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CRL · Analysis updated Nov 10, 2026, 6:00 PM ET
Why is Charles River Laboratories International, Inc. (CRL) stock moving?
Charles River beat Q3 2026 estimates on Nov 4, with adjusted EPS of $3.09 against $2.97 and sales of $982.7M against $958.7M. Full-year adjusted EPS guidance was widened to $11.35-$11.55, around the $11.38 estimate, while sales guidance rose to $3.940B-$3.960B. Management does not expect a pricing benefit until at least H2 2027. The stock still fell from a $349.90 open to a $326.29 close on Nov 4, then hit a 30-day low of $313.02 on Nov 5 on heavy volume of about 1.66M shares. Analysts responded with price target increases to $352-$400 (RBC $352, Barclays $375, Jefferies $385, UBS $387, Evercore $400), with UBS maintaining Buy and Evercore Outperform. On Nov 9 Charles River agreed to buy Frontage's bioanalysis and DMPK operations for $470M in cash plus up to $75M in contingent payments, expected to close in H1 2027 subject to approvals. An analyst called it an attractive strategic addition, and the stock rose to $353.34 that day. The close on Nov 10 was $345.80 on lower volume of about 822K shares, roughly 9% below the 30-day high of $379.63 from Oct 29. The evidence points to fundamentals and analyst sentiment that lean positive, while the stock's post-earnings reaction and the deal's cash cost and pending approvals keep the picture mixed.
News behind the analysis
- Charles River Laboratories Recent $470 Million Deal an 'Attractive Strategic Addition,' Analyst SaysAn analyst calls the $470M cash purchase of Frontage's bioanalysis unit an attractive strategic addition for Charles River's clinical testing scale.
- Charles River to Acquire Frontage Bioanalysis, DMPK Businesses for $470 MillionCharles River agreed to buy Frontage's bioanalysis and DMPK businesses for $470M in cash, with the deal expected to close in the first half of 2027.
- Charles River Laboratories To Acquire Frontage Holdings Corporation’s Bioanalysis And DMPK Operations In Pennsylvania For ~$470M In Cash Plus Additional Payments Of Up To $75MThe acquired sites in Exton, Pennsylvania include a CLIA-certified central laboratory and about 340 employees, with up to $75M in contingent payments on top of the price.
- UBS Maintains Buy on Charles River, Raises Price Target to $387UBS kept its Buy rating and raised its price target to $387 after the third-quarter report.
- Financial Institutions Adjust Price Targets for Charles River Laboratories Following Q3 EarningsUBS, Jefferies, RBC and Deutsche Bank all updated their price targets on Nov 5 following the third-quarter earnings report.
- Evercore ISI Group Maintains Outperform on Charles River, Raises Price Target to $400Evercore ISI kept its Outperform rating and raised its price target to $400, the highest among the updates listed.
- Charles River Raises FY2026 GAAP EPS Guidance from $3.05-$3.35 to $8.15-$8.35 vs $2.83 EstFull-year 2026 GAAP EPS guidance was raised to $8.15-$8.35, well above the prior range and the $2.83 estimate.
- Charles River Widens FY2026 Adj EPS Guidance from $11.45 to $11.35-$11.55 vs $11.38 Est; Raises FY2026 Sales Guidance from $3.915B to $3.940B-$3.960B vs $3.916B EstAdjusted EPS guidance was widened to $11.35-$11.55, around the $11.38 estimate, while sales guidance was raised to $3.940B-$3.960B.
- Charles River Q3 Adj. EPS $3.09 Beats $2.97 Estimate, Sales $982.732M Beat $958.693M EstimateThird-quarter adjusted EPS of $3.09 and sales of $982.7M both beat consensus estimates.
- Charles River Executive Says Overtime Goal Is To Cover Annual Cost Inflation Through Price Increases; Company Not Expecting A Pricing Benefit Until At Least H2 2027Management said it aims to recover annual cost inflation through price increases but does not expect a pricing benefit until at least the second half of 2027.
About Charles River Laboratories International, Inc.
Charles River Laboratories, based in Wilmington, Massachusetts, sells research services and products that drug companies use in the early, pre-human stages of drug development. It is one of the world's largest preclinical contract research organizations (CROs) and a major supplier of research animal models. That gives it a central place in early-stage drug safety testing.
How it makes money
The company reports three segments. Discovery and Safety Assessment (DSA) is the largest, bringing in about 60% of revenue: it runs outsourced drug discovery work and the safety and toxicology studies regulators require, including studies using non-human primates, plus bioanalysis. Research Models and Services (RMS), about 20%, breeds and sells research animals such as rodents and provides related services. Manufacturing Solutions, about 18%, includes microbial testing (for example, Endosafe kits that test drugs for bacterial contamination) and biologics testing. In May 2026 the company sold some businesses, including its contract drug manufacturing (CDMO) operation. Quarterly revenue is roughly $1 billion.
What usually moves CRL
- Biotech funding and pharma R&D budgets
- DSA bookings and study pricing
- Regulatory moves toward alternatives to animal testing
- Supply, cost and controversy around research primates
- Cost cuts, divestitures and margin trends