Principia Biopharma (NASDAQ:PRNB) Trading Up 5.5%

Principia Biopharma Inc (NASDAQ:PRNB)’s share price was up 5.5% on Monday . The stock traded as high as $39.72 and last traded at $39.25, approximately 199,253 shares were traded during mid-day trading. An increase of 80% from the average daily volume of 110,454 shares. The stock had previously closed at $37.21.

A number of research analysts recently commented on PRNB shares. Stifel Nicolaus reissued a “buy” rating and issued a $45.00 target price on shares of Principia Biopharma in a research note on Sunday, August 11th. HC Wainwright reissued a “buy” rating and issued a $55.00 target price on shares of Principia Biopharma in a research note on Tuesday, July 30th. Finally, Zacks Investment Research cut Principia Biopharma from a “hold” rating to a “sell” rating in a research note on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating and six have issued a buy rating to the company’s stock. Principia Biopharma presently has a consensus rating of “Buy” and a consensus target price of $46.00.

The firm has a market cap of $868.46 million and a P/E ratio of 68.86. The stock has a 50 day moving average of $37.94 and a 200 day moving average of $33.27.

Principia Biopharma (NASDAQ:PRNB) last released its earnings results on Thursday, August 8th. The company reported $0.28 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.65) by $0.93. The business had revenue of $30.00 million for the quarter, compared to analysts’ expectations of $6.16 million. Principia Biopharma had a return on equity of 5.76% and a net margin of 11.88%. On average, analysts predict that Principia Biopharma Inc will post -2.03 EPS for the current fiscal year.

In other news, major shareholder Leaf Ventures Ii L.P. New sold 300,000 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $35.00, for a total transaction of $10,500,000.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Orbimed Advisors Llc sold 1,000,000 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $30.25, for a total value of $30,250,000.00. The disclosure for this sale can be found here. 28.98% of the stock is owned by corporate insiders.

Large investors have recently made changes to their positions in the company. Susquehanna International Group LLP purchased a new position in shares of Principia Biopharma during the 2nd quarter worth $567,000. Nuveen Asset Management LLC purchased a new position in shares of Principia Biopharma during the 2nd quarter worth $1,885,000. Price T Rowe Associates Inc. MD boosted its stake in shares of Principia Biopharma by 1.0% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 922,952 shares of the company’s stock worth $30,633,000 after acquiring an additional 8,970 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new position in shares of Principia Biopharma during the 2nd quarter worth $249,000. Finally, Point72 Asset Management L.P. purchased a new position in shares of Principia Biopharma during the 2nd quarter worth $3,634,000. 84.99% of the stock is currently owned by hedge funds and other institutional investors.

About Principia Biopharma (NASDAQ:PRNB)

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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