Parexel was Downgraded to a Hold Rating at Evercore ISI

By Carrie Williams

In a report released today, Ross Muken from Evercore ISI downgraded Parexel (NASDAQ: PRXL) to Hold. The company’s shares opened today at $83.92, close to its 52-week high of $87.25.

According to TipRanks.com, Muken is a 5-star analyst with an average return of 21.8% and a 80.0% success rate. Muken covers the Services sector, focusing on stocks such as Walgreens Boots Alliance, Quintiles Transnational, and Charles River Labs.

Currently, the analyst consensus on Parexel is Moderate Buy and the average price target is $77.75, representing a -7.4% downside.

In a report issued on June 6, Credit Suisse also maintained a Hold rating on the stock with a $83 price target.

Parexel’s market cap is currently $4.23B and has a P/E ratio of 36.65. The company has a book value ratio of 7.4947.

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.

PAREXEL International Corp. engages in the provision of clinical research, medical communications, consulting, commercialization and informatics, and technology services to pharmaceutical, biotechnology, and medical device industries. It operates through the following segments: Clinical Research Services, PAREXEL Consulting Services and PAREXEL Informatics. The Clinical Research Services segment offers clinical trials management, observational studies, patient/disease registries and post-marketing surveillance, date management and biostatistics, epidemiology and health economics/outcomes research, clinical logistics, pharmacovigilance, clinical pharmacology, and related medical affairs, patient recruitment and investigator site services. The PAREXEL Consulting Services segment provides technical expertise and advice in drug development, regulatory affairs, and good manufacturing practice compliance consulting. The PAREXEL Informatics segment provides information technology solutions designed to improve client’s product development processes. The company was founded by Josef H. von Rickenbach and Anne B. Sayigh in 1983 and is headquartered in Waltham, MA.