Jefferies Releases a Buy Rating on Charles River Labs

By Carrie Williams

In a report released today, David Windley from Jefferies reiterated a Buy rating on Charles River Labs (NYSE: CRL), with a price target of $106. The company’s shares opened today at $88.83.

According to TipRanks.com, Windley is a top 100 analyst with an average return of 15.8% and a 74.8% success rate. Windley covers the Healthcare sector, focusing on stocks such as Quintiles Transnational, WellCare Health Plans, and PRA Health Sciences.

Charles River Labs has an analyst consensus of Moderate Buy, with a price target consensus of $94.75.

Based on Charles River Labs’ latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $467 million and quarterly net profit of $44.68 million. In comparison, last year the company earned revenue of $355 million and had a net profit of $37.14 million.

Based on the recent corporate insider activity of 76 insiders, corporate insider sentiment is negative on the stock. Last month, Davide Molho, the Corporate Executive VP of CRL sold 3,191 shares for a total of $286,241.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Charles River Laboratories International, Inc. is an early-stage contract research company, which provides essential products and services to help pharmaceutical and biotechnology companies, government agencies and academic institutions around the globe to accelerate their research and drug development efforts. It operates through the following business segments: Research Models and Services, Discovery and Safety Assessment, and Manufacturing Support. The Research Models and Services segment comprises of the production and sale of research models, and also offers services designed to support to clients use of research models in screening drug candidates. The Discovery and Safety Assessment segment offers discovery and safety assessment services, both regulated and non-regulated, in which it include both in vivo and in vitro studies, supporting laboratory services, and strategic preclinical consulting and program management to support product development. The Manufacturing Support segment offers endotoxin and microbial detection, avian vaccine services and biologics testing solutions. The company was founded by Henry L. Foster in 1947 and is headquartered in Wilmington, MA.