The stock of PAREXEL International Corporation (NASDAQ:PRXL) gapped down by $3.54 today and has $52.94 target or 5.00% below today’s $55.73 share price. The 9 months technical chart setup indicates high risk for the $3.01 billion company. The gap down was reported on Nov, 12 by Barchart.com. If the $52.94 price target is reached, the company will be worth $150.50M less.
Gaps down are helpful for identifying a resistance level and to could also be used as a tradeable event. If traders are short the stock and it experiece gap down, then its usually advisable to hold the short for a bigger down move. Back-tests of such patterns show that two-thirds of the these patterns the stock performance worsens after the gap. The area gaps close 91% of the time, the breakaway gaps 1%, the continuation gaps 9% and the exhaustion gaps 64%. The stock decreased 7.85% or $4.75 during the last trading session, hitting $55.73. About 4.23M shares traded hands or 612.42% up from the average. PAREXEL International Corporation (NASDAQ:PRXL) has declined 6.70% since April 11, 2016 and is downtrending. It has underperformed by 12.84% the S&P500.
PAREXEL International Corporation (NASDAQ:PRXL) Ratings Coverage
Out of 10 analysts covering Parexel International (NASDAQ:PRXL), 2 rate it a “Buy”, 1 “Sell”, while 7 “Hold”. This means 20% are positive. Parexel International has been the topic of 20 analyst reports since August 7, 2015 according to StockzIntelligence Inc. The firm earned “Hold” rating on Friday, November 11 by SunTrust. Avondale downgraded the shares of PRXL in a report on Monday, January 25 to “Mkt Underperform” rating. As per Wednesday, January 6, the company rating was upgraded by Evercore. The rating was upgraded by Robert W. Baird to “Outperform” on Friday, October 9. Deutsche Bank maintained PAREXEL International Corporation (NASDAQ:PRXL) rating on Friday, August 7. Deutsche Bank has “Hold” rating and $69 price target. The rating was maintained by Credit Suisse on Friday, August 7 with “Outperform”. The stock of PAREXEL International Corporation (NASDAQ:PRXL) earned “Buy” rating by SunTrust on Monday, March 28. The stock has “Neutral” rating given by UBS on Tuesday, September 6. The stock of PAREXEL International Corporation (NASDAQ:PRXL) has “Outperform” rating given on Tuesday, June 21 by Credit Suisse. The company was reinitiated on Friday, August 14 by Credit Suisse.
According to Zacks Investment Research, “Parexel International Corporation is one of the largest biopharmaceutical outsourcing organizations in the world, providing a broad range of knowledge-based contract research, medical marketing and consulting services to the worldwide pharmaceutical, biotechnology and medical device industries. With a commitment to providing solutions that expedite time-to-market and peak market penetration, PAREXEL has developed significant expertise in clinical trials management, data management, biostatistical analysis, medical marketing, clinical pharmacology, regulatory and medical consulting, industry training and publishing and other drug development consulting services. Its information technology subsidiary, Perceptive Informatics, Inc., develops and offers a portfolio of innovative technology-based products and services that facilitate clinical drug development and are designed to decrease time to peak sales.”
Insitutional Activity: The institutional sentiment increased to 1.16 in Q2 2016. Its up 0.05, from 1.11 in 2016Q1. The ratio improved, as 31 funds sold all PAREXEL International Corporation shares owned while 96 reduced positions. 45 funds bought stakes while 102 increased positions. They now own 46.71 million shares or 2.30% less from 47.81 million shares in 2016Q1.
Moreover, Pnc Ser Grp Inc has 0.07% invested in PAREXEL International Corporation (NASDAQ:PRXL) for 909,175 shares. Ameritas Ptnrs Incorporated has 24,054 shares for 0.1% of their US portfolio. The Ontario – Canada-based Manufacturers Life Com The has invested 0.04% in PAREXEL International Corporation (NASDAQ:PRXL). Smith Asset Management Group Ltd Partnership holds 445 shares or 0% of its portfolio. Fifth Third Bancshares has 2,002 shares for 0% of their US portfolio. Axa reported 97,700 shares or 0.03% of all its holdings. State Street accumulated 1.73M shares or 0.01% of the stock. Dalton Greiner Hartman Maher And Commerce holds 238,738 shares or 0.93% of its portfolio. Aperio Gru Incorporated Limited Liability Corporation last reported 0% of its portfolio in the stock. Voya Investment Mngmt Ltd has 23,447 shares for 0% of their US portfolio. Susquehanna Grp Llp has invested 0% of its portfolio in PAREXEL International Corporation (NASDAQ:PRXL). Shell Asset Management last reported 0.02% of its portfolio in the stock. Blackrock Lc, a Delaware-based fund reported 81,558 shares. Stephens Inc Ar accumulated 285 shares or 0% of the stock. Kistler has invested 0.03% of its portfolio in PAREXEL International Corporation (NASDAQ:PRXL).
Insider Transactions: Since May 20, 2016, the stock had 0 buys, and 8 selling transactions for $2.24 million net activity. Another trade for 2,500 shares valued at $175,125 was sold by Saarony Gadi. 8,000 shares were sold by SCHNEIDER ULF I, worth $473,920 on Friday, May 20. 2,500 PAREXEL International Corporation (NASDAQ:PRXL) shares with value of $171,600 were sold by Schultz Joshua. Shares for $44,086 were sold by Holdener Eduard E.. 3,000 shares were sold by CALLOW A DANA JR, worth $180,120.
More important recent PAREXEL International Corporation (NASDAQ:PRXL) news were published by: Businesswire.com which released: “INVESTOR ALERT: Lundin Law PC Announces an Investigation of PAREXEL …” on November 11, 2016, also Reuters.com published article titled: “BRIEF-Parexel International Corp files for non-timely 10-Q”, Fool.com published: “PAREXEL International Corporation’s Q1 Report Flops, Shares Sink As Much As 13%” on October 27, 2016. More interesting news about PAREXEL International Corporation (NASDAQ:PRXL) was released by: Bizjournals.com and their article: “Parexel loses $160M in value after disclosing possible embezzlement” with publication date: September 01, 2016.
PRXL Company Profile
PAREXEL International Corporation (PAREXEL), incorporated on January 3, 1983, is a biopharmaceutical outsourcing services company. The Firm provides a range of expertise in clinical research, clinical logistics, medical communications, consulting, commercialization, and technology services and products to pharmaceutical, biotechnology and medical device industries. The Company’s divisions include Clinical Research Services (CRS), PAREXEL Consulting Services (PC) and PAREXEL Informatics (PI).
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