Zacks Investment Research upgraded shares of PRA Health Sciences (NASDAQ:PRAH) from a hold rating to a buy rating in a report published on Wednesday morning. The brokerage currently has $101.00 target price on the medical research company’s stock.
According to Zacks, “PRA Health Sciences, Inc. operates as a global contract research organizations providing outsourced clinical development services to the biotechnology and pharmaceutical industries. It offers therapeutic services in the areas of cardio-metabolic, biosimilars, infectious diseases, immunology, neurology and psychiatry, oncology and hematology, rare diseases, and respiratory needs. The Company engages in bioanalytical laboratory, clinical pharmacology, clinical development, strategic solutions, post marketing research, clinical informatics, clinical diagnostics, and safety and risk management activities. PRA Health Sciences, Inc. is based in Raleigh, North Carolina. “
Several other equities analysts have also recently weighed in on PRAH. Mizuho initiated coverage on PRA Health Sciences in a report on Thursday, September 21st. They set a buy rating and a $82.00 price target on the stock. Robert W. Baird restated a buy rating and issued a $88.00 price objective on shares of PRA Health Sciences in a research note on Monday, October 9th. Credit Suisse Group restated an outperform rating and issued a $90.00 price objective (up from $84.00) on shares of PRA Health Sciences in a research note on Monday, October 16th. Jefferies Group restated a buy rating and issued a $95.00 price objective on shares of PRA Health Sciences in a research note on Thursday, October 26th. Finally, SunTrust Banks restated a buy rating and issued a $101.00 price objective on shares of PRA Health Sciences in a research note on Friday, October 27th. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus target price of $91.85.
PRA Health Sciences (PRAH) traded up $0.79 during midday trading on Wednesday, hitting $92.89. The stock had a trading volume of 349,829 shares, compared to its average volume of 501,050. The company has a market cap of $5,890.00, a PE ratio of 52.19, a price-to-earnings-growth ratio of 1.26 and a beta of 0.41. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.01 and a quick ratio of 1.01. PRA Health Sciences has a 12-month low of $54.08 and a 12-month high of $92.92.
PRA Health Sciences (NASDAQ:PRAH) last released its quarterly earnings results on Wednesday, October 25th. The medical research company reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.03. The firm had revenue of $494.55 million for the quarter, compared to analysts’ expectations of $477.89 million. PRA Health Sciences had a return on equity of 21.66% and a net margin of 5.64%. The company’s revenue was up 23.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.64 EPS. analysts expect that PRA Health Sciences will post 3.2 EPS for the current fiscal year.
In other news, insider David W. Dockhorn sold 72,850 shares of the company’s stock in a transaction on Thursday, December 28th. The stock was sold at an average price of $90.83, for a total value of $6,616,965.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Matthew P. Young sold 5,115 shares of the company’s stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $79.90, for a total value of $408,688.50. The disclosure for this sale can be found here. Insiders sold a total of 217,815 shares of company stock valued at $19,690,710 over the last 90 days. 2.10% of the stock is currently owned by company insiders.
Hedge funds have recently modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in PRA Health Sciences by 12.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,488 shares of the medical research company’s stock worth $112,000 after buying an additional 160 shares in the last quarter. Carroll Financial Associates Inc. increased its stake in PRA Health Sciences by 127.4% in the 3rd quarter. Carroll Financial Associates Inc. now owns 1,410 shares of the medical research company’s stock worth $112,000 after buying an additional 790 shares in the last quarter. Comerica Bank purchased a new stake in PRA Health Sciences in the 3rd quarter worth $214,000. Trustmark National Bank Trust Department purchased a new stake in PRA Health Sciences in the 2nd quarter worth $225,000. Finally, Vident Investment Advisory LLC purchased a new stake in PRA Health Sciences in the 3rd quarter worth $247,000. Institutional investors and hedge funds own 98.23% of the company’s stock.
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About PRA Health Sciences
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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