Veeva initiated with a Buy at BTIG

BTIG analyst David Larsen initiated coverage of Veeva Systems with a Buy rating and $240 price target. The analyst likes how Veeva’s cloud-based solutions are part of a “robust platform that has a range of clinical and commercial capabilities.” The company’s customer relationship management is specifically built for life sciences and is seen as the industry standard by companies within pharma and biotech, the analyst tells investors in a research note. The firm expects Veeva’s growth to ramp up as headwinds start to ease.