Iqvia downgraded to Hold from Buy at Jefferies

Jefferies downgraded Iqvia (IQV) to Hold from Buy with a price target of $242, down from $266. Biotech demand for the contract research originations “remains tepid” despite improved funding and large pharma “choppiness” continues, the analyst tells investors in a research note. The firm says a combination of slower bookings and burn rate likely keeps Iqvia’s 2025 growth below consensus. Also, Iqvia’s data business is facing increasing competition from Veeva (VEEV), as well as other players, adds Jefferies.