Provention Bio (NASDAQ:PRVB) had its price target hoisted by equities research analysts at Leerink Swann from $17.00 to $35.00 in a report released on Monday, The Fly reports. The brokerage presently has an “outperform” rating on the stock. Leerink Swann’s target price indicates a potential upside of 252.47% from the stock’s previous close.
PRVB has been the subject of a number of other research reports. Zacks Investment Research cut Provention Bio from a “buy” rating to a “hold” rating in a report on Thursday, May 16th. HC Wainwright reissued a “buy” rating and set a $20.00 target price (up previously from $8.00) on shares of Provention Bio in a report on Wednesday, June 26th. Finally, Chardan Capital assumed coverage on Provention Bio in a report on Monday, June 10th. They set a “buy” rating and a $20.00 target price for the company. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $16.75.
NASDAQ PRVB opened at $9.93 on Monday. The firm has a market cap of $397.90 million and a PE ratio of -8.34. Provention Bio has a twelve month low of $1.52 and a twelve month high of $22.82. The business has a 50-day simple moving average of $11.52.
In other news, Director Anthony Digiandomenico bought 10,000 shares of Provention Bio stock in a transaction on Thursday, June 20th. The stock was acquired at an average price of $10.96 per share, with a total value of $109,600.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Ashleigh Palmer bought 4,000 shares of Provention Bio stock in a transaction on Tuesday, June 18th. The shares were purchased at an average cost of $10.83 per share, with a total value of $43,320.00. The disclosure for this purchase can be found here. Insiders have acquired 39,000 shares of company stock valued at $456,920 in the last three months. Insiders own 19.60% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Silverleafe Capital Partners LLC purchased a new stake in shares of Provention Bio in the first quarter valued at approximately $46,000. BlackRock Inc. grew its position in Provention Bio by 26.4% in the fourth quarter. BlackRock Inc. now owns 26,235 shares of the company’s stock worth $46,000 after acquiring an additional 5,472 shares during the period. Bailard Inc. purchased a new position in Provention Bio in the second quarter worth approximately $486,000. Finally, Sigma Planning Corp purchased a new position in Provention Bio in the second quarter worth approximately $701,000. Institutional investors and hedge funds own 1.88% of the company’s stock.
About Provention Bio
Provention Bio, Inc, a clinical stage biopharmaceutical company, focuses on the development and commercialization of novel therapeutics and cutting-edge solutions to intercept and prevent immune-mediated diseases. Its products candidates include PRV-031 teplizumab and monoclonal antibodies (mAb) that is in Phase III clinical trial for the interception of type one diabetes (T1D); PRV-6527, oral CSF-1R inhibitor, which is in Phase 2a clinical trial for the treatment of Crohn's disease; PRV-300, anti-TLR3 mAb, which is in Phase 1b clinical trial for the treatment of ulcerative colitis; PRV-3279 for the treatment of lupus; and PRV-101, a multivalent coxsackie virus vaccine for the prevention of acute Coxsackie Virus B Vaccine and the prevention of the onset of T1D.
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