Why Catalent Stock Was a Disaster Today
The struggles of contract drugmaker (NYSE: CTLT) continued on Monday, leading to a big sell-off in the company's stock. Investors were heavily discouraged by their company's latest update, and in response traded the shares down by almost 26% on the day.
That morning, Catalent divulged that it is delaying the publication of its third quarter of fiscal 2023 results, and cancelling the planned conference call that would have accompanied it. Both were slated to take place the following day (Tuesday, May 9).
In its press release on the matter, Catalent said that the delay stems from its discovery of certain noncash adjustments connected with its operations in Bloomington, Indiana. It added that it needs more time to review these and that it will file its quarterly report with the Securities and Exchange Commission (SEC) next Monday, May 15.
Source Fool.com
Catalent Inc. Stock
The community is currently still undecided about Catalent Inc. with 1 Buy predictions and 0 Sell predictions.
As a result the target price of 55 € shows a slightly positive potential of 2.02% compared to the current price of 53.91 € for Catalent Inc..
