Medpace Holdings Inc (NASDAQ:MEDP) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday. The brokerage presently has a $36.00 price target on the stock. Zacks Investment Research’s target price would indicate a potential upside of 4.50% from the stock’s current price.

According to Zacks, “Medpace Holdings, Inc. is a scientifically-driven, global, full-service clinical contract research organization which provides Phase I-IV clinical development services to the biotechnology, pharmaceutical and medical device industries. Medpace Holdings, Inc. is headquartered in Cincinnati, Ohio. “

MEDP has been the subject of several other reports. Wells Fargo & Co. began coverage on shares of Medpace Holdings in a research report on Tuesday, September 6th. They set an “outperform” rating for the company. William Blair reissued an “outperform” rating on shares of Medpace Holdings in a research note on Tuesday, September 6th. Robert W. Baird began coverage on shares of Medpace Holdings in a research note on Tuesday, September 6th. They set a “neutral” rating and a $35.00 target price on the stock. Jefferies Group began coverage on shares of Medpace Holdings in a research note on Tuesday, September 6th. They set a “hold” rating and a $32.50 target price on the stock. Finally, Credit Suisse Group AG began coverage on shares of Medpace Holdings in a research note on Tuesday, September 6th. They set an “outperform” rating and a $35.00 target price on the stock. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $35.00.

Analyst Recommendations for Medpace Holdings (NASDAQ:MEDP)

Medpace Holdings (NASDAQ:MEDP) opened at 34.45 on Wednesday. The company has a market capitalization of $1.40 billion and a price-to-earnings ratio of 237.59. The company’s 50-day moving average is $30.18 and its 200 day moving average is $29.75. Medpace Holdings has a 52 week low of $26.51 and a 52 week high of $34.88.

Medpace Holdings (NASDAQ:MEDP) last posted its quarterly earnings data on Thursday, November 3rd. The company reported $0.40 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.34 by $0.06. The firm had revenue of $94.80 million for the quarter, compared to analyst estimates of $91.42 million. The company’s revenue was up 16.2% compared to the same quarter last year. On average, analysts forecast that Medpace Holdings will post $1.52 EPS for the current fiscal year.

In other Medpace Holdings news, insider Susan E. Burwig acquired 19,211 shares of the company’s stock in a transaction on Wednesday, August 17th. The shares were purchased at an average cost of $29.21 per share, with a total value of $561,153.31. Following the completion of the purchase, the insider now owns 1,211 shares of the company’s stock, valued at $35,373.31. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO August J. Troendle acquired 869,565 shares of the company’s stock in a transaction on Tuesday, August 16th. The stock was acquired at an average cost of $23.00 per share, for a total transaction of $19,999,995.00. Following the completion of the purchase, the chief executive officer now directly owns 1,221,416 shares of the company’s stock, valued at approximately $28,092,568. The disclosure for this purchase can be found here.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Fund Advisors acquired a new position in Medpace Holdings during the third quarter worth $6,056,000. BlackRock Institutional Trust Company N.A. acquired a new position in Medpace Holdings during the third quarter worth $5,115,000. Monashee Investment Management LLC acquired a new position in Medpace Holdings during the third quarter worth $4,479,000. JPMorgan Chase & Co. acquired a new position in Medpace Holdings during the third quarter worth $3,114,000. Finally, Tygh Capital Management Inc. acquired a new position in Medpace Holdings during the third quarter worth $2,077,000.

About Medpace Holdings

Medpace Holdings, Inc is a holding company. The Company operates as a clinical contract research organization (CRO) focused on providing scientifically-driven outsourced clinical development services to the biotechnology, pharmaceutical and medical device industries. The Company is focused on conducting clinical trials across therapeutic areas, with focus in cardiology, metabolic disease, oncology, endocrinology, central nervous system (CNS), and Anti-Viral and Anti-Infective (AVAI).

5 Day Chart for NASDAQ:MEDP

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