Medpace downgraded to Hold from Buy at TD Cowen

TD Cowen downgraded Medpace (MEDP) to Hold from Buy with a price target of $328, down from $370. The firm cites the challenging biotech funding and uncertain regulatory environment for the downgrade. This may lead to slower trial activity and more restricted biotech investment, the analyst tells investors in a research note. TD says that while Medpace will be able to see revenue growth starting in 2026 through market share gains, the macro environment offers little upside in 2025 and an uncertain 2026.