Goldman Sachs Starts Medidata Solutions (MDSO) at Sell
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Price: $92.22 --0%
Rating Summary:
5 Buy, 11 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
5 Buy, 11 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Goldman Sachs initiates coverage on Medidata Solutions (NASDAQ: MDSO) with a Sell rating and downside $20 price target.
The firm sees overall industry pressures and market share challenges.
Goldman sees a meaningful R&D spend decline to 2% growth through 2015E versus 9% from 2004-2010. In addition, competition is likely to increase, following the integration efforts of Oracle (Nasdaq: ORCL) and Phase Forward.
The firm also said "Outsourcing clinical trials to contract research organizations (CROs) continues to increase, which we believe may lead to share loss as about 25% of Medidata's incremental contracts are from CROs, while CROs are capturing 50%-60% of incremental trials."
For more ratings news on Medidata Solutions click here and for the rating history of Medidata Solutions click here.
Shares of Medidata Solutions closed at $23.70 yesterday.
The firm sees overall industry pressures and market share challenges.
Goldman sees a meaningful R&D spend decline to 2% growth through 2015E versus 9% from 2004-2010. In addition, competition is likely to increase, following the integration efforts of Oracle (Nasdaq: ORCL) and Phase Forward.
The firm also said "Outsourcing clinical trials to contract research organizations (CROs) continues to increase, which we believe may lead to share loss as about 25% of Medidata's incremental contracts are from CROs, while CROs are capturing 50%-60% of incremental trials."
For more ratings news on Medidata Solutions click here and for the rating history of Medidata Solutions click here.
Shares of Medidata Solutions closed at $23.70 yesterday.
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