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Charles River Laboratories International, Inc. CRL and CEBINA GmbH (Central European Biotech Incubator and Accelerator) have formed a strategic alliance under the DanubeNeuro acceleration program — an initiative focused on advancing groundbreaking academic research projects in the field of neurodegeneration, dementia and aging. The company’s extensive experience in neurotherapeutics will assist CEBINA in selecting and developing new product candidates.
Predicting CRL Stock’s Movement Following the Announcement
After the news release, shares of CRL rose 1.2% to $206.21 at the close of yesterday’s trading session. The latest development is expected to significantly boost the company’s Discovery Services business, a part of the Discovery and Safety Assessment (“DSA”) segment.
Recent advancements in genetics, pathology and biomarkers are speeding up the process of neuroscience drug discovery. Charles River is contributing to shaping neuroscience research, from providing deep translational expertise for preclinical models to novel drug discovery therapeutics, manufacturing and commercialization. We expect the market sentiment toward the stock to get a boost, driven by this development.
Impact of Charles River’s Participation in DanubeNeuro
With the trend of increasing lifespan, age-related conditions such as neurodegenerative disorders are becoming major and growing unmet medical needs worldwide, carrying significant and growing public health and societal implications. Given the urgent need for novel strategies and approaches to tackle complex diseases like Alzheimer’s and Parkinson’s, it is crucial to speed up the process of turning innovative academic ideas into viable drug development programs.
Launched by CEBINA earlier this year, DanubeNeuro identifies and develops pioneering research projects with the potential to create advanced drugs, diagnostic methods, disease biomarkers and imaging techniques for neurodegenerative diseases. CEBINA’s comprehensive selection process covers the key aspects of drug discovery and early-phase product development.
Projects selected for acceleration within DanubeNeuro will benefit from CEBINA’s experience from other acceleration programs, as well as Charles River’s knowledge and extensive expertise in drug discovery and development in the central nervous system field. DanubeNeuro is supported by a dedicated fund, Danube BioVentures. Together, Charles River and CEBINA will enhance this program’s potential to accelerate innovation in neurodegeneration.
Industry Prospects Benefiting CRL
According to Allied Market Research, the global neurodegenerative drugs market is forecasted to witness a compound annual rate of 7.5% through 2031 from a valuation of $36.28 billion in 2021. The rising prevalence of neurodegenerative diseases such as Parkinson’s, multiple sclerosis and Alzheimer's disease is fueling the demand for neurogenerative drugs. The growth of the market is likely to be driven by the high potential in untapped, emerging markets due to the availability of improved healthcare infrastructure and rising chronic disease rates.
Charles River’s Recent Developments
Earlier this month, Charles River and Insightec formed a five-year strategic partnership to integrate focused ultrasound for drug discovery and preclinical development of therapeutics in neuroscience. The collaboration will provide Charles River’s clients with access to a comprehensive global service and technology platform. Insightec’s novel low-frequency ultrasound platform non-invasively disrupts the blood-brain barrier, enabling drugs to be delivered to targeted brain areas.
CRL Stock Price Performance
Over the past year, shares of the company have fallen 1.1% against the industry’s growth of 15.1%.
CRL’s Zacks Rank and Top MedTech Stocks
Charles River carries a Zacks Rank #4 (Sell).
Some better-ranked stocks in the broader medical space are Boston Scientific BSX, AxoGen AXGN and Phibro Animal Health PAHC, each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Boston Scientific’s shares have risen 55.6% in the past year. Estimates for the company’s earnings per share have remained constant at $2.40 in 2024 and $2.71 in 2025 in the past 30 days. BSX’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 7.2%. In the last reported quarter, it posted an earnings surprise of 6.9%.
Estimates for AxoGen’s 2024 loss per share have remained constant at 1 cent in the past 30 days. Shares of the company have surged 177.7% in the past year compared with the industry’s growth of 18%. AXGN’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 96.5%. In the last reported quarter, it delivered an earnings surprise of 200%.
Estimates for Phibro Animal Health’s 2024 earnings per share have risen 0.7% in the past 30 days. Shares of the company have rallied 79% in the past year compared with the industry’s 20.6% growth. PAHC’s earnings surpassed estimates in three of the trailing four quarters and missed on one occasion, the average surprise being 4.1%. In the last reported quarter, it delivered an earnings surprise of 20.6%.
Zacks Investment Research
August saw the equity market make good the losses it experienced post its mid-July peak, with earnings and benign data helping the fightback. With August in the rearview mirror, here’s a look at the leaders and laggards among the S&P 500 Index, a broader gauge of market performance.
3-Part Trend: The month’s trading could be characterized as a tale of three trends. Stocks extended the weakness into August, with the S&P 500 bottoming on Aug. 5, coinciding with the collapse of the global equity markets. The unwinding of the yen carry trades due to the yen’s strength perked up risk aversion, sending Japanese stocks into a tailspin, and the reverberations became evident elsewhere.
The S&P 500 Index fell 4.3% intraday on Aug. 5, which happened to be a Monday. The collapse was promptly dubbed Black Monday 2.0 to differentiate it from the Black Monday crash of Oct. 1987. The CBOE Volatility Index, commonly called VIX, more than doubled to 65.73 intraday before pulling back.
On a positive note, the S&P 500 closed off the lows of the day and was down a more modest 3% by the close.
The market saw a steady recovery from the low through Aug. 22, thanks to a slew of catalysts that reinforced expectations that the Federal Open Market Committee would begin cutting rates at its September meeting.
The strong and rapid recovery pushed traders on the defensive, and the market has been moving sideways since then.
Source: Yahoo Finance
For August, the S&P 500 Index gained 2.28%, ending the month at 5,648.40, off its record closing high of 5,667.20 hit on July 16.
See Also: Best Growth Stocks Right Now
The Leaders: None of the Magnificent seven stocks, which have been spearheading the broader market uptrend since the start of the 2023, made it to the list of the top 10 gainers. The list featured two cybersecurity companies, namely CrowdStrike Holdings, Inc. and Fortinet, Inc. . CrowdStrike was rebounding from its global-outage-induced slump seen since July 19.
Fortinet was helped by a strong post-earnings rally.
Two household and personal care products companies also made the cut, while a management change did the truck for coffee chain Starbucks Corp. .
The top 10 gainers for the month are:
The Laggards: Artificial intelligence server manufacturer Super Micro Computer, Inc. , which had a dream run after its inclusion in the S&P 500 Index, plummeted following a short report and the delay flagged by the company in filing its 10-K report. Intel Corp. , which is fraught with fundamental risk, was also one of the worst performers for the month.
A few retailers ended up in the list of the top 10 S&P 500 decliners for August.
The top 10 losers for the month are:
Earnings reactions triggered the weakness seen in some of these stocks, including Intel, and Moderna, which reduced its full-year forecast.
With the Fed all but decided on a September rate cut, some of these beaten-down stocks, especially those in the retail space, could stage a turnaround.
The SPDR S&P 500 ETF Trust , an exchange-traded fund that tracks the S&P 500 Index, ended Friday’s session up 0.95% at $563.68, according to Benzinga Pro data.
Read Next:
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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