ValuEngine cut shares of Principia Biopharma (NASDAQ:PRNB) from a hold rating to a sell rating in a research report released on Tuesday, ValuEngine reports.
Other equities research analysts have also issued reports about the stock. Stifel Nicolaus restated a buy rating on shares of Principia Biopharma in a report on Monday. HC Wainwright reaffirmed a buy rating and issued a $57.00 price objective on shares of Principia Biopharma in a research report on Monday. Finally, Zacks Investment Research lowered shares of Principia Biopharma from a buy rating to a hold rating in a research note on Saturday, November 9th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of Hold and a consensus target price of $46.25.
NASDAQ PRNB opened at $48.90 on Tuesday. The stock has a market cap of $1.23 billion, a price-to-earnings ratio of 85.79 and a beta of 1.08. The business has a 50 day simple moving average of $33.73 and a 200 day simple moving average of $34.35. Principia Biopharma has a 52-week low of $22.03 and a 52-week high of $49.74.
Principia Biopharma (NASDAQ:PRNB) last announced its quarterly earnings results on Tuesday, November 5th. The company reported ($0.93) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.85) by ($0.08). Principia Biopharma had a net margin of 11.88% and a negative return on equity of 11.95%. Analysts anticipate that Principia Biopharma will post -2 EPS for the current fiscal year.
In other news, insider David Goldstein sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $31.61, for a total transaction of $316,100.00. Also, Director Simeon George acquired 357,142 shares of the company’s stock in a transaction dated Friday, October 18th. The shares were bought at an average price of $31.12 per share, for a total transaction of $11,114,259.04. Insiders have bought a total of 491,242 shares of company stock valued at $15,517,679 over the last ninety days. Company insiders own 28.98% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the business. Bank of Montreal Can acquired a new stake in Principia Biopharma in the 2nd quarter valued at about $37,000. Public Employees Retirement System of Ohio bought a new position in shares of Principia Biopharma during the 2nd quarter worth approximately $59,000. Tower Research Capital LLC TRC boosted its stake in shares of Principia Biopharma by 1,786.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,132 shares of the company’s stock worth $71,000 after acquiring an additional 2,019 shares during the period. Meeder Asset Management Inc. acquired a new position in shares of Principia Biopharma during the 2nd quarter worth approximately $121,000. Finally, Metropolitan Life Insurance Co NY acquired a new position in shares of Principia Biopharma during the 3rd quarter worth approximately $136,000. Hedge funds and other institutional investors own 61.55% of the company’s stock.
Principia Biopharma Company Profile
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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