Principia Biopharma Inc (NASDAQ:PRNB) Expected to Announce Quarterly Sales of $5.32 Million

Equities research analysts predict that Principia Biopharma Inc (NASDAQ:PRNB) will report sales of $5.32 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Principia Biopharma’s earnings. The highest sales estimate is $8.00 million and the lowest is $2.64 million. Principia Biopharma reported sales of $18.56 million during the same quarter last year, which would suggest a negative year over year growth rate of 71.3%. The firm is scheduled to announce its next earnings report on Tuesday, November 5th.

According to Zacks, analysts expect that Principia Biopharma will report full-year sales of $34.29 million for the current year, with estimates ranging from $10.00 million to $50.00 million. For the next 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 averages are a mean average based on a survey of research analysts that follow Principia Biopharma.

Principia Biopharma (NASDAQ:PRNB) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.28 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.65) by $0.93. Principia Biopharma had a net margin of 11.88% and a return on equity of 5.76%. The company had revenue of $30.00 million during the quarter, compared to analyst estimates of $6.16 million.



PRNB has been the subject of a number of analyst reports. Stifel Nicolaus reaffirmed a “buy” rating and set a $45.00 price objective on shares of Principia Biopharma in a research note on Sunday, August 11th. HC Wainwright reaffirmed a “buy” rating and set a $55.00 price objective on shares of Principia Biopharma in a research note on Tuesday, July 30th. Finally, Zacks Investment Research lowered shares of Principia Biopharma from a “hold” rating to a “sell” rating in a research note on Wednesday, July 10th. One research analyst has rated the stock with a sell rating and six have issued a buy rating to the company. Principia Biopharma has a consensus rating of “Buy” and a consensus target price of $46.00.

Shares of NASDAQ:PRNB traded down $1.85 during trading hours on Friday, hitting $30.90. 6,114 shares of the company’s stock traded hands, compared to its average volume of 149,734. Principia Biopharma has a 52 week low of $22.00 and a 52 week high of $42.34. The company has a market cap of $815.25 million and a price-to-earnings ratio of 54.21. The company’s fifty day simple moving average is $36.70 and its two-hundred day simple moving average is $34.19.

In other Principia Biopharma news, major shareholder Leaf Ventures Ii L.P. New sold 300,000 shares of the company’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $35.00, for a total transaction of $10,500,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 28.98% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of Montreal Can purchased a new stake in shares of Principia Biopharma in the second quarter worth approximately $37,000. BNP Paribas Arbitrage SA purchased a new stake in shares of Principia Biopharma in the first quarter worth approximately $40,000. Public Employees Retirement System of Ohio purchased a new stake in shares of Principia Biopharma in the second quarter worth approximately $59,000. Tower Research Capital LLC TRC lifted its position in shares of Principia Biopharma by 1,786.7% in the second quarter. Tower Research Capital LLC TRC now owns 2,132 shares of the company’s stock worth $71,000 after purchasing an additional 2,019 shares in the last quarter. Finally, Meeder Asset Management Inc. purchased a new stake in shares of Principia Biopharma in the second quarter worth approximately $121,000. 84.33% of the stock is owned by institutional investors and hedge funds.

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.

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