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Fly News Breaks for January 2, 2019
MDSO
Jan 2, 2019 | 08:00 EDT
As previously reported, Leerink analyst David Larsen started Medidata with a Market Perform Rating and a $70 price target. The analyst likes how the company is considered to be the premium solution with respect to clinical trial electronic data capture. But while the fundamentals of the industry and company are favorable, Larsen thinks there is significant risk to the stock. The overall market has been volatile which will pressure higher multiple stocks, and investor expectations for revenue growth are very high and any disappointment could result in a significant sell-off, he contents. Further, the analyst believes 95%-plus of biopharma already have electronic clinical solutions in place, and the market is becoming more competitive.
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