PPD (NASDAQ:PPD) had its price objective increased by equities researchers at Deutsche Bank Aktiengesellschaft from $33.00 to $38.00 in a research report issued on Thursday, The Fly reports. The firm presently has a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft’s target price points to a potential upside of 14.60% from the stock’s previous close.
A number of other research firms have also recently commented on PPD. Mizuho boosted their price target on PPD from $35.00 to $38.00 and gave the stock a “buy” rating in a report on Tuesday, September 22nd. Truist started coverage on PPD in a report on Monday, October 12th. They set a “buy” rating and a $42.00 price target for the company. Robert W. Baird boosted their price target on PPD from $36.00 to $40.00 and gave the stock an “outperform” rating in a report on Monday, September 21st. Morgan Stanley boosted their price target on PPD from $30.00 to $35.00 and gave the stock an “overweight” rating in a report on Wednesday, August 5th. Finally, KeyCorp boosted their price target on PPD from $35.00 to $37.00 and gave the stock an “overweight” rating in a report on Tuesday, September 15th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and sixteen have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $34.88.
Shares of PPD stock opened at $33.16 on Thursday. The business’s 50 day simple moving average is $35.11 and its 200 day simple moving average is $29.61. The firm has a market cap of $11.56 billion and a PE ratio of 33.84. PPD has a 52-week low of $10.61 and a 52-week high of $37.51.
In related news, insider Karen Kaucic sold 20,574 shares of the company’s stock in a transaction dated Tuesday, September 29th. The stock was sold at an average price of $34.80, for a total transaction of $715,975.20. Following the sale, the insider now owns 8,392 shares in the company, valued at approximately $292,041.60. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Ronald E. Garrow sold 9,500 shares of the company’s stock in a transaction dated Friday, September 18th. The shares were sold at an average price of $34.12, for a total value of $324,140.00. Following the sale, the insider now owns 9,500 shares in the company, valued at approximately $324,140. The disclosure for this sale can be found here. Insiders sold a total of 10,812,385 shares of company stock worth $338,411,007 in the last quarter.
Several institutional investors have recently made changes to their positions in the stock. Convergence Investment Partners LLC bought a new stake in shares of PPD during the 3rd quarter valued at about $467,000. Xponance Inc. acquired a new position in PPD during the 3rd quarter worth approximately $396,000. NEXT Financial Group Inc acquired a new position in PPD during the 3rd quarter worth approximately $26,000. Syquant Capital Sas acquired a new position in PPD during the 3rd quarter worth approximately $2,774,000. Finally, Nisa Investment Advisors LLC acquired a new position in PPD during the 3rd quarter worth approximately $126,000. Institutional investors own 65.00% of the company’s stock.
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.
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