Skip to main content
Premium Trial:

Request an Annual Quote

Evercore ISI Downgrades PerkinElmer Shares to In Line

NEW YORK – Investment bank Evercore ISI on Tuesday downgraded PerkinElmer's shares to an In Line rating from a prior Outperform rating and decreased the price target for the firm's stock to $150 per share from $175 per share.

In a note to investors, Evercore analyst Vijay Kumar said that while PerkinElmer's current management has "done a phenomenal job of transforming the asset into a higher growth/higher consumable story," the valuation gap that existed when the bank originally upgraded the company's shares in 2019 to Outperform has closed. PerkinElmer's stock now matches Evercore's expectations, "causing us to take a fresh look amidst macro uncertainties."

Kumar also wrote that while the company remains on track to grow in the high single digits, organic growth and earnings per share are expected to decline in 2023 due to headwinds to COVID-19 testing, as well as currency effects and macro uncertainties.

In Tuesday trading on the Nasdaq, PerkinElmer's shares closed up a fraction of a percent at $144.56.

The Scan

ChatGPT Does As Well As Humans Answering Genetics Questions, Study Finds

Researchers in the European Journal of Human Genetics had ChatGPT answer genetics-related questions, finding it was about 68 percent accurate, but sometimes gave different answers to the same question.

Sequencing Analysis Examines Gene Regulatory Networks of Honeybee Soldier, Forager Brains

Researchers in Nature Ecology & Evolution find gene regulatory network differences between soldiers and foragers, suggesting bees can take on either role.

Analysis of Ashkenazi Jewish Cohort Uncovers New Genetic Loci Linked to Alzheimer's Disease

The study in Alzheimer's & Dementia highlighted known genes, but also novel ones with biological ties to Alzheimer's disease.

Tara Pacific Expedition Project Team Finds High Diversity Within Coral Reef Microbiome

In papers appearing in Nature Communications and elsewhere, the team reports on findings from the two-year excursion examining coral reefs.