Brokerages say IQVIA unlikely to take big hit from funding decline

Medpace Holdings

16/02/2022 13:49

** Brokerages brush off concerns over impact of biotech
funding decline on contract drug developer IQVIA Holdings
 IQV.N  due to its relatively lower dependence on small biotech
companies
    ** IQV shares fell nearly 5% to $228.64 on Tuesday despite
strong Q4 earnings, hit by comments from rival Medpace Holdings
 MEDP.O  earlier in the day on biotech funding decline
 urn:newsml:reuters.com:*:nBwbFGNZTa
    ** Brokerage Mizuho says MEDP is more leveraged to smaller
biotech than IQV, which said it has not seen "material slowdown
in the pipeline of funding"; reiterates "buy" rating and $300 PT
    ** Another brokerage Stifel says "we would take advantage of
investor misperception to increase IQV positions (or start a
position)"; keeps "buy" rating but cuts PT to $297 from $313
    ** Up to Tuesday's close, IQV shares had fallen nearly 19%
YTD vs a 8.2% decline in the Dow Jones U.S. Health Care index
 .DJUSHC 

 (Reporting by Leroy Leo)
 ((Leroy.Dsouza@thomsonreuters.com ; Twitter: https://twitter.com/LeroyLeo7;))