Brokerages Set $57.25 Price Target for PPD (NASDAQ:SDGR)
PPD (NASDAQ:SDGR) has received an average broker rating score of 2.50 (Hold) from the four analysts that cover the company, Zacks Investment Research reports. Three research analysts have rated the stock with a hold recommendation and one has assigned a strong buy recommendation to the company.
Brokers have set a 12-month consensus price target of $57.25 for the company and are predicting that the company will post ($0.25) earnings per share for the current quarter, according to Zacks. Zacks has also given PPD an industry rank of 160 out of 254 based on the ratings given to related companies.
Several research firms recently weighed in on SDGR. Jefferies Financial Group assumed coverage on PPD in a report on Monday, March 2nd. They issued a “hold” rating and a $42.00 target price for the company. Morgan Stanley boosted their price objective on PPD from $43.00 to $52.00 and gave the company an “equal weight” rating in a research report on Thursday, May 14th. Zacks Investment Research cut PPD from a “buy” rating to a “hold” rating in a research report on Tuesday, May 26th. Finally, BMO Capital Markets boosted their price objective on PPD from $67.00 to $85.00 and gave the company an “outperform” rating in a research report on Tuesday, June 2nd.
PPD (NASDAQ:SDGR) last released its earnings results on Wednesday, May 13th. The company reported ($0.34) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.21) by ($0.13). The business had revenue of $26.17 million during the quarter, compared to the consensus estimate of $21.90 million. Equities analysts anticipate that PPD will post -0.75 EPS for the current year.
Schrödinger, Inc provides computational platform to accelerate drug discovery and materials design for biopharmaceutical and industrial companies, academic institutions, and government laboratories worldwide. The company operates through two segments, Software and Drug Discovery. It segment is focused on selling its software for drug discovery in the life sciences industry, as well as to customers in materials science industries.
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