PRA Health Sciences Inc (NASDAQ:PRAH) Short Interest Update

PRA Health Sciences Inc (NASDAQ:PRAH) was the recipient of a large growth in short interest during the month of January. As of January 31st, there was short interest totalling 2,460,000 shares, a growth of 17.7% from the January 15th total of 2,090,000 shares. Based on an average trading volume of 523,200 shares, the days-to-cover ratio is presently 4.7 days. Currently, 3.9% of the company’s stock are sold short.

Several large investors have recently modified their holdings of the business. Quadrant Capital Group LLC acquired a new stake in PRA Health Sciences during the third quarter worth about $38,000. Cullen Frost Bankers Inc. boosted its stake in PRA Health Sciences by 232.5% in the third quarter. Cullen Frost Bankers Inc. now owns 409 shares of the medical research company’s stock valued at $40,000 after acquiring an additional 286 shares during the period. Squar Milner Financial Services LLC grew its holdings in shares of PRA Health Sciences by 172.8% during the fourth quarter. Squar Milner Financial Services LLC now owns 431 shares of the medical research company’s stock valued at $47,000 after purchasing an additional 273 shares during the last quarter. C M Bidwell & Associates Ltd. bought a new position in shares of PRA Health Sciences during the fourth quarter valued at approximately $52,000. Finally, CENTRAL TRUST Co raised its position in shares of PRA Health Sciences by 20.5% during the 3rd quarter. CENTRAL TRUST Co now owns 792 shares of the medical research company’s stock worth $79,000 after purchasing an additional 135 shares during the period. 98.34% of the stock is currently owned by institutional investors.

PRAH has been the subject of several recent analyst reports. Zacks Investment Research lowered shares of PRA Health Sciences from a “hold” rating to a “sell” rating and set a $116.00 price objective for the company. in a report on Tuesday, December 31st. Citigroup started coverage on shares of PRA Health Sciences in a research note on Monday, January 6th. They issued a “neutral” rating and a $120.00 target price on the stock. Wolfe Research raised shares of PRA Health Sciences from a “peer perform” rating to an “outperform” rating and set a $123.00 price target on the stock in a research report on Thursday, November 14th. BidaskClub downgraded PRA Health Sciences from a “buy” rating to a “hold” rating in a research note on Saturday, January 11th. Finally, Goldman Sachs Group downgraded PRA Health Sciences from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $130.00 to $120.00 in a research note on Friday, January 10th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $116.40.

PRA Health Sciences stock traded up $1.06 during mid-day trading on Friday, reaching $111.22. The company’s stock had a trading volume of 261,314 shares, compared to its average volume of 439,688. The firm has a market cap of $6.97 billion, a price-to-earnings ratio of 30.89, a PEG ratio of 1.44 and a beta of 1.21. The business has a 50 day moving average price of $106.55 and a 200-day moving average price of $102.69. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 1.65. PRA Health Sciences has a twelve month low of $85.00 and a twelve month high of $115.50.

PRA Health Sciences Company Profile

PRA Health Sciences, Inc, a contract research organization, provides outsourced clinical development and data solution services to the biotechnology and pharmaceutical industries worldwide. The company operates in two segments, Clinical Research and Data Solutions. The Clinical Research segment offers product registration services, including clinical trial management, project management, regulatory affairs, therapeutic expertise, clinical operations, data and programming, safety and risk management, biostatistics and medical writing, quality assurance, and late phase services.

Further Reading: The limitations of an equal weight rating

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