William Blair analyst Andrew Brackmann has maintained their neutral stance on QGEN stock, giving a Hold rating yesterday.
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Andrew Brackmann has given his Hold rating due to a combination of factors including Qiagen’s recent performance and market conditions. The company’s second-quarter results met expectations, with revenue and earnings slightly surpassing guidance, and full-year revenue projections were marginally increased. Despite these positive indicators, the stock’s significant rise of 26% since March, compared to a 7% increase in the Russell 2000, suggests that investors were hoping for even more substantial gains, which led to a 5% drop in share price.
Brackmann acknowledges that Qiagen’s management is effectively executing its 2025 objectives and performing well amidst macroeconomic uncertainties. However, he expresses a need for more clarity on the company’s intermediate-term outlook and the timeline for achieving its long-term revenue growth target of 7% CER. The stock’s current trading at 19 times next twelve months earnings, below its 10-year historical average of 22 times, also influences the Hold rating, as it reflects a cautious stance given the external challenges beyond management’s control.
In another report released yesterday, TD Cowen also maintained a Hold rating on the stock with a $52.00 price target.