Provention Bio (NASDAQ:PRVB) Rating Increased to Outperform at Sumitomo Mitsui Financial Group

Provention Bio (NASDAQ:PRVB) was upgraded by equities research analysts at Sumitomo Mitsui Financial Group from a “neutral” rating to an “outperform” rating in a research note issued on Tuesday, Analyst Price Targets reports.

Several other equities analysts also recently issued reports on PRVB. HC Wainwright restated a “buy” rating and issued a $25.00 price objective on shares of Provention Bio in a research note on Tuesday, September 14th. Zacks Investment Research downgraded shares of Provention Bio from a “buy” rating to a “hold” rating in a research note on Tuesday. Oppenheimer decreased their price objective on shares of Provention Bio from $18.00 to $16.00 and set an “outperform” rating for the company in a research note on Friday, August 6th. UBS Group upgraded shares of Provention Bio from a “neutral” rating to an “outperform” rating in a research note on Tuesday. Finally, SVB Leerink restated a “buy” rating and issued a $16.00 price objective on shares of Provention Bio in a research note on Monday, September 20th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $16.36.

NASDAQ:PRVB opened at $7.39 on Tuesday. The firm has a market capitalization of $468.34 million, a PE ratio of -3.71 and a beta of 2.84. The business’s fifty day moving average price is $6.45 and its 200 day moving average price is $6.87. Provention Bio has a 12 month low of $5.59 and a 12 month high of $20.05.

Provention Bio (NASDAQ:PRVB) last posted its earnings results on Thursday, November 4th. The company reported ($0.43) EPS for the quarter, beating the consensus estimate of ($0.51) by $0.08. The business had revenue of $0.68 million during the quarter, compared to analysts’ expectations of $3.75 million. During the same period last year, the company earned ($0.56) EPS. On average, equities research analysts anticipate that Provention Bio will post -1.87 EPS for the current fiscal year.

Institutional investors and hedge funds have recently made changes to their positions in the company. Nisa Investment Advisors LLC acquired a new stake in Provention Bio in the second quarter valued at about $43,000. Royal Bank of Canada lifted its position in Provention Bio by 407.1% in the first quarter. Royal Bank of Canada now owns 4,508 shares of the company’s stock valued at $48,000 after purchasing an additional 3,619 shares during the period. Invst LLC acquired a new stake in Provention Bio in the second quarter valued at about $72,000. BNP Paribas Arbitrage SA lifted its position in Provention Bio by 92.1% in the third quarter. BNP Paribas Arbitrage SA now owns 13,092 shares of the company’s stock valued at $84,000 after purchasing an additional 6,278 shares during the period. Finally, Price T Rowe Associates Inc. MD acquired a new stake in Provention Bio in the second quarter valued at about $85,000. Institutional investors and hedge funds own 42.86% of the company’s stock.

Provention Bio Company Profile

Provention Bio, Inc is a clinical-stage biopharmaceutical company, which engages in the development and commercialization of novel therapeutics and solutions. Its products include PRV-031 for the interception of type 1 diabetes (T1D); PRV-015 for the treatment of gluten-free diet non-responding celiac disease; PRV-6527 for Crohn’s disease; PRV-3279 for the treatment of lupus; and PRV-101 for the prevention of acute coxsackie virus B (CVB), and the prevention of type 1 diabetes (T1D) onset.

See Also: How the Dogs of the Dow Strategy Works

Analyst Recommendations for Provention Bio (NASDAQ:PRVB)

Receive News & Ratings for Provention Bio Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Provention Bio and related companies with MarketBeat.com's FREE daily email newsletter.