Provention Bio, Inc. (NASDAQ:PRVB) Expected to Earn FY2023 Earnings of ($1.83) Per Share

Provention Bio, Inc. (NASDAQ:PRVBGet Rating) – Research analysts at Cantor Fitzgerald increased their FY2023 earnings per share estimates for shares of Provention Bio in a research report issued to clients and investors on Monday, November 21st. Cantor Fitzgerald analyst P. Agrawal now expects that the company will post earnings of ($1.83) per share for the year, up from their previous forecast of ($1.95). The consensus estimate for Provention Bio’s current full-year earnings is ($1.67) per share.

Other analysts have also issued research reports about the company. Chardan Capital boosted their price target on Provention Bio from $24.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, November 18th. Jefferies Financial Group boosted their price objective on Provention Bio from $18.00 to $22.00 and gave the stock a “buy” rating in a research note on Friday, November 18th. SVB Leerink boosted their price objective on Provention Bio from $16.00 to $19.00 and gave the stock an “outperform” rating in a research note on Monday. Finally, Oppenheimer boosted their price objective on Provention Bio from $14.00 to $18.00 and gave the stock an “outperform” rating in a research note on Friday, November 18th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Provention Bio currently has a consensus rating of “Buy” and an average target price of $21.40.

Provention Bio Price Performance

Shares of PRVB stock opened at $9.41 on Wednesday. The stock’s fifty day simple moving average is $6.65 and its 200 day simple moving average is $5.13. The company has a debt-to-equity ratio of 0.16, a current ratio of 7.58 and a quick ratio of 7.58. The firm has a market cap of $820.46 million, a price-to-earnings ratio of -6.03 and a beta of 2.36. Provention Bio has a one year low of $3.18 and a one year high of $9.65.

Institutional Investors Weigh In On Provention Bio

A number of institutional investors and hedge funds have recently made changes to their positions in PRVB. Royal Bank of Canada raised its position in shares of Provention Bio by 166.5% during the third quarter. Royal Bank of Canada now owns 7,769 shares of the company’s stock worth $35,000 after acquiring an additional 4,854 shares during the last quarter. OLD Mission Capital LLC bought a new stake in shares of Provention Bio during the second quarter worth $41,000. Aspiriant LLC bought a new stake in shares of Provention Bio during the second quarter worth $44,000. Cantor Fitzgerald L. P. bought a new stake in shares of Provention Bio during the third quarter worth $45,000. Finally, Prelude Capital Management LLC bought a new stake in Provention Bio in the second quarter valued at about $48,000. Institutional investors own 37.39% of the company’s stock.

About Provention Bio

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Provention Bio, Inc, a clinical stage biopharmaceutical company, focuses on the development and commercialization of therapeutics and solutions to intercept and prevent immune-mediated diseases. Its products candidates include PRV-031 teplizumab and monoclonal antibodies (mAb) that is in Phase III clinical trial for the interception of type one diabetes (T1D); PRV-3279, which has completed Phase Ib clinical trial for the treatment of lupus; PRV-101, a coxsackie virus B (CVB) vaccine for the prevention of acute CVB infections and onset of T1D; and PRV-015, which is in phase IIb clinical trial for the treatment of gluten-free diet non-responding celiac disease.

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Earnings History and Estimates for Provention Bio (NASDAQ:PRVB)

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