Certara (NASDAQ:CERT) Trading Down 4.8% on Analyst Downgrade

Shares of Certara, Inc. (NASDAQ:CERT) fell 4.8% on Tuesday after KeyCorp lowered their price target on the stock from $18.00 to $15.00. KeyCorp currently has an overweight rating on the stock. Certara traded as low as $10.65 and last traded at $10.60. 207,751 shares changed hands during mid-day trading, a decline of 86% from the average session volume of 1,474,408 shares. The stock had previously closed at $11.14.

Several other brokerages have also recently weighed in on CERT. Barclays raised shares of Certara from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $11.00 to $14.00 in a research report on Thursday, May 8th. JMP Securities restated a “market perform” rating on shares of Certara in a report on Tuesday, May 6th. Morgan Stanley assumed coverage on Certara in a report on Thursday, July 3rd. They issued an “equal weight” rating and a $16.00 price target on the stock. Finally, Robert W. Baird upped their price objective on Certara from $9.00 to $13.00 and gave the stock a “neutral” rating in a research note on Friday, April 11th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $15.29.

Hedge Funds Weigh In On Certara

Large investors have recently made changes to their positions in the business. Public Employees Retirement System of Ohio increased its position in Certara by 9.2% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 200,068 shares of the company’s stock valued at $2,341,000 after buying an additional 16,779 shares in the last quarter. AdvisorNet Financial Inc purchased a new stake in shares of Certara during the second quarter worth about $25,000. Harbor Capital Advisors Inc. increased its holdings in shares of Certara by 41.3% during the second quarter. Harbor Capital Advisors Inc. now owns 28,670 shares of the company’s stock valued at $335,000 after acquiring an additional 8,376 shares in the last quarter. Jane Street Group LLC boosted its stake in Certara by 17.1% in the 1st quarter. Jane Street Group LLC now owns 277,054 shares of the company’s stock worth $2,743,000 after purchasing an additional 40,463 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Certara by 13.6% during 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 worth $2,965,000 after purchasing an additional 35,954 shares during the last quarter. 73.96% of the stock is owned by institutional investors and hedge funds.

Certara Price Performance

The stock’s 50 day simple moving average is $11.37 and its 200-day simple moving average is $11.87. The firm has a market cap of $1.69 billion, a price-to-earnings ratio of -520.50 and a beta of 1.43. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.78 and a current ratio of 2.78.

Certara (NASDAQ:CERT) last issued its earnings results on Monday, May 5th. The company reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.04. The company had revenue of $106.00 million during the quarter, compared to analyst estimates of $104.44 million. Certara had a positive return on equity of 5.05% and a negative net margin of 0.67%. The firm’s quarterly revenue was up 9.7% on a year-over-year basis. During the same quarter last year, the business posted $0.10 EPS. Equities research analysts anticipate that Certara, Inc. will post 0.28 EPS for the current fiscal year.

About Certara

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.