Principia Biopharma (NASDAQ:PRNB) Lowered to “Hold” at Zacks Investment Research

Zacks Investment Research downgraded shares of Principia Biopharma (NASDAQ:PRNB) from a buy rating to a hold rating in a research report released on Saturday morning, Zacks.com reports.

According to Zacks, “Principia Biopharma Inc. is a clinical stage biopharmaceutical company. It offers reversible covalent small molecule drugs for the treatment of cancers. The company’s product pipeline consists of PRN1008, PRN1371 and PRN2246 which are in clinical stage. Principia Biopharma Inc. is based in San Francisco, United States. “

Several other analysts have also weighed in on PRNB. ValuEngine lowered Principia Biopharma from a hold rating to a sell rating in a report on Friday, October 11th. HC Wainwright set a $57.00 price objective on Principia Biopharma and gave the company a buy rating in a report on Monday, October 21st. Finally, Stifel Nicolaus reissued a buy rating and issued a $51.00 price objective (up from $45.00) on shares of Principia Biopharma in a report on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of Hold and a consensus target price of $46.25.

Principia Biopharma stock traded down $0.29 during midday trading on Friday, reaching $31.61. The stock had a trading volume of 147,100 shares, compared to its average volume of 143,279. The stock has a market capitalization of $838.86 million, a PE ratio of 55.46 and a beta of 1.12. Principia Biopharma has a twelve month low of $22.03 and a twelve month high of $42.34. The stock’s 50-day simple moving average is $31.04 and its 200 day simple moving average is $33.78.

Principia Biopharma (NASDAQ:PRNB) last announced its quarterly earnings data on Tuesday, November 5th. The company reported ($0.93) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.85) by ($0.08). Principia Biopharma had a net margin of 11.88% and a negative return on equity of 11.71%. Analysts predict that Principia Biopharma will post -1.95 EPS for the current year.

In other 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Daniel J. Becker bought 77,600 shares of the stock in a transaction dated Tuesday, October 29th. The shares were bought at an average cost of $35.50 per share, with a total value of $2,754,800.00. Insiders have bought 436,242 shares of company stock valued at $13,870,979 over the last ninety days. Corporate insiders own 28.98% of the company’s stock.

Several large investors have recently bought and sold shares of the company. Russell Investments Group Ltd. grew its holdings in shares of Principia Biopharma by 86.5% during the third quarter. Russell Investments Group Ltd. now owns 24,067 shares of the company’s stock valued at $680,000 after purchasing an additional 11,165 shares during the last quarter. Strs Ohio bought a new position in shares of Principia Biopharma during the third quarter valued at approximately $384,000. Susquehanna International Group LLP bought a new position in shares of Principia Biopharma during the second quarter valued at approximately $567,000. Nuveen Asset Management LLC bought a new position in shares of Principia Biopharma during the second quarter valued at approximately $1,885,000. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of Principia Biopharma by 1.0% during the second quarter. Price T Rowe Associates Inc. MD now owns 922,952 shares of the company’s stock valued at $30,633,000 after purchasing an additional 8,970 shares during the last quarter. 83.76% of the stock is owned by 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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