Principia Biopharma Inc (NASDAQ:PRNB)’s stock price shot up 7% during mid-day trading on Wednesday . The stock traded as high as $56.50 and last traded at $55.23, approximately 278,108 shares traded hands during mid-day trading. An increase of 0% from the average daily volume of 277,001 shares. The stock had previously closed at $51.60.
A number of brokerages have recently commented on PRNB. HC Wainwright reiterated a “buy” rating and issued a target price on shares of Principia Biopharma in a report on Tuesday, January 7th. ValuEngine lowered Principia Biopharma from a “hold” rating to a “sell” rating in a report on Tuesday, December 10th. Stifel Nicolaus restated a “buy” rating on shares of Principia Biopharma in a research report on Tuesday, December 31st. Finally, Zacks Investment Research lowered shares of Principia Biopharma from a “buy” rating to a “hold” rating in a research note on Saturday, January 11th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $58.25.
The business’s 50 day moving average is $51.10 and its 200 day moving average is $38.70. The stock has a market capitalization of $1.97 billion, a PE ratio of 110.75 and a beta of 1.37.
Principia Biopharma (NASDAQ:PRNB) last issued its quarterly earnings results on Tuesday, November 5th. The company reported ($0.93) EPS for the quarter, missing the 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%. On average, equities analysts expect that Principia Biopharma Inc will post -2.01 EPS for the current fiscal year.
In other Principia Biopharma news, Director Daniel J. Becker purchased 55,000 shares of the stock in a transaction dated Wednesday, November 20th. The shares were acquired at an average cost of $29.94 per share, for a total transaction of $1,646,700.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Daniel J. Becker acquired 77,600 shares of the company’s stock in a transaction dated Tuesday, October 29th. The shares were acquired at an average cost of $35.50 per share, with a total value of $2,754,800.00. In the last 90 days, insiders sold 46,000 shares of company stock valued at $2,188,962. Company insiders own 28.98% of the company’s stock.
Several institutional investors have recently modified their holdings of PRNB. Wells Fargo & Company MN increased its stake in shares of Principia Biopharma by 129.5% during the 2nd quarter. Wells Fargo & Company MN now owns 25,251 shares of the company’s stock worth $838,000 after purchasing an additional 14,248 shares during the last quarter. Russell Investments Group Ltd. raised its position in Principia Biopharma by 86.4% during the second quarter. Russell Investments Group Ltd. now owns 12,902 shares of the company’s stock worth $427,000 after acquiring an additional 5,982 shares during the last quarter. Bank of Montreal Can purchased a new stake in shares of Principia Biopharma in the second quarter valued at about $37,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Principia Biopharma by 38.7% in the second quarter. Charles Schwab Investment Management Inc. now owns 61,767 shares of the company’s stock valued at $2,051,000 after purchasing an additional 17,237 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of Principia Biopharma by 138.0% in the second quarter. Bank of New York Mellon Corp now owns 44,996 shares of the company’s stock valued at $1,494,000 after purchasing an additional 26,087 shares during the last quarter. Hedge funds and other institutional investors own 61.55% of the company’s stock.
About Principia Biopharma (NASDAQ:PRNB)
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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