Zacks Investment Research upgraded shares of PRA Health Sciences Inc. (NASDAQ:PRAH) from a hold rating to a strong-buy rating in a report released on Wednesday morning. Zacks Investment Research currently has $65.00 target price on the stock.
According to Zacks, “PRA Health Sciences, Inc. operates as a global contract research organizations providing outsourced clinical development services to the biotechnology and pharmaceutical industries. It offers therapeutic services in the areas of cardio-metabolic, biosimilars, infectious diseases, immunology, neurology and psychiatry, oncology and hematology, rare diseases, and respiratory needs. The Company engages in bioanalytical laboratory, clinical pharmacology, clinical development, strategic solutions, post marketing research, clinical informatics, clinical diagnostics, and safety and risk management activities. PRA Health Sciences, Inc. is based in Raleigh, North Carolina. “
A number of other equities analysts have also commented on PRAH. Jefferies Group restated a buy rating on shares of PRA Health Sciences in a research report on Tuesday, September 13th. First Analysis initiated coverage on shares of PRA Health Sciences in a research note on Monday, June 20th. They issued an equal weight rating and a $47.00 target price for the company. Credit Suisse Group AG initiated coverage on shares of PRA Health Sciences in a research note on Monday, June 20th. They issued a neutral rating and a $43.00 target price for the company. KeyCorp raised shares of PRA Health Sciences from a sector weight rating to an overweight rating and set a $55.00 target price for the company in a research note on Monday, June 13th. Finally, Citigroup Inc. boosted their target price on shares of PRA Health Sciences from $55.00 to $66.00 and gave the stock a buy rating in a research note on Thursday, September 22nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of Buy and an average price target of $51.61.
PRA Health Sciences (NASDAQ:PRAH) traded down 0.49% during trading on Wednesday, reaching $56.43. 130,129 shares of the company were exchanged. PRA Health Sciences has a 52-week low of $33.00 and a 52-week high of $57.24. The firm has a market cap of $3.44 billion, a price-to-earnings ratio of 48.40 and a beta of 0.53. The firm has a 50-day moving average of $52.95 and a 200-day moving average of $47.42.
PRA Health Sciences (NASDAQ:PRAH) last released its quarterly earnings results on Thursday, July 28th. The company reported $0.63 EPS for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.04. The firm had revenue of $394.20 million for the quarter, compared to analyst estimates of $381.25 million. PRA Health Sciences had a net margin of 4.53% and a return on equity of 20.47%. The company’s revenue for the quarter was up 16.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.47 earnings per share. On average, equities analysts forecast that PRA Health Sciences will post $2.47 EPS for the current year.
In related news, CEO Colin Shannon sold 113,133 shares of the business’s stock in a transaction that occurred on Monday, August 22nd. The shares were sold at an average price of $51.57, for a total transaction of $5,834,268.81. Following the completion of the transaction, the chief executive officer now owns 120,000 shares in the company, valued at $6,188,400. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Linda Baddour sold 69,380 shares of the business’s stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $52.00, for a total transaction of $3,607,760.00. Following the transaction, the vice president now owns 69,380 shares of the company’s stock, valued at approximately $3,607,760. The disclosure for this sale can be found here. Corporate insiders own 2.50% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Fund Advisors boosted its position in shares of PRA Health Sciences by 6.1% in the first quarter. BlackRock Fund Advisors now owns 1,264,793 shares of the company’s stock worth $54,083,000 after buying an additional 72,562 shares in the last quarter. UBS Group AG boosted its position in shares of PRA Health Sciences by 7.7% in the first quarter. UBS Group AG now owns 50,636 shares of the company’s stock worth $2,165,000 after buying an additional 3,621 shares in the last quarter. Emerald Acquisition Ltd. purchased a new position in shares of PRA Health Sciences during the second quarter worth about $23,257,000. HBK Investments L P purchased a new position in shares of PRA Health Sciences during the first quarter worth about $295,000. Finally, TIAA CREF Investment Management LLC boosted its position in shares of PRA Health Sciences by 9.9% in the first quarter. TIAA CREF Investment Management LLC now owns 94,310 shares of the company’s stock worth $4,033,000 after buying an additional 8,487 shares in the last quarter.
About PRA Health Sciences
PRA Health Sciences, Inc is a contract research organization (CRO). The Company provides outsourced clinical development services to the biotechnology and pharmaceutical industries. The Company offers therapeutic services in areas of pharmaceutical development, including oncology, central nervous system, inflammation and infectious diseases.
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