2023-04-25 17:11:31 ET
The hits just keep coming for Catalent (NYSE: CTLT) stock, and not in a good way. In line with a recent trend, the contract drug manufacturer's shares suffered a notable fall on Tuesday, declining by almost 6% in price. That wasn't altogether surprising, given that the stock received a fresh price target cut from an analyst.
Bank of America prognosticator Derik de Bruin is now officially more bearish on Catalent's future.
The prognosticator made a deep slice to his target on the niche healthcare company's shares, whacking it down to $49 per share from the previous $78. He maintained his neutral recommendation on the stock as he did so.
For further details see:
Why Catalent Stock Tumbled by Nearly 6% on Tuesday