Provention Bio (NASDAQ:PRVB) Earns “Buy” Rating from HC Wainwright

Provention Bio (NASDAQ:PRVB)‘s stock had its “buy” rating restated by research analysts at HC Wainwright in a research report issued to clients and investors on Wednesday, June 26th, MarketBeat reports. They presently have a $20.00 price objective on the stock, up from their previous price objective of $8.00. HC Wainwright’s price target points to a potential upside of 73.76% from the stock’s previous close.

Several other brokerages also recently weighed in on PRVB. Zacks Investment Research downgraded G1 Therapeutics from a “buy” rating to a “hold” rating in a research note on Thursday, May 16th. Chardan Capital initiated coverage on Provention Bio in a research note on Monday, June 10th. They set a “buy” rating and a $20.00 price target on the stock. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Provention Bio presently has a consensus rating of “Buy” and an average price target of $12.19.

Shares of NASDAQ:PRVB traded down $0.55 on Wednesday, reaching $11.51. The company had a trading volume of 349,044 shares, compared to its average volume of 423,229. Provention Bio has a 52-week low of $1.52 and a 52-week high of $22.82. The business has a 50 day moving average of $10.22. The firm has a market capitalization of $450.56 million and a price-to-earnings ratio of -9.67.

Provention Bio (NASDAQ:PRVB) last announced its quarterly earnings results on Wednesday, May 8th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.18) by ($0.11). As a group, analysts predict that Provention Bio will post -1.19 earnings per share for the current fiscal year.

In other news, Director Anthony Digiandomenico purchased 10,000 shares of the stock in a transaction dated Thursday, June 20th. The stock was acquired at an average cost of $10.96 per share, for a total transaction of $109,600.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ashleigh Palmer acquired 4,000 shares of the firm’s stock in a transaction dated Tuesday, June 18th. The stock was bought at an average price of $10.83 per share, with a total value of $43,320.00. The disclosure for this purchase can be found here. Insiders have acquired 39,000 shares of company stock valued at $456,920 in the last three months. Insiders own 19.60% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. grew its holdings in Provention Bio by 26.4% during the fourth quarter. BlackRock Inc. now owns 26,235 shares of the company’s stock worth $46,000 after acquiring an additional 5,472 shares during the period. Vanguard Group Inc. acquired a new position in Provention Bio during the third quarter worth $2,859,000. Lido Advisors LLC acquired a new position in Provention Bio during the fourth quarter worth $47,000. Silverleafe Capital Partners LLC acquired a new position in Provention Bio during the first quarter worth $46,000. Finally, Alambic Investment Management L.P. acquired a new position in Provention Bio during the fourth quarter worth $29,000. Institutional investors own 1.77% of the company’s stock.

Provention Bio Company Profile

Provention Bio, Inc, a clinical stage biopharmaceutical company, focuses on the development and commercialization of novel therapeutics and cutting-edge solutions to intercept and prevent immune-mediated diseases. Its products candidates include PRV-031 teplizumab and monoclonal antibodies (mAb) that is in Phase III clinical trial for the interception of type one diabetes (T1D); PRV-6527, oral CSF-1R inhibitor, which is in Phase 2a clinical trial for the treatment of Crohn's disease; PRV-300, anti-TLR3 mAb, which is in Phase 1b clinical trial for the treatment of ulcerative colitis; PRV-3279 for the treatment of lupus; and PRV-101, a multivalent coxsackie virus vaccine for the prevention of acute Coxsackie Virus B Vaccine and the prevention of the onset of T1D.

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