Certara price target lowered to $24 from $27 at BofA

BofA lowered the firm’s price target on Certara to $24 from $27 and keeps a Buy rating on the shares. Certara reported Q2 revenues below Street estimates, and guidance was cut in light of more cautious spending by biotech customers in Q2 and persistent headwinds in Regulatory Services, the analyst tells investors in a research note. While management had previously indicated some softness in markets, the guidance cut was more significant than anticipated, BofA says.