Shares of Principia Biopharma Inc (NASDAQ:PRNB) have been assigned a consensus recommendation of “Buy” from the six brokerages that are covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation and five have assigned a buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $43.50.
Several research analysts recently weighed in on PRNB shares. Zacks Investment Research upgraded shares of Principia Biopharma from a “hold” rating to a “buy” rating and set a $42.00 price objective for the company in a research report on Saturday, March 23rd. Leerink Swann set a $42.00 price objective on shares of Principia Biopharma and gave the stock a “buy” rating in a research report on Thursday, March 21st. Finally, Stifel Nicolaus started coverage on shares of Principia Biopharma in a research report on Tuesday, April 16th. They issued a “buy” rating and a $45.00 price objective for the company.
NASDAQ:PRNB traded up $0.59 during midday trading on Wednesday, reaching $32.15. 98,336 shares of the stock traded hands, compared to its average volume of 100,890. Principia Biopharma has a 12-month low of $22.00 and a 12-month high of $38.34. The stock has a market capitalization of $767.32 million and a price-to-earnings ratio of 56.40.
Principia Biopharma (NASDAQ:PRNB) last posted its quarterly earnings results on Tuesday, May 7th. The company reported ($0.57) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.62) by $0.05. The company had revenue of $5.16 million during the quarter, compared to analysts’ expectations of $8.00 million. On average, equities analysts anticipate that Principia Biopharma will post -2.62 earnings per share for the current fiscal year.
In related news, major shareholder Orbimed Advisors Llc sold 1,000,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $30.25, for a total value of $30,250,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 28.98% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. TD Asset Management Inc. boosted its stake in Principia Biopharma by 1.2% in the 4th quarter. TD Asset Management Inc. now owns 27,918 shares of the company’s stock worth $765,000 after purchasing an additional 325 shares during the period. Wells Fargo & Company MN raised its holdings in shares of Principia Biopharma by 5.1% in the first quarter. Wells Fargo & Company MN now owns 11,003 shares of the company’s stock valued at $375,000 after acquiring an additional 533 shares in the last quarter. Northern Trust Corp raised its holdings in shares of Principia Biopharma by 0.7% in the first quarter. Northern Trust Corp now owns 81,465 shares of the company’s stock valued at $2,771,000 after acquiring an additional 601 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Principia Biopharma by 2.4% in the first quarter. Charles Schwab Investment Management Inc. now owns 44,530 shares of the company’s stock valued at $1,515,000 after acquiring an additional 1,051 shares in the last quarter. Finally, BNP Paribas Arbitrage SA bought a new stake in shares of Principia Biopharma in the first quarter valued at about $40,000. 82.20% of the stock is owned by hedge funds and other institutional investors.
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.
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