Principia Biopharma’s (PRNB) Buy Rating Reaffirmed at HC Wainwright

Principia Biopharma (NASDAQ:PRNB)‘s stock had its “buy” rating restated by analysts at HC Wainwright in a report issued on Tuesday, January 7th, The Fly reports. They presently have a price objective on the stock.

PRNB has been the subject of a number of other research reports. ValuEngine cut Principia Biopharma from a “hold” rating to a “sell” rating in a research note on Tuesday, December 10th. Stifel Nicolaus restated a “buy” rating on shares of Principia Biopharma in a research note on Tuesday, December 31st. Finally, Zacks Investment Research upgraded Principia Biopharma from a “hold” rating to a “buy” rating and set a $62.00 target price for the company in a research note on Saturday, January 4th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $58.25.

Shares of PRNB stock opened at $55.23 on Tuesday. The stock has a market capitalization of $1.69 billion, a PE ratio of 96.89 and a beta of 1.37. Principia Biopharma has a 1-year low of $25.35 and a 1-year high of $61.07. The business has a 50-day moving average of $50.08 and a 200 day moving average of $38.43.

Principia Biopharma (NASDAQ:PRNB) last released its earnings results on Tuesday, November 5th. The company reported ($0.93) EPS 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%. Research analysts anticipate that Principia Biopharma will post -2.01 EPS for the current fiscal year.

In other Principia Biopharma news, insider Dolca Thomas sold 495 shares of Principia Biopharma stock in a transaction on Thursday, December 19th. The stock was sold at an average price of $60.00, for a total value of $29,700.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Martin Babler sold 25,000 shares of Principia Biopharma stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $52.96, for a total value of $1,324,000.00. The disclosure for this sale can be found here. In the last three months, insiders acquired 489,742 shares of company stock valued at $15,515,759 and sold 46,000 shares valued at $2,188,962. 28.98% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of the stock. Metropolitan Life Insurance Co NY bought a new stake in shares of Principia Biopharma in the third quarter worth $136,000. Redmile Group LLC lifted its position in Principia Biopharma by 223.6% during the third quarter. Redmile Group LLC now owns 790,006 shares of the company’s stock valued at $22,310,000 after purchasing an additional 545,906 shares in the last quarter. Pictet Asset Management Ltd. purchased a new position in Principia Biopharma during the third quarter valued at $7,898,000. State Street Corp lifted its position in Principia Biopharma by 4.4% during the third quarter. State Street Corp now owns 250,774 shares of the company’s stock valued at $7,082,000 after purchasing an additional 10,668 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its position in Principia Biopharma by 86.5% during the third quarter. Russell Investments Group Ltd. now owns 24,067 shares of the company’s stock valued at $680,000 after purchasing an additional 11,165 shares in the last quarter. 61.55% of the stock is owned by institutional investors.

About Principia Biopharma

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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