Provention Bio Inc (NASDAQ:PRVB) Receives $24.50 Consensus Target Price from Analysts

Shares of Provention Bio Inc (NASDAQ:PRVB) have been assigned a consensus recommendation of “Buy” from the six brokerages that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $24.50.

PRVB has been the topic of several analyst reports. HC Wainwright reaffirmed a “buy” rating and issued a $20.00 target price on shares of Provention Bio in a report on Monday, December 30th. Zacks Investment Research lowered shares of Provention Bio from a “buy” rating to a “hold” rating in a report on Wednesday, January 8th. ValuEngine lowered shares of Provention Bio from a “hold” rating to a “sell” rating in a report on Wednesday, October 2nd. Chardan Capital reaffirmed a “buy” rating and issued a $18.50 target price on shares of Provention Bio in a report on Wednesday, October 23rd. Finally, Svb Leerink reaffirmed an “outperform” rating on shares of Provention Bio in a report on Thursday, January 2nd.

In other news, COO Eleanor Ramos bought 2,000 shares of the stock in a transaction dated Thursday, December 26th. The shares were acquired at an average price of $14.66 per share, with a total value of $29,320.00. In the last ninety days, insiders bought 6,075 shares of company stock worth $76,794. 19.60% of the stock is owned by insiders.

Institutional investors and hedge funds have recently bought and sold shares of the company. US Bancorp DE bought a new stake in shares of Provention Bio in the 2nd quarter worth about $36,000. Acadian Asset Management LLC bought a new stake in shares of Provention Bio in the 2nd quarter worth about $72,000. Morgan Stanley grew its holdings in shares of Provention Bio by 15,450.0% in the 2nd quarter. Morgan Stanley now owns 7,775 shares of the company’s stock worth $94,000 after purchasing an additional 7,725 shares during the last quarter. Squarepoint Ops LLC bought a new stake in Provention Bio during the 3rd quarter worth about $95,000. Finally, Alpine Global Management LLC bought a new stake in Provention Bio during the 4th quarter worth about $217,000. 12.94% of the stock is currently owned by institutional investors and hedge funds.

Shares of PRVB stock traded up $0.66 during mid-day trading on Friday, reaching $16.84. The company’s stock had a trading volume of 858,420 shares, compared to its average volume of 740,797. Provention Bio has a 1-year low of $2.04 and a 1-year high of $22.82. The company has a market cap of $770.79 million, a P/E ratio of -16.84 and a beta of 6.03. The firm’s 50-day moving average is $13.12 and its two-hundred day moving average is $10.10.

Provention Bio (NASDAQ:PRVB) last posted its earnings results on Tuesday, November 5th. The company reported ($0.24) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.30) by $0.06. On average, analysts forecast that Provention Bio will post -1.06 EPS for the current fiscal year.

Provention Bio Company Profile

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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