Certara price target lowered to $13 from $18 at Baird

Baird lowered the firm’s price target on Certara (CERT) to $13 from $18 and keeps a Neutral rating on the shares. The firm views recent CRO reports noting downward adjustments in pharma spending toward the end of 3Q24 as increasing risks that Certara sees more muted 4Q24 seasonality and FY25 improvement.