a current ratio of 2.86 and a quick ratio of 2.86. The stock has a market capitalization of $1.79 billion, a P/E ratio of -55.05, a price-to-earnings-growth ratio of 9.29 and a beta of 1.44. The company has a fifty day moving average of $12.22 and a two-hundred day moving average of $11.88.

Certara (NASDAQ:CERT - Get Free Report) last issued its quarterly earnings results on Monday, May 5th. The company reported $0.14 earnings per share for the quarter, beating analysts' consensus estimates of $0.10 by $0.04. The business had revenue of $106.00 million during the quarter, compared to the consensus estimate of $104.44 million. Certara had a positive return on equity of 3.43% and a negative net margin of 8.34%. The business's quarterly revenue was up 9.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.10 EPS. On average, equities analysts anticipate that Certara, Inc. will post 0.28 EPS for the current year.

Institutional Trading of Certara

A number of institutional investors and hedge funds have recently modified their holdings of the business. Jane Street Group LLC raised its stake in Certara by 17.1% during the first quarter. Jane Street Group LLC now owns 277,054 shares of the company's stock worth $2,743,000 after acquiring an additional 40,463 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Certara by 13.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 299,528 shares of the company's stock valued at $2,965,000 after acquiring an additional 35,954 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of Certara by 65.6% during the first quarter. Goldman Sachs Group Inc. now owns 228,996 shares of the company's stock valued at $2,267,000 after purchasing an additional 90,724 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Certara in the 1st quarter worth approximately $297,000. Finally, Select Equity Group L.P. boosted its stake in Certara by 534.5% during the 1st quarter. Select Equity Group L.P. now owns 1,094,495 shares of the company's stock valued at $10,836,000 after purchasing an additional 922,007 shares in the last quarter. 73.96% of the stock is owned by institutional investors and hedge funds.

Certara Company Profile

Certara, Inc, together with its subsidiaries, provides software products and technology-enabled services to customers for biosimulation in drug discovery, preclinical and clinical research, regulatory submissions, and market access in the United States and internationally. It offers solutions for model-informed drug development, as well as biosimulation solution used to predict both pharmacokinetics and pharmacodynamics.