Why Catalent Stock Flopped Today
It seems (NYSE: CTLT) was apparently the reason why a key drug was refused approval by the Food and Drug Administration (FDA).
According to a media report from a leading financial news agency, this is what likely happened. On this disquieting development, investors traded out of the company's stock on Wednesday. It ended the day more than 3% lower, while the bellwether S 500 index more or less traded sideways.
That morning, Bloomberg published an article stating that difficulties at a Catalent factory were the sole reason it denied its approval. The party applying for it was biotech Regeneron Pharmaceuticals (NASDAQ: REGN), and the drug is a stronger formulation of its previously approved Eylea. As its brand name implies, Eylea's main indication is for an eye disorder, in this case wet macular degeneration.
Source Fool.com
Catalent Inc. Stock
With 0 Sell predictions and 1 Buy predictions the community sentiment towards the Catalent Inc. stock is not clear.
With a target price of 55 € there is a slightly positive potential of 1.95% for Catalent Inc. compared to the current price of 53.95 €.
