Charles River climbs after lifting annual profit forecast

Shares of contract drug developer Charles River Laboratories (CRL.N) rose 8.8% to $254.73 premarket.

The company said it expects annual adjusted profit per share between $11.15 and $11.45, up from its prior view of $10.80 to $11.30.

Charles River reported second-quarter adjusted profit of $3.02 per share, versus analysts' average estimate of $2.74 per share, according to LSEG data.

Second-quarter revenue of $1 billion also beat analysts' average expectation of $975.7 million on improving biotech demand.

Up to the last close, the stock was up 17.4% year to date.