Catalent Analysts Raise Their Forecasts Following Acquisition News

On Monday, Catalent, Inc. CTLT announced it will be acquired by Novo Holdings.

Novo Holdings will acquire all outstanding shares of Catalent for $63.50 per share in cash.

Alessandro Maselli, President and Chief Executive Officer of Catalent said, "Over the past several years, Catalent has built a comprehensive end-to-end offering of services and capabilities to drive innovation in the healthcare system and improve patient outcomes. This transaction is a testament to our team’s hard work and dedication to this mission, and I am incredibly excited for this next step in our journey. We look forward to benefiting from Novo Holdings’ significant resources to accelerate investment in our business and enhance key offerings as we continue to offer premium development and manufacturing solutions for pharma and biotech customers."

Catalent shares jumped 9.7% to close at $59.82 on Monday.

These analysts made changes to their price targets on Catalent following acquisition news .

• UBS raised the price target on Catalent from $58 to $63.5. UBS analyst John Sourbeer downgraded the stock from Buy to Neutral.
• RBC Capital increased Catalent price target from $58 to $63.5. RBC Capital analyst Sean Dodge downgraded the stock from Outperform to Sector Perform.

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