Certara (NASDAQ:CERT) Shares Gap Down to $15.08

Certara, Inc. (NASDAQ:CERT)’s share price gapped down before the market opened on Wednesday . The stock had previously closed at $15.08, but opened at $13.49. Certara shares last traded at $13.04, with a volume of 77,973 shares.

Analysts Set New Price Targets

CERT has been the subject of several recent research reports. JMP Securities reissued a “market perform” rating on shares of Certara in a research report on Wednesday, July 10th. Barclays lowered their target price on Certara from $18.00 to $16.00 and set an “equal weight” rating for the company in a report on Friday, June 28th. Finally, KeyCorp cut their target price on Certara from $23.00 to $20.00 and set an “overweight” rating for the company in a research report on Thursday, July 11th. Seven equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $19.44.

Certara Stock Performance

The firm’s 50 day simple moving average is $15.16 and its 200-day simple moving average is $16.55. The company has a debt-to-equity ratio of 0.27, a quick ratio of 3.26 and a current ratio of 3.26. The company has a market capitalization of $2.20 billion, a price-to-earnings ratio of -33.44, a P/E/G ratio of 5.39 and a beta of 1.52.

Certara (NASDAQ:CERT) last announced its earnings results on Tuesday, May 7th. The company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.01). Certara had a negative net margin of 17.02% and a positive return on equity of 4.08%. The firm had revenue of $96.65 million for the quarter, compared to analyst estimates of $94.48 million. Analysts expect that Certara, Inc. will post 0.28 EPS for the current year.

Institutional Trading of Certara

Several large investors have recently added to or reduced their stakes in CERT. Mubadala Investment Co PJSC acquired a new position in shares of Certara in the fourth quarter worth $169,135,000. Wasatch Advisors LP increased its holdings in shares of Certara by 23.4% in the first quarter. Wasatch Advisors LP now owns 4,924,845 shares of the company’s stock valued at $88,056,000 after purchasing an additional 932,598 shares in the last quarter. Geneva Capital Management LLC increased its holdings in shares of Certara by 29.0% in the fourth quarter. Geneva Capital Management LLC now owns 3,824,850 shares of the company’s stock valued at $67,279,000 after purchasing an additional 860,763 shares in the last quarter. Norges Bank acquired a new stake in shares of Certara in the fourth quarter valued at approximately $14,262,000. Finally, Massachusetts Financial Services Co. MA increased its holdings in shares of Certara by 22.5% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,585,155 shares of the company’s stock valued at $45,473,000 after purchasing an additional 475,081 shares in the last quarter. 73.96% of the stock is owned by institutional investors and hedge funds.

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.