Principia Biopharma Inc (NASDAQ:PRNB) has been assigned an average rating of “Buy” from the ten research firms that are currently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $82.17.
PRNB has been the topic of several analyst reports. Robert W. Baird increased their price target on shares of Principia Biopharma from $64.00 to $78.00 and gave the stock an “outperform” rating in a research note on Friday, April 24th. SVB Leerink boosted their price target on Principia Biopharma from $72.00 to $80.00 and gave the stock an “outperform” rating in a research report on Friday, May 15th. Zacks Investment Research downgraded shares of Principia Biopharma from a “buy” rating to a “hold” rating in a report on Saturday. Guggenheim started coverage on Principia Biopharma in a research report on Monday, July 6th. They set a “buy” rating and a $100.00 price objective for the company. Finally, Evercore ISI assumed coverage on shares of Principia Biopharma in a research note on Tuesday, July 28th. They issued an “outperform” rating on the stock.
Shares of NASDAQ:PRNB opened at $83.60 on Thursday. The firm has a market cap of $2.76 billion, a price-to-earnings ratio of -34.26 and a beta of 0.61. Principia Biopharma has a 1 year low of $25.35 and a 1 year high of $94.91. The business has a fifty day simple moving average of $67.62 and a 200 day simple moving average of $62.11.
Principia Biopharma (NASDAQ:PRNB) last announced its quarterly earnings results on Wednesday, May 6th. The company reported ($0.99) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.79) by ($0.20). On average, sell-side analysts anticipate that Principia Biopharma will post -3.48 earnings per share for the current fiscal year.
In related news, Director Alan Colowick sold 6,660 shares of the company’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $60.00, for a total value of $399,600.00. Following the sale, the director now owns 840 shares of the company’s stock, valued at $50,400. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Dolca Thomas sold 15,000 shares of the stock in a transaction dated Wednesday, July 15th. The stock was sold at an average price of $80.07, for a total transaction of $1,201,050.00. The disclosure for this sale can be found here. Insiders sold 68,164 shares of company stock valued at $4,467,928 over the last 90 days. 28.98% of the stock is currently owned by corporate insiders.
Several institutional investors have recently made changes to their positions in the stock. Cormorant Asset Management LP boosted its stake in Principia Biopharma by 5.5% in the first quarter. Cormorant Asset Management LP now owns 2,100,000 shares of the company’s stock worth $124,698,000 after purchasing an additional 109,078 shares in the last quarter. BlackRock Inc. raised its position in shares of Principia Biopharma by 4.7% during the 1st quarter. BlackRock Inc. now owns 1,958,856 shares of the company’s stock valued at $116,318,000 after acquiring an additional 87,899 shares during the last quarter. State Street Corp boosted its position in shares of Principia Biopharma by 7.1% in the 1st quarter. State Street Corp now owns 653,601 shares of the company’s stock worth $38,811,000 after purchasing an additional 43,540 shares during the last quarter. Jennison Associates LLC grew its stake in shares of Principia Biopharma by 34.4% during the first quarter. Jennison Associates LLC now owns 433,306 shares of the company’s stock worth $25,730,000 after purchasing an additional 111,018 shares during the period. Finally, Nuveen Asset Management LLC boosted its holdings in Principia Biopharma by 103.1% during the fourth quarter. Nuveen Asset Management LLC now owns 322,090 shares of the company’s stock worth $17,644,000 after buying an additional 163,508 shares during the last quarter. Institutional investors and hedge funds own 92.49% of the company’s stock.
About Principia Biopharma
Principia Biopharma Inc, a late-stage biopharmaceutical company, focuses on developing novel therapies for immunology and oncology. The company is developing PRN1008, an inhibitor that is in Phase III clinical trial for the treatment of pemphigus, a chronic skin disease, as well as in Phase II clinical trial to treat immune thrombocytopenic purpura.
Receive News & Ratings for Principia Biopharma Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Principia Biopharma and related companies with MarketBeat.com's FREE daily email newsletter.