In a report released yesterday, Jim Birchenough from Wells Fargo maintained a Buy rating on Principia Biopharma (PRNB – Research Report). The company’s shares closed last Monday at $69.01, close to its 52-week high of $69.38.
According to TipRanks.com, Birchenough is a 5-star analyst with an average return of 20.7% and a 50.6% success rate. Birchenough covers the Healthcare sector, focusing on stocks such as Global Blood Therapeutics, Crispr Therapeutics AG, and Ionis Pharmaceuticals.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Principia Biopharma with a $67.00 average price target, an 8.2% upside from current levels. In a report issued on January 23, Merrill Lynch also maintained a Buy rating on the stock with a $68.00 price target.
Based on Principia Biopharma’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $22.3 million. In comparison, last year the company had a net profit of $4.92 million.
Based on the recent corporate insider activity of 12 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of PRNB in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Principia Biopharma, Inc. is a biopharmaceutical company, which engages in design and development oral therapies to patients with significant unmet medical needs in immunology and oncology. It operates through Tailored Covalency platform, which enables to purpose-design and develop small molecule inhibitors of enzymes and receptor ligands with potencies and selectivities that rival those of injectable biologics, yet maintain the convenience of a pill. Its product pipeline include PRN1008, PRN2246, PRN1371, and immunoproteasome inhibitor. The company was founded by Jack Taunton and Richard A. Miller on October 28, 2008 and is headquartered in South San Francisco, CA.