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Why PPD's Stock Is Trading Higher Today

PPD (NASDAQ: PPD) shares are trading higher on Friday, after Morgan Stanley maintained an Overweight rating and raised its price target from $26 to $30.

Benzinga · 05/08/2020 15:24

PPD (NASDAQ: PPD) shares are trading higher on Friday, after Morgan Stanley maintained an Overweight rating and raised its price target from $26 to $30.

PPD is a global contract research organization that provides clinical trial and laboratory services to pharmaceutical, device, and diagnostic firms. The clinical development services segment offers outsourced trial services, spanning early- and late-stage trials, as well as peri- and post-approval trials, and the laboratory services segment includes both advanced lab testing and central lab services.

The company was taken private in 2011 and went public again in 2020.

PPD shares were trading up 5.3% at $27.90 at time of publication. The stock has a 52-week high of $33.23 and a 52-week low of $10.61.

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