PRA Health Sciences, Inc. (NASDAQ:PRAH)‘s stock had its “buy” rating reiterated by research analysts at Citigroup Inc. in a note issued to investors on Thursday. They presently have a $93.00 price target on the medical research company’s stock, up from their previous price target of $90.00. Citigroup Inc.’s price target indicates a potential upside of 25.34% from the stock’s current price.
A number of other equities research analysts have also commented on PRAH. Jefferies Group LLC upped their target price on PRA Health Sciences from $72.00 to $72.50 and gave the company a “buy” rating in a research report on Friday, April 28th. Credit Suisse Group reiterated an “outperform” rating and issued a $76.00 target price (up previously from $69.00) on shares of PRA Health Sciences in a research report on Tuesday, June 6th. Bank of America Corporation initiated coverage on PRA Health Sciences in a research report on Monday, June 26th. They issued a “buy” rating and a $89.00 target price on the stock. BidaskClub lowered PRA Health Sciences from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st. Finally, Robert W. Baird upped their target price on PRA Health Sciences from $82.00 to $83.00 and gave the company an “outperform” rating in a research report on Tuesday. One research analyst has rated the stock with a sell rating, two have given a hold rating and nine have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $78.00.
Shares of PRA Health Sciences (PRAH) traded up 0.53% during mid-day trading on Thursday, reaching $74.20. 781,983 shares of the company traded hands. PRA Health Sciences has a 52 week low of $48.42 and a 52 week high of $80.99. The stock has a market capitalization of $4.65 billion, a PE ratio of 47.90 and a beta of 0.45. The firm has a 50 day moving average of $75.18 and a 200-day moving average of $67.24.
PRA Health Sciences (NASDAQ:PRAH) last issued its earnings results on Monday, August 7th. The medical research company reported $0.62 EPS for the quarter, missing the Zacks’ consensus estimate of $0.72 by $0.10. The firm had revenue of $457.90 million during the quarter, compared to analysts’ expectations of $447.79 million. PRA Health Sciences had a net margin of 5.15% and a return on equity of 21.17%. PRA Health Sciences’s quarterly revenue was up .5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.63 EPS. On average, equities research analysts expect that PRA Health Sciences will post $3.18 EPS for the current fiscal year.
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Hedge funds and other institutional investors have recently made changes to their positions in the stock. Old Mutual Global Investors UK Ltd. bought a new position in shares of PRA Health Sciences during the first quarter worth about $7,105,000. Russell Investments Group Ltd. increased its position in shares of PRA Health Sciences by 10.6% in the first quarter. Russell Investments Group Ltd. now owns 694,231 shares of the medical research company’s stock worth $45,286,000 after buying an additional 66,449 shares during the last quarter. Sawgrass Asset Management LLC increased its position in shares of PRA Health Sciences by 57.0% in the first quarter. Sawgrass Asset Management LLC now owns 23,470 shares of the medical research company’s stock worth $1,531,000 after buying an additional 8,525 shares during the last quarter. Meritage Portfolio Management bought a new position in shares of PRA Health Sciences during the first quarter worth about $4,527,000. Finally, Independent Portfolio Consultants Inc. bought a new position in shares of PRA Health Sciences during the first quarter worth about $279,000.
PRA Health Sciences Company Profile
PRA Health Sciences, Inc is a contract research organization. The Company provides outsourced clinical development services to the biotechnology and pharmaceutical industries. The Company offers therapeutic services in areas of pharmaceutical development, including oncology, central nervous system, inflammation and infectious diseases.
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