BidaskClub Upgrades Principia Biopharma (NASDAQ:PRNB) to “Strong-Buy”

Principia Biopharma (NASDAQ:PRNB) was upgraded by equities research analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a research report issued on Tuesday, BidAskClub reports.

Several other research analysts also recently issued reports on PRNB. Guggenheim downgraded Principia Biopharma from a “buy” rating to a “hold” rating in a research note on Tuesday, August 18th. Stifel Nicolaus downgraded shares of Principia Biopharma from a “buy” rating to a “hold” rating and cut their target price for the company from $104.00 to $100.00 in a research note on Wednesday, August 19th. Zacks Investment Research downgraded shares of Principia Biopharma from a “buy” rating to a “hold” rating in a research note on Thursday, August 13th. Robert W. Baird boosted their target price on shares of Principia Biopharma from $78.00 to $100.00 and gave the company an “outperform” rating in a research note on Tuesday, August 18th. Finally, SVB Leerink downgraded shares of Principia Biopharma from an “outperform” rating to a “market perform” rating and cut their target price for the company from $112.00 to $100.00 in a research note on Tuesday, August 18th. Six equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Principia Biopharma currently has an average rating of “Buy” and a consensus price target of $97.14.

NASDAQ:PRNB opened at $99.99 on Tuesday. The company has a market capitalization of $3.32 billion, a PE ratio of -41.49 and a beta of 0.86. Principia Biopharma has a 52-week low of $25.35 and a 52-week high of $101.89. The stock has a fifty day simple moving average of $94.91 and a 200-day simple moving average of $70.16.

Principia Biopharma (NASDAQ:PRNB) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.03) by $1.34. The firm had revenue of $50.00 million for the quarter, compared to analyst estimates of $50.00 million. On average, equities analysts forecast that Principia Biopharma will post -2.79 EPS for the current year.

In other news, Director Alan Colowick sold 7,500 shares of the business’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $60.00, for a total transaction of $450,000.00. Following the completion of the sale, the director now owns 7,500 shares in the company, valued at approximately $450,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Martin Babler sold 15,000 shares of the business’s stock in a transaction dated Tuesday, June 23rd. The stock was sold at an average price of $61.86, for a total value of $927,900.00. The disclosure for this sale can be found here. Insiders sold a total of 66,000 shares of company stock valued at $5,355,885 in the last 90 days. 16.01% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Swiss National Bank boosted its holdings in Principia Biopharma by 23.1% in the 2nd quarter. Swiss National Bank now owns 54,800 shares of the company’s stock worth $3,276,000 after acquiring an additional 10,300 shares during the period. BNP Paribas Arbitrage SA raised its position in shares of Principia Biopharma by 852.9% in the 1st quarter. BNP Paribas Arbitrage SA now owns 20,374 shares of the company’s stock valued at $1,210,000 after purchasing an additional 18,236 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Principia Biopharma by 10.7% in the 1st quarter. Geode Capital Management LLC now owns 299,787 shares of the company’s stock valued at $17,801,000 after purchasing an additional 29,001 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of Principia Biopharma by 200.5% in the 2nd quarter. Goldman Sachs Group Inc. now owns 373,720 shares of the company’s stock valued at $22,345,000 after purchasing an additional 249,365 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its position in shares of Principia Biopharma by 58.0% in the 2nd quarter. Russell Investments Group Ltd. now owns 22,050 shares of the company’s stock valued at $1,316,000 after purchasing an additional 8,092 shares in the last quarter. Hedge funds and other institutional investors own 95.54% 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.

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Analyst Recommendations for Principia Biopharma (NASDAQ:PRNB)

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