Other equities analysts have also recently issued research reports about the stock. Stifel Nicolaus cut shares of Principia Biopharma from a buy rating to a hold rating and lowered their price objective for the stock from $104.00 to $100.00 in a research note on Wednesday, August 19th. HC Wainwright cut shares of Principia Biopharma from a buy rating to a neutral rating and lowered their price objective for the stock from $108.00 to $100.00 in a research note on Monday, August 17th. Robert W. Baird increased their target price on shares of Principia Biopharma from $78.00 to $100.00 and gave the stock an outperform rating in a report on Tuesday, August 18th. Guggenheim lowered shares of Principia Biopharma from a buy rating to a hold rating in a report on Tuesday, August 18th. Finally, SVB Leerink lowered shares of Principia Biopharma from an outperform rating to a market perform rating and reduced their target price for the stock from $112.00 to $100.00 in a report 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 given a strong buy rating to the company. The stock currently has an average rating of Buy and a consensus price target of $97.14.
PRNB opened at $99.96 on Tuesday. The company’s 50-day simple moving average is $94.68 and its two-hundred day simple moving average is $70.00. Principia Biopharma has a 52-week low of $25.35 and a 52-week high of $101.89. The stock has a market capitalization of $3.32 billion, a P/E ratio of -41.48 and a beta of 0.86.
In other Principia Biopharma news, insider David M. Goldstein sold 6,000 shares of the stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $88.61, for a total transaction of $531,660.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Dolca Thomas sold 15,000 shares of the stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $100.00, for a total transaction of $1,500,000.00. Following the sale, the insider now directly owns 16,826 shares of the company’s stock, valued at $1,682,600. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 66,000 shares of company stock valued at $5,355,885. Insiders own 16.01% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. Macquarie Group Ltd. purchased a new position in shares of Principia Biopharma in the second quarter valued at $57,000. First Mercantile Trust Co. bought a new stake in Principia Biopharma in the second quarter worth $114,000. Bank of Montreal Can bought a new stake in Principia Biopharma in the second quarter worth $139,000. Ameritas Investment Partners Inc. lifted its position in Principia Biopharma by 64.3% in the second quarter. Ameritas Investment Partners Inc. now owns 2,598 shares of the company’s stock worth $155,000 after buying an additional 1,017 shares during the last quarter. Finally, Principal Financial Group Inc. bought a new stake in shares of Principia Biopharma during the first quarter worth $218,000. 95.54% of the stock is owned by hedge funds and other institutional investors.
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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