PPD (NASDAQ:PPD) Receives Average Recommendation of “Buy” from Brokerages

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Shares of PPD (NASDAQ:PPD) have been assigned an average recommendation of “Buy” from the fourteen analysts that are presently covering the stock, Marketbeat Ratings reports. Fourteen analysts have rated the stock with a buy recommendation. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $32.23.

A number of equities analysts have recently issued reports on the company. Mizuho assumed coverage on PPD in a report on Monday, March 2nd. They issued a “buy” rating and a $32.00 price objective for the company. Goldman Sachs Group assumed coverage on PPD in a report on Monday, March 2nd. They set a “buy” rating and a $34.00 target price for the company. Barclays dropped their target price on PPD from $33.00 to $30.00 and set an “overweight” rating for the company in a report on Thursday. Robert W. Baird assumed coverage on PPD in a report on Monday, March 2nd. They set an “outperform” rating and a $35.00 target price for the company. Finally, Bank of America assumed coverage on PPD in a report on Monday, March 2nd. They set a “buy” rating and a $33.00 target price for the company.

PPD opened at $19.91 on Friday. PPD has a 12-month low of $10.61 and a 12-month high of $33.23. The stock has a market capitalization of $6.10 billion and a PE ratio of 20.32.

In other PPD news, CEO David S. Simmons purchased 40,000 shares of the stock in a transaction on Monday, February 10th. The stock was acquired at an average price of $32.25 per share, with a total value of $1,290,000.00. Also, insider Christopher Fikry purchased 7,400 shares of the stock in a transaction on Monday, February 10th. The shares were acquired at an average cost of $32.25 per share, with a total value of $238,650.00. Insiders have acquired a total of 77,400 shares of company stock valued at $2,496,150 in the last ninety days.

About PPD

PPD, Inc provides drug development services to the biopharmaceutical industry worldwide. The company offers clinical development and laboratory services to the pharmaceutical, biotechnology, and medical device and government organizations, as well as other industry participants. It operates in two segments, Clinical Development Services and Laboratory Services.

See Also: Equity Income

Analyst Recommendations for PPD (NASDAQ:PPD)

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