Principia Biopharma (NASDAQ:PRNB) was downgraded by Zacks Investment Research from a "buy" rating to a "hold" rating in a note issued to investors on Saturday, Zacks.com reports.
According to Zacks, "Principia Biopharma Inc. is a clinical stage biopharmaceutical company. It offers reversible covalent small molecule drugs for the treatment of cancers. The company's product pipeline consists of PRN1008, PRN1371 and PRN2246 which are in clinical stage. Principia Biopharma Inc. is based in San Francisco, United States. "
A number of other equities research analysts have also weighed in on PRNB. SVB Leerink lifted their target price on Principia Biopharma from $72.00 to $80.00 and gave the company an "outperform" rating in a research report on Friday, May 15th. Evercore ISI started coverage on Principia Biopharma in a report on Tuesday. They issued an "outperform" rating for the company. Robert W. Baird increased their target price on shares of Principia Biopharma from $64.00 to $78.00 and gave the stock an "outperform" rating in a report on Friday, April 24th. BidaskClub upgraded shares of Principia Biopharma from a "hold" rating to a "buy" rating in a report on Saturday, July 18th. Finally, Guggenheim assumed coverage on shares of Principia Biopharma in a research report on Monday, July 6th. They issued a "buy" rating and a $100.00 price target for the company. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Principia Biopharma currently has a consensus rating of "Buy" and a consensus price target of $84.00.
PRNB stock opened at $83.60 on Friday. Principia Biopharma has a 12 month low of $25.35 and a 12 month high of $94.91. The firm's 50-day moving average is $67.62 and its 200 day moving average is $62.11. The company has a market capitalization of $2.76 billion, a PE ratio of -34.26 and a beta of 0.61.
Principia Biopharma (NASDAQ:PRNB) last issued its earnings results on Wednesday, May 6th. The company reported ($0.99) EPS for the quarter, missing the Zacks' consensus estimate of ($0.79) by ($0.20). As a group, analysts predict that Principia Biopharma will post -3.48 earnings per share for the current fiscal year.
In other news, Director Alan Colowick sold 6,660 shares of the stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $60.00, for a total transaction of $399,600.00. Following the completion of the sale, the director now owns 840 shares in the company, valued at approximately $50,400. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Stefani Wolff sold 5,504 shares of the firm's stock in a transaction on Monday, June 15th. The stock was sold at an average price of $60.75, for a total value of $334,368.00. Following the completion of the sale, the insider now directly owns 24,200 shares of the company's stock, valued at approximately $1,470,150. The disclosure for this sale can be found here. Over the last three months, insiders have sold 68,164 shares of company stock valued at $4,467,928. Insiders own 28.98% of the company's stock.
Institutional investors have recently added to or reduced their stakes in the business. Stifel Financial Corp purchased a new stake in shares of Principia Biopharma during the fourth quarter worth about $215,000. Principal Financial Group Inc. acquired a new stake in Principia Biopharma during the 1st quarter valued at approximately $218,000. Arizona State Retirement System purchased a new stake in shares of Principia Biopharma in the 1st quarter valued at $320,000. Atom Investors LP acquired a new stake in shares of Principia Biopharma in the first quarter worth $422,000. Finally, Mackay Shields LLC acquired a new stake in shares of Principia Biopharma in the first quarter worth $451,000. Institutional investors own 92.49% of the company's stock.
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.
See Also: Return on Equity (ROE)
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