Stifel Nicolaus started coverage on shares of Principia Biopharma (NASDAQ:PRNB) in a research note released on Tuesday, The Fly reports. The brokerage issued a buy rating on the stock.
A number of other research analysts have also weighed in on PRNB. Zacks Investment Research lowered shares of Principia Biopharma from a buy rating to a sell rating in a research report on Wednesday, January 9th. Leerink Swann set a $42.00 price target on shares of Principia Biopharma and gave the company a buy rating in a research report on Thursday, March 21st. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Principia Biopharma presently has an average rating of Buy and an average target price of $42.00.
PRNB opened at $29.11 on Tuesday. Principia Biopharma has a fifty-two week low of $22.00 and a fifty-two week high of $38.34. The stock has a market cap of $663.70 million and a P/E ratio of 51.07.
Principia Biopharma (NASDAQ:PRNB) last released its quarterly earnings results on Tuesday, March 19th. The company reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.68. The firm had revenue of $26.14 million for the quarter, compared to the consensus estimate of $13.70 million. On average, research analysts predict that Principia Biopharma will post -2.51 EPS for the current fiscal year.
Hedge funds have recently made changes to their positions in the business. Strs Ohio bought a new stake in Principia Biopharma in the fourth quarter worth about $41,000. Citigroup Inc. bought a new stake in Principia Biopharma in the fourth quarter worth about $45,000. American International Group Inc. bought a new stake in Principia Biopharma in the fourth quarter worth about $103,000. Citadel Advisors LLC bought a new stake in Principia Biopharma in the third quarter worth about $211,000. Finally, Deutsche Bank AG bought a new stake in Principia Biopharma in the fourth quarter worth about $204,000. 81.91% of the stock is currently owned by institutional investors and hedge funds.
Principia Biopharma Company Profile
Principia Biopharma Inc, a clinical-stage biopharmaceutical company, focuses on developing novel oral therapies for immunology and oncology in the United States. It is developing PRN1008, an inhibitor that is in Phase II clinical trial for the treatment of pemphigus, a chronic skin disease, as well as in Phase II clinical trial for the treatment of immune thrombocytopenic purpura; PRN2246, an inhibitor that is in Phase I clinical trial for the treatment of multiple sclerosis and other central nervous system diseases; PRN1371, a drug candidate, which is in Phase I clinical trial for the treatment of solid tumors; and oral small molecule inhibitors of the immunoproteasome.
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