NYSE:CRL

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Charles River Laboratories Stock Rises 3%, Extends Gains Premarket After Argus Sets $330 Target

Charles River Laboratories shares closed Thursday at $281.67, up 3.02%, and were trading another 1.48% higher at $285.83 in Friday premarket trading.

The move came as Argus set a $330 price target on the stock. Based on Thursday’s close, the target implies roughly 17% upside.

Broader probable reasons behind the positive momentum include improving sentiment toward life-sciences tools and contract research companies, expectations for a recovery in biotech and pharmaceutical R&D spending, and the potential for stronger demand for outsourced drug-development services.

Charles River provides research models, laboratory services and preclinical development support to pharmaceutical and biotechnology companies, giving it exposure to changes in drug-development activity across the sector.

Friday’s premarket gain suggests the positive momentum has continued beyond Thursday’s analyst action, with investors focusing on the company’s longer-term earnings potential and a possible improvement in biopharma research spending.
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Author
European Investor 09-18-26
Charles River Laboratories International, Inc. announced that its Chair, President, and CEO, James C. Foster, purchased 6,075 shares of the company’s common stock at an average price of $165.01, totaling approximately $1 million. Additionally, Corporate Executive Vice President and Chief Operating Officer, Birgit Girshick, acquired 1,514 shares at an average price of $164.63, amounting to roughly $250,000. Both executives cited confidence in the company’s strategic direction and long-term growth prospects as reasons for their purchases.

To facilitate these transactions, Mr. Foster and Ms. Girshick terminated their respective Rule 10b5-1 Trading Plans, which had previously been established for selling company stock under predetermined conditions. Mr. Foster’s plan, initiated in February 2024, allowed for the sale of up to 129,721 shares, with 25,000 shares sold in August 2024. Ms. Girshick’s plan, established in November 2023, covered up to 22,362 shares, though no sales were made under it.

The company reaffirmed its confidence in its strategic initiatives and growth outlook while cautioning that forward-looking statements are subject to market risks and uncertainties.
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Author
WS Investor 02-22-25
Charles River Laboratories reported mixed financial results for the fourth quarter and full-year 2024, with total annual revenue decreasing 1.9% to $4.05 billion. The company faced challenges in its Discovery and Safety Assessment (DSA) and Research Models and Services (RMS) segments, while its Manufacturing Solutions segment showed modest growth.

For the fourth quarter, revenue declined 1.1% year-over-year to $1.00 billion, with organic revenue contracting by 1.8%. A non-cash goodwill impairment of $215 million in the Biologics Solutions unit resulted in a GAAP net loss of $215.7 million, or $(4.22) per share. On a non-GAAP basis, net income increased 7.4% to $136.6 million, with earnings per share rising to $2.66 from $2.46 in the prior-year quarter.

Full-year GAAP earnings per share dropped sharply to $0.20 from $9.22 in 2023, primarily due to impairment charges and lower earnings from venture capital investments. However, non-GAAP earnings per share declined only 3.3% to $10.32, reflecting cost-saving initiatives and improved performance in Manufacturing Solutions, which saw a 6.6% revenue increase and a higher operating margin.

Looking ahead to 2025, the company expects continued pressure from biopharmaceutical clients' restructuring and pipeline reprioritization efforts but sees stabilizing demand trends, particularly among small and mid-sized biotech firms. To enhance shareholder value, Charles River plans approximately $350 million in stock repurchases while continuing efforts to improve efficiency and profitability.
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Author
European Investor 02-19-25
UBD downgrades CRL from buy to hold
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Author
European Investor 01-19-25
On January 14, 2025, Charles River Laboratories International, Inc. presented at the 43rd Annual J.P. Morgan Healthcare Conference, sharing insights into their strategic focus, business developments, and the financial outlook for 2025. They forecast a similar decline in 2025 revenue as observed in 2024 due to various factors including restructuring in global biopharma, and stable demand from biotech clients. They also highlighted challenges in their Contract Development and Manufacturing Organiz
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Author
WS News 01-14-25
On December 13, 2024, Charles River Laboratories amended its credit agreement, reducing commitments from $3 billion to $2 billion and extending maturity to 2029. The agreement includes Charles River and its subsidiary as borrowers, with financing backed by substantial assets and stock pledges. The deal sets strict financial tests and limits on further debt and business activities.
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Author
WS News 01-14-25
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04-11-25WS Investor