Why Certara's Shares Rose 37.7% This Week
Certara (NASDAQ: CERT), which provides software and technology to help pharmaceutical companies and researchers accelerate drug development, saw its shares rise 37.7% this week. The stock closed last Friday at $10.65 a share and then opened on Monday sharply higher at $12.02. It hit its weekly high at $15.38 on Friday, before falling a bit to close the week at $14.65. The stock has a 52-week low of $10.60 and a 52-week high of $40.65 but is still down more than 48% so far this year.
Certara picked a good week to have a strong earnings report. The company announced its third-quarter earnings on Monday, saying it had quarterly revenue of $84.7 million, up 15% year over year, and net income of $3.9 million, against a loss of $1.8 million in the same period last year. Earnings per share (EPS) was $0.02 compared to an EPS loss of $0.01 in the year-ago quarter.
The company also reiterated full-year guidance, saying it expected full-year revenue in a range of $325 million to $335 million, compared to $286.1 million last year, and adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) of $112 million to $117 million. Last year, it had adjusted EBITDA of $103.7 million.
Source Fool.com
