杰富瑞以市场前景低迷为由将艾昆威评级下调至持有

2024-07-25 03:22

Jefferies has downgraded IQVIA (NYSE:IQV) to hold, citing lower-than-expected growth in the clinical research organization, or CRO, market.
The investment bank has lowered its CRO CAGR market growth estimate over the next five years to 6.5% from 7.2%, “due primarily to the subdued outlook for SMID biotech R&D.”
Jefferies sees Phase 2b/3 growing at 7.5%/year, with Phase 4 at 7%/year as biopharmas prioritize late-stage R&D. It noted that early-stage R&D is “typically cut first when funding/budgets are under pressure and slower to come back when the macro improves.” It sees Phase 1/2a growing at 5.8%/year and preclinical at 5.7%/year through 2028.
The investment bank lowered its price target to $242 for the stock.

More on IQVIA