PPD reiterated at buy by Jefferies

Pharmaceutical Product Development, Inc. was reiterated at a buy with a raised price target of $44.50 by Jefferies & Co., Inc. analyst David Windley. PPD reported second-quarter results of $0.31 per share on $283.4 million in net revenues, compared to the analyst's estimate of $0.30 per share on $274 million and consensus of $0.29 per share on $275 million. Shares of the Wilmington, N.C.-based pharmaceutical company were down 70 cents, or 1.81%, at $37.91 on volume of 735,029 shares versus the three-month running average of 661,239 shares. (Nasdaq: PPDI)

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