Barclays Downgrades Medpace To Underweight, Cites Valuation Concerns

Group 1 - Barclays downgraded Medpace Holdings Inc. from Equalweight to Underweight and reduced its price target to $425.00 from $450.00 [1] - The downgrade was primarily valuation-driven, with Medpace shares trading above the historical premium relative to peers [1] - The biotech market is described as "bouncing along the bottom," but the company is expected to continue winning new business [1] Group 2 - Potential risk is flagged for the second half of 2026 regarding Medpace's ability to fill its backlog with faster-burning projects [2] - There are concerns about sustaining elevated growth as more traditional work ramps up [2]