Parexel Receives a New Rating from Top Analyst

By Jason Carr

In a report released yesterday, David Windley from Jefferies reiterated a Hold rating on Parexel (NASDAQ: PRXL), with a price target of $88.10. The company’s shares opened today at $87.25, close to its 52-week high of $87.45.

According to TipRanks.com, Windley is a top 25 analyst with an average return of 19.0% and a 79.8% success rate. Windley covers the Services sector, focusing on stocks such as Quintiles Transnational, WellCare Health Plans, and INC Research Holdings.

Currently, the analyst consensus on Parexel is Hold and the average price target is $74.67, representing a -14.4% downside.

In a report released yesterday, Evercore ISI also downgraded the stock to Hold.

Based on Parexel’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $607 million and quarterly net profit of $17.8 million. In comparison, last year the company earned revenue of $613 million and had a net profit of $47.9 million.

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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.