Pharmaceutical Product Development Stock Soars (PPDI)
Shares of Pharmaceutical Product Development (Nasdaq:PPDI) have taken a tremendous swing upward. The stock is trading at $32.22 as of 10:06 a.m. ET, 25.6% above Friday's closing price of $25.66. Volume is at 5.7 million, 3.7 times the daily average of 1.5 million.
NEW YORK ( TheStreet) -- Shares of Pharmaceutical Product Development (Nasdaq: PPDI) have taken a tremendous swing upward. The stock is trading at $32.22 as of 10:06 a.m. ET, 25.6% above Friday's closing price of $25.66. Volume is at 5.7 million, 3.7 times the daily average of 1.5 million. Pharmaceutical Product Development has a market cap of $3 billion and is part of the health care sector and health services industry. Shares are down 5.5% year to date as of the close of trading on Friday. Pharmaceutical Product Development, Inc., a contract research organization, provides drug discovery, development, and lifecycle management services. It operates in two segments, Clinical Development Services and Laboratory Services. The company has a P/E ratio of 41.6, above the average health services industry P/E ratio of 18.2 and above the S&P 500 P/E ratio of 17.7. TheStreet Ratings rates Pharmaceutical Product Development as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, solid stock price performance, reasonable valuation levels and compelling growth in net income. We feel these strengths outweigh the fact that the company shows weak operating cash flow. You can view the full Pharmaceutical Product Development Ratings Report. See our top % gaining stocks list for other stocks that are soaring today, or get investment ideas from our investment research center. Interested in other stocks that are soaring? Get free SMS text alerts sent to you when the action happens by texting SOAR to 95370 or select from multiple alert options.
Pharmaceutical Product Development (Nasdaq:PPDI) hit a new 52-week high Monday as it is currently trading at $33.12, above its previous 52-week high of $33.09 with 3.3 million shares traded as of four p.m. ET. Average volume has been 2.9 million shares over the past 30 days.