Principia Biopharma (NASDAQ:PRNB) Posts Quarterly Earnings Results, Misses Expectations By $0.08 EPS

Principia Biopharma (NASDAQ:PRNB) announced its earnings results on Tuesday. The company reported ($0.93) EPS for the quarter, missing the consensus estimate of ($0.85) by ($0.08), Fidelity Earnings reports. Principia Biopharma had a net margin of 11.88% and a negative return on equity of 11.71%.

PRNB stock traded down $0.29 during trading on Friday, reaching $31.61. 147,114 shares of the stock were exchanged, compared to its average volume of 143,279. The firm’s 50 day moving average is $31.10 and its 200 day moving average is $33.77. Principia Biopharma has a twelve month low of $22.03 and a twelve month high of $42.34. The firm has a market cap of $838.86 million, a P/E ratio of 55.46 and a beta of 1.12.

Several equities research analysts recently commented on the company. ValuEngine lowered Principia Biopharma from a “hold” rating to a “sell” rating in a research report on Friday, October 11th. Zacks Investment Research raised Principia Biopharma from a “hold” rating to a “buy” rating and set a $35.00 price target on the stock in a research note on Thursday, October 24th. HC Wainwright set a $57.00 price target on Principia Biopharma and gave the stock a “buy” rating in a research note on Monday, October 21st. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $51.00 price target (up from $45.00) on shares of Principia Biopharma in a research note on Thursday, October 10th. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. Principia Biopharma currently has a consensus rating of “Buy” and a consensus target price of $46.25.

In related news, major shareholder Leaf Ventures Ii L.P. New sold 300,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $35.00, for a total transaction of $10,500,000.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Daniel J. Becker acquired 77,600 shares of the stock in a transaction dated Tuesday, October 29th. The stock was bought at an average cost of $35.50 per share, with a total value of $2,754,800.00. Over the last ninety days, insiders have purchased 436,242 shares of company stock worth $13,870,979. 28.98% of the stock is owned by company insiders.

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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