Principia Biopharma (NASDAQ:PRNB) Downgraded to Sell at Zacks Investment Research

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Zacks Investment Research downgraded shares of Principia Biopharma (NASDAQ:PRNB) from a hold rating to a sell rating in a report published on Thursday, 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. “

PRNB has been the subject of several other research reports. BidaskClub upgraded shares of Principia Biopharma from a buy rating to a strong-buy rating in a report on Thursday, February 6th. HC Wainwright increased their price objective on shares of Principia Biopharma from to and gave the stock a buy rating in a research report on Thursday, February 6th. Stifel Nicolaus reissued a buy rating on shares of Principia Biopharma in a research note on Tuesday, December 31st. ValuEngine downgraded shares of Principia Biopharma from a hold rating to a sell rating in a research note on Tuesday, December 10th. Finally, Wells Fargo & Co restated a buy rating and set a $82.00 target price (up previously from $63.00) on shares of Principia Biopharma in a research report on Friday, February 7th. Two equities research analysts have rated the stock with a sell rating, four have given a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of Buy and a consensus target price of $64.40.

NASDAQ PRNB traded down $3.06 on Thursday, hitting $62.64. 766 shares of the stock were exchanged, compared to its average volume of 307,666. Principia Biopharma has a 52-week low of $25.35 and a 52-week high of $75.65. The firm has a market capitalization of $2.15 billion, a P/E ratio of -72.82 and a beta of 1.39. The stock has a fifty day moving average price of $59.88 and a two-hundred day moving average price of $42.90.

In related news, insider Stefani Wolff sold 5,505 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $49.43, for a total value of $272,112.15. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Roy C. Hardiman sold 5,000 shares of the firm’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $49.41, for a total value of $247,050.00. The disclosure for this sale can be found here. Insiders have sold 42,000 shares of company stock valued at $2,298,262 over the last three months. Insiders own 28.98% of the company’s stock.

Hedge funds have recently modified their holdings of the business. Virtus ETF Advisers LLC increased its stake in shares of Principia Biopharma by 13.5% during the fourth quarter. Virtus ETF Advisers LLC now owns 8,277 shares of the company’s stock valued at $453,000 after buying an additional 983 shares during the period. Victory Capital Management Inc. lifted its stake in Principia Biopharma by 3.8% in the fourth quarter. Victory Capital Management Inc. now owns 29,104 shares of the company’s stock worth $1,532,000 after acquiring an additional 1,069 shares during the period. Bank of Montreal Can lifted its stake in Principia Biopharma by 88.6% in the fourth quarter. Bank of Montreal Can now owns 2,320 shares of the company’s stock worth $127,000 after acquiring an additional 1,090 shares during the period. Great West Life Assurance Co. Can bought a new position in Principia Biopharma during the 4th quarter worth about $83,000. Finally, UBS Group AG grew its holdings in Principia Biopharma by 20.7% during the 4th quarter. UBS Group AG now owns 13,799 shares of the company’s stock worth $756,000 after acquiring an additional 2,369 shares in the last quarter. Institutional investors and hedge funds own 90.50% of the company’s stock.

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.

See Also: Debt-To-Equity Ratio

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