Q2 2020 EPS Estimates for Provention Bio Inc Boosted by Analyst (NASDAQ:PRVB)

Provention Bio Inc (NASDAQ:PRVB) – SVB Leerink upped their Q2 2020 earnings estimates for shares of Provention Bio in a research report issued to clients and investors on Wednesday, July 29th. SVB Leerink analyst T. Smith now expects that the company will earn ($0.27) per share for the quarter, up from their prior forecast of ($0.29). SVB Leerink also issued estimates for Provention Bio’s Q3 2020 earnings at ($0.29) EPS, Q4 2020 earnings at ($0.32) EPS, FY2020 earnings at ($1.15) EPS, FY2021 earnings at ($1.22) EPS, FY2022 earnings at ($1.38) EPS, FY2023 earnings at $1.13 EPS and FY2024 earnings at $2.70 EPS.

Provention Bio (NASDAQ:PRVB) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.01).

A number of other analysts have also weighed in on the company. BidaskClub lowered Provention Bio from a “hold” rating to a “sell” rating in a report on Tuesday, July 28th. Royal Bank of Canada started coverage on Provention Bio in a report on Thursday, June 4th. They set an “outperform” rating and a $25.00 target price for the company. HC Wainwright restated a “buy” rating and set a $26.00 target price on shares of Provention Bio in a report on Thursday, July 2nd. ValuEngine lowered Provention Bio from a “buy” rating to a “hold” rating in a report on Saturday, June 20th. Finally, Zacks Investment Research lowered Provention Bio from a “buy” rating to a “hold” rating in a report on Saturday, June 6th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $28.00.

Shares of NASDAQ PRVB opened at $10.39 on Friday. The stock has a 50 day moving average price of $13.59 and a 200 day moving average price of $12.67. The firm has a market capitalization of $503.60 million, a price-to-earnings ratio of -9.99 and a beta of 3.96. Provention Bio has a 52-week low of $4.72 and a 52-week high of $18.50.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PRVB. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Provention Bio in the 2nd quarter valued at $27,000. Liberty One Investment Management LLC acquired a new stake in Provention Bio during the 2nd quarter worth about $40,000. Ladenburg Thalmann Financial Services Inc. acquired a new stake in Provention Bio during the 4th quarter worth about $47,000. Citigroup Inc. acquired a new stake in Provention Bio during the 4th quarter worth about $54,000. Finally, Fred Alger Management LLC acquired a new stake in Provention Bio during the 1st quarter worth about $64,000. 21.55% of the stock is currently owned by hedge funds and other institutional investors.

In other news, insider Francisco Leon bought 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 24th. The shares were purchased at an average cost of $15.43 per share, with a total value of $30,860.00. Corporate insiders own 14.40% of the company’s stock.

Provention Bio Company Profile

Provention Bio, Inc, a clinical stage biopharmaceutical company, focuses on the development and commercialization of novel therapeutics and cutting-edge solutions to intercept and prevent immune-mediated diseases. Its products candidates include PRV-031 teplizumab and monoclonal antibodies (mAb) that is in Phase III clinical trial for the interception of type one diabetes (T1D); PRV-6527, oral CSF-1R inhibitor, which is in Phase 2a clinical trial for the treatment of Crohn's disease; PRV-300, anti-TLR3 mAb, which is in Phase 1b clinical trial for the treatment of ulcerative colitis; PRV-3279 for the treatment of lupus; and PRV-101, a multivalent coxsackie virus vaccine for the prevention of acute Coxsackie Virus B Vaccine and the prevention of the onset of T1D.

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Earnings History and Estimates for Provention Bio (NASDAQ:PRVB)

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