Bio-Rad Laboratories' stock experienced a sharp pre-market plunge of 12.80% on Friday, extending losses from the previous session.
The decline follows a significant analyst action, with Jefferies cutting its price target on the life sciences company to $280 from $325. This downgrade comes in response to Bio-Rad's recent fourth-quarter earnings report, which fell short of expectations, and its conservative guidance for the coming year.
The company reported adjusted earnings per share of $2.51 for the quarter, missing the consensus estimate and representing a year-over-year decline. Furthermore, management issued a weak outlook for fiscal year 2026, projecting minimal revenue growth and citing challenges including geopolitical uncertainty and constrained funding in the academic and biotech sectors, which has already impacted its Life Science segment sales.