PPD (NASDAQ:PPD) Downgraded by BidaskClub to “Sell”

BidaskClub cut shares of PPD (NASDAQ:PPD) from a hold rating to a sell rating in a research note issued to investors on Friday morning, BidAskClub reports.

Several other equities research analysts have also recently commented on PPD. Robert W. Baird increased their price target on PPD from $36.00 to $40.00 and gave the company an outperform rating in a report on Monday, September 21st. Mizuho increased their price target on PPD from $35.00 to $38.00 and gave the company a buy rating in a report on Tuesday, September 22nd. Deutsche Bank Aktiengesellschaft increased their price target on PPD from $33.00 to $38.00 and gave the company a buy rating in a report on Thursday, October 29th. Zacks Investment Research raised PPD from a hold rating to a buy rating and set a $39.00 price target for the company in a report on Tuesday, November 17th. Finally, KeyCorp increased their price target on PPD from $35.00 to $37.00 and gave the company an overweight rating in a report on Tuesday, September 15th. One analyst has rated the stock with a sell rating and seventeen have issued a buy rating to the stock. The stock presently has an average rating of Buy and an average price target of $35.06.

NASDAQ PPD opened at $34.22 on Friday. The company has a market cap of $11.97 billion and a PE ratio of 34.92. The stock’s 50 day simple moving average is $34.59 and its 200-day simple moving average is $32.62. PPD has a 1-year low of $10.61 and a 1-year high of $37.51.

PPD (NASDAQ:PPD) last released its earnings results on Tuesday, October 27th. The company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.15. The firm had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.17 billion. Research analysts forecast that PPD will post 0.27 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently modified their holdings of the company. NEXT Financial Group Inc acquired a new stake in shares of PPD in the third quarter valued at $26,000. Prospera Financial Services Inc acquired a new stake in shares of PPD in the third quarter valued at $35,000. Ensign Peak Advisors Inc acquired a new stake in shares of PPD in the second quarter valued at $79,000. Nisa Investment Advisors LLC acquired a new stake in shares of PPD in the third quarter valued at $126,000. Finally, American International Group Inc. boosted its holdings in PPD by 148.0% in the third quarter. American International Group Inc. now owns 3,857 shares of the company’s stock valued at $143,000 after purchasing an additional 2,302 shares during the period. 65.00% of the stock is owned by institutional investors and hedge funds.

PPD Company Profile

PPD, Inc provides drug development services to the biopharmaceutical industry worldwide. The company operates through Clinical Development Services and Laboratory Services segments. It offers clinical development services, including product development and consulting, early development, Phases II-IV clinical trial management, accelerated enrollment, peri- and post-approval, and medical communications services.

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Analyst Recommendations for PPD (NASDAQ:PPD)

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