Market Overview

UPDATE: ISI Group Upgrades PAREXEL on Improving Fundamentals Ahead of 3Q Earnings


In a report published Friday, ISI Group analyst Ross Muken upgraded the rating on PAREXEL International Corporation (NASDAQ: PRXL) from Neutral to Buy, and raised the price target from $52.50 to $57.00.

In the report, ISI Group noted, “As we approach 3Q earnings, dynamics in the CRO and biopharma markets cause us to be incrementally more positive on the universe, and specifically PAREXEL. Our view of the CROs is positively biased by (1) improved pipeline success rates at biopharma (after several years of contraction, NME approvals were up from 21 to 30 to 39 in 2010-2012, with 16 NMEs thus far in 2013); (2) a rebound in biotech funding (2Q'13 biotech funding up ~40% sequentially and ~70% y-o-y); and (3) continued vendor consolidation among sponsors(the 7 largest CROs have grown from ~35% of the market in 2004 to nearly 60% today). We believe these trends should benefit the large diversified late phase CROs with global presence and full-service offerings (far better suited for integrated strategic partnerships).”

PAREXEL International Corporation closed on Thursday at $49.68.

Latest Ratings for PRXL

May 2017UpgradesSellNeutral
May 2017UpgradesHoldOutperform
Feb 2017DowngradesOutperformNeutral

View More Analyst Ratings for PRXL
View the Latest Analyst Ratings

Posted-In: ISI Group Ross MukenAnalyst Color Upgrades Analyst Ratings


Related Articles (PRXL)

View Comments and Join the Discussion!

Latest Ratings

TORCCantor FitzgeraldDowngrades3.0
CIDMCanaccord GenuityMaintains1.5
TDGCanaccord GenuityMaintains620.0
DLPNCanaccord GenuityMaintains1.6
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Trading Daily
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at

UPDATE: ISI Group Downgrades Cepheid on Key Drivers Constraining Revenue Multiple

UPDATE: Deutsche Bank Downgrades HB Fuller on Best-in-Class Execution, Full Valuation