What To Know About JP Morgan's Downgrade of Catalent

JP Morgan downgraded its rating of Catalent CTLT to Neutral with a price target of $45.00, changing its price target from $90.00 to $45.00.

Shares of Catalent are trading up 3.34% over the last 24 hours, at $38.41 per share.

A move to $45.00 would account for a 17.16% increase from the current share price.

About Catalent

Catalent is a contract development and manufacturing organization, or CDMO. It operates under four segments: biologics, softgel and oral technologies, oral and specialty delivery, and clinical supply services. Catalent derives its revenues primarily from long-term supply agreements with pharmaceutical customers. The company provides a range of development and manufacturing solutions for drugs, protein-based biologics, cell and gene therapies, and consumer health products throughout the entire life cycle of a product from the drug development process to commercial supply. Catalent has over 50 facilities across four continents.

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This article was generated by Benzinga's automated content engine and reviewed by an editor.