Principia Biopharma (NASDAQ:PRNB) Rating Lowered to Sell at ValuEngine

ValuEngine downgraded shares of Principia Biopharma (NASDAQ:PRNB) from a hold rating to a sell rating in a report issued on Saturday morning, ValuEngine reports.

A number of other analysts also recently weighed in on PRNB. HC Wainwright reissued a buy rating and issued a $55.00 price target on shares of Principia Biopharma in a report on Tuesday, July 30th. Stifel Nicolaus reissued a buy rating and issued a $45.00 price target on shares of Principia Biopharma in a report on Sunday, August 11th. Finally, Zacks Investment Research downgraded shares of Principia Biopharma from a hold rating to a sell rating in a report on Wednesday, July 10th. Two investment analysts have rated the stock with a sell rating and six have assigned a buy rating to the company. Principia Biopharma currently has an average rating of Buy and an average price target of $46.00.

Principia Biopharma stock traded up $0.69 during mid-day trading on Friday, reaching $28.52. The company had a trading volume of 67,832 shares, compared to its average volume of 136,295. Principia Biopharma has a 52 week low of $22.00 and a 52 week high of $42.34. The company has a 50 day moving average of $34.88 and a 200-day moving average of $33.94. The firm has a market cap of $672.20 million and a price-to-earnings ratio of 50.04.

Principia Biopharma (NASDAQ:PRNB) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.65) by $0.93. Principia Biopharma had a net margin of 11.88% and a return on equity of 5.76%. The firm had revenue of $30.00 million during the quarter, compared to the consensus estimate of $6.16 million. On average, equities research analysts predict that Principia Biopharma will post -2.03 EPS for the current year.

In other news, major shareholder Leaf Ventures Ii L.P. New sold 300,000 shares of the stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $35.00, for a total value of $10,500,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 28.98% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. Bank of Montreal Can acquired a new stake in shares of Principia Biopharma during the 2nd quarter worth about $37,000. BNP Paribas Arbitrage SA acquired a new stake in shares of Principia Biopharma during the 1st quarter worth about $40,000. Public Employees Retirement System of Ohio acquired a new stake in shares of Principia Biopharma during the 2nd quarter worth about $59,000. Tower Research Capital LLC TRC increased its position in shares of Principia Biopharma by 1,786.7% during the 2nd 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. acquired a new stake in shares of Principia Biopharma during the 2nd quarter worth about $121,000. Institutional investors own 84.33% of the company’s stock.

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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Analyst Recommendations for Principia Biopharma (NASDAQ:PRNB)

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