Principia Biopharma (NASDAQ:PRNB) posted its earnings results on Tuesday, May 7th. The company reported ($0.57) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.62) by $0.05, Fidelity Earnings reports. The company had revenue of $5.16 million for the quarter, compared to analysts’ expectations of $8.00 million.
NASDAQ:PRNB opened at $29.96 on Friday. The company has a market capitalization of $721.25 million and a P/E ratio of 52.56. Principia Biopharma has a 1-year low of $22.00 and a 1-year high of $38.34.
In related news, major shareholder Orbimed Advisors Llc sold 1,000,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $30.25, for a total value of $30,250,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 28.98% of the company’s stock.
Several research analysts have recently commented on the company. Zacks Investment Research lowered Principia Biopharma from a “hold” rating to a “sell” rating in a report on Thursday. Leerink Swann set a $42.00 price objective on Principia Biopharma and gave the stock a “buy” rating in a report on Thursday, March 21st. Finally, Stifel Nicolaus initiated coverage on Principia Biopharma in a report on Tuesday, April 16th. They set a “buy” rating and a $45.00 price objective for the company. One equities research analyst has rated the stock with a sell rating and five have given a buy rating to the company’s stock. Principia Biopharma presently has a consensus rating of “Buy” and a consensus target price of $43.00.
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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