Principia Biopharma (PRNB) PT Set at $42.00 by Leerink Swann

Leerink Swann set a $42.00 price objective on Principia Biopharma (NASDAQ:PRNB) in a research report report published on Thursday. The brokerage currently has a buy rating on the stock.

Separately, Zacks Investment Research upgraded Principia Biopharma from a hold rating to a buy rating and set a $42.00 price target for the company in a research note on Saturday. Five equities research analysts have rated the stock with a buy rating, The stock has an average rating of Buy and an average target price of $42.00.

Shares of PRNB stock traded down $3.36 during trading on Thursday, reaching $33.77. 50,703 shares of the company’s stock were exchanged, compared to its average volume of 164,075. The firm has a market capitalization of $886.12 million and a PE ratio of 59.25. Principia Biopharma has a twelve month low of $22.00 and a twelve month high of $38.34.

Principia Biopharma (NASDAQ:PRNB) last posted its earnings results on Tuesday, March 19th. The company reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.68. The business had revenue of $26.14 million for the quarter, compared to analyst estimates of $13.70 million. As a group, research analysts predict that Principia Biopharma will post -2.28 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Sofinnova Ventures Inc bought a new stake in Principia Biopharma in the 3rd quarter valued at $59,556,000. Baker BROS. Advisors LP bought a new stake in Principia Biopharma in the 3rd quarter valued at $52,240,000. FMR LLC boosted its stake in Principia Biopharma by 61.1% in the 4th quarter. FMR LLC now owns 1,142,071 shares of the company’s stock valued at $31,281,000 after purchasing an additional 433,194 shares during the period. BlackRock Inc. boosted its stake in Principia Biopharma by 196.1% in the 4th quarter. BlackRock Inc. now owns 442,666 shares of the company’s stock valued at $12,125,000 after purchasing an additional 293,166 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its stake in Principia Biopharma by 2.1% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 230,406 shares of the company’s stock valued at $6,311,000 after purchasing an additional 4,844 shares during the period. Institutional investors and hedge funds own 81.91% of the company’s stock.

About Principia Biopharma

Principia Biopharma Inc, a clinical-stage biopharmaceutical company, focuses on developing novel oral therapies for immunology and oncology in the United States. It is developing PRN1008, an inhibitor that is in Phase II clinical trial for the treatment of pemphigus, a chronic skin disease, as well as in Phase II clinical trial for the treatment of immune thrombocytopenic purpura; PRN2246, an inhibitor that is in Phase I clinical trial for the treatment of multiple sclerosis and other central nervous system diseases; PRN1371, a drug candidate, which is in Phase I clinical trial for the treatment of solid tumors; and oral small molecule inhibitors of the immunoproteasome.

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