Zacks: Analysts Expect Principia Biopharma Inc (NASDAQ:PRNB) Will Announce Quarterly Sales of $4.35 Million

Wall Street brokerages predict that Principia Biopharma Inc (NASDAQ:PRNB) will report $4.35 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Principia Biopharma’s earnings. The lowest sales estimate is $690,000.00 and the highest is $8.00 million. Principia Biopharma posted sales of $26.14 million in the same quarter last year, which would indicate a negative year-over-year growth rate of 83.4%. The business is scheduled to report its next earnings report on Tuesday, March 17th.

According to Zacks, analysts expect that Principia Biopharma will report full year sales of $37.27 million for the current fiscal year, with estimates ranging from $35.00 million to $43.00 million. For the next fiscal year, analysts anticipate that the business will report sales of $25.23 million, with estimates ranging from $8.00 million to $48.00 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that follow Principia Biopharma.

Principia Biopharma (NASDAQ:PRNB) last issued its quarterly earnings data on Tuesday, November 5th. The company reported ($0.93) EPS for the quarter, missing analysts’ consensus estimates of ($0.85) by ($0.08). Principia Biopharma had a negative return on equity of 11.95% and a net margin of 11.88%.

PRNB has been the topic of a number of research analyst reports. ValuEngine upgraded shares of Principia Biopharma from a “sell” rating to a “hold” rating in a report on Tuesday, November 19th. HC Wainwright set a $57.00 price objective on shares of Principia Biopharma and gave the stock a “buy” rating in a report on Monday, October 21st. Zacks Investment Research lowered shares of Principia Biopharma from a “buy” rating to a “hold” rating in a report on Saturday, November 9th. Finally, Stifel Nicolaus restated a “buy” rating and set a $51.00 price objective (up from $45.00) on shares of Principia Biopharma in a report on Thursday, October 10th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $46.25.

In other Principia Biopharma news, Director Daniel J. Becker purchased 55,000 shares of the stock in a transaction on Wednesday, November 20th. The shares were purchased at an average cost of $29.94 per share, for a total transaction of $1,646,700.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider David Goldstein sold 10,000 shares of Principia Biopharma stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $31.61, for a total transaction of $316,100.00. Over the last 90 days, insiders have purchased 491,242 shares of company stock worth $15,517,679. 28.98% of the stock is currently owned by company insiders.

A number of hedge funds have recently modified their holdings of the business. BlackRock Inc. increased its stake in Principia Biopharma by 119.9% in the 2nd quarter. BlackRock Inc. now owns 982,215 shares of the company’s stock valued at $32,600,000 after buying an additional 535,495 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in Principia Biopharma by 1.0% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 922,952 shares of the company’s stock valued at $30,633,000 after buying an additional 8,970 shares during the last quarter. Redmile Group LLC increased its stake in Principia Biopharma by 223.6% in the 3rd quarter. Redmile Group LLC now owns 790,006 shares of the company’s stock valued at $22,310,000 after buying an additional 545,906 shares during the last quarter. Vanguard Group Inc. increased its stake in Principia Biopharma by 98.2% in the 2nd quarter. Vanguard Group Inc. now owns 574,862 shares of the company’s stock valued at $19,079,000 after buying an additional 284,762 shares during the last quarter. Finally, Pictet Asset Management Ltd. acquired a new stake in Principia Biopharma in the 3rd quarter valued at $7,898,000. Hedge funds and other institutional investors own 61.57% of the company’s stock.

Shares of NASDAQ:PRNB traded up $0.85 during midday trading on Friday, reaching $36.12. 364,575 shares of the company were exchanged, compared to its average volume of 150,096. Principia Biopharma has a fifty-two week low of $22.03 and a fifty-two week high of $42.34. The stock has a fifty day simple moving average of $32.42 and a two-hundred day simple moving average of $34.09. The firm has a market cap of $1.17 billion, a PE ratio of 63.37 and a beta of 1.08.

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.

Read More: What Does a Sell-Side Analyst Rating Mean?

Get a free copy of the Zacks research report on Principia Biopharma (PRNB)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Principia Biopharma Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Principia Biopharma and related companies with MarketBeat.com's FREE daily email newsletter.