Charles River Laboratories (CRL) is Upgraded by Barclays to Equal Weight, Raises Price Target to $ 77

Charles River Laboratories (CRL) was Upgraded by Barclays to ” Equal Weight” according to the research note released today. The brokerage firm has raised the Price Target to $ 77 from a previous price target of $65 . Earlier the firm had a rating of “Underweight ” on the company shares. Barclays advised their investors in a research report released on Nov 30, 2016.

Many Wall Street Analysts have commented on Charles River Laboratories. Shares were Downgraded by UBS on Sep 6, 2016 to ” Sell” and Lowered the Price Target to $ 78 from a previous price target of $83 .

On the company’s financial health, Charles River Laboratories reported $1.18 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Nov 2, 2016. Analyst had a consensus of $1.13. The company had revenue of $425.70 million for the quarter, compared to analysts expectations of $433.98 million. The company’s revenue was up 21.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.03 EPS.

Charles River Laboratories (CRL) witnessed a volatile trading activity on Tuesday , and eventually ended flat at 0.00% or 0 points without letting the bulls or bears take much advantage. The trading began at $71.49 and reached the intraday high at $71.86. The bulls started the profit booking and pushed the shares to intraday low of $71.27. The trading session was marked by a volume range of 2,95,068 shares exchanging hands. The 52-week high of the shares is $89.18 and the 52-week low is $65.7. The market cap of the company stands at $3,387 M and there are 4,73,28,587 shares in public circulation.

In a different news, on Nov 29, 2016, C Richard Reese (director) sold 4,539 shares at $71.93 per share price. According to the SEC, on Sep 1, 2016, Davide Molho (Corporate Executive VP) sold 7,877 shares at $84.11 per share price. On Aug 9, 2016, James C Foster (Chairman, President and CEO) sold 3,830 shares at $86.92 per share price, according to the Form-4 filing with the securities and exchange commission.

Charles River Laboratories International Inc. is a full service early stage contract research company. The Company offers research models for the research and development of new drugs devices and therapies. It develops a portfolio of discovery and safety assessment services both Good Laboratory Practice (GLP) and non-GLP that support the clients from target identification through preclinical development. The Company operates through three segments: Research Models and Services (RMS) which supplies research models to the drug development industry; Discovery and Safety Assessment (DSA) which provides services that enables the clients to outsource their drug discovery research critical regulatory-required safety assessment testing and related drug discovery and development activities and Manufacturing Support (Manufacturing) which is involved in the production and release of products manufactured by the clients.

Charles River Laboratories

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