Provention Bio, Inc. (NASDAQ:PRVB) Receives $15.17 Consensus Price Target from Brokerages

Provention Bio, Inc. (NASDAQ:PRVB) has earned an average rating of “Buy” from the nine brokerages that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $15.33.

Several analysts have recently commented on PRVB shares. Sumitomo Mitsui Financial Group upgraded Provention Bio from a “neutral” rating to an “outperform” rating in a research note on Tuesday. SVB Leerink restated a “buy” rating and issued a $16.00 target price on shares of Provention Bio in a research note on Monday, September 20th. Zacks Investment Research upgraded Provention Bio from a “hold” rating to a “buy” rating and set a $8.00 target price for the company in a research note on Wednesday. HC Wainwright reiterated a “buy” rating and set a $25.00 price target on shares of Provention Bio in a research note on Tuesday, September 14th. Finally, Oppenheimer cut their price target on Provention Bio from $18.00 to $16.00 and set an “outperform” rating for the company in a research note on Friday, August 6th.

PRVB traded up $0.21 during midday trading on Friday, hitting $7.39. The company had a trading volume of 587,515 shares, compared to its average volume of 1,429,589. The stock’s 50 day moving average price is $6.45 and its 200 day moving average price is $6.87. Provention Bio has a 52 week low of $5.59 and a 52 week high of $20.05. The company has a market capitalization of $468.34 million, a price-to-earnings ratio of -3.71 and a beta of 2.84.

Provention Bio (NASDAQ:PRVB) last issued its earnings results on Thursday, November 4th. The company reported ($0.43) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.51) by $0.08. The firm had revenue of $0.68 million during the quarter, compared to analyst estimates of $3.75 million. During the same quarter in the prior year, the business earned ($0.56) earnings per share. Sell-side analysts forecast that Provention Bio will post -1.87 EPS for the current fiscal year.

Institutional investors have recently bought and sold shares of the business. Bank of New York Mellon Corp lifted its position in shares of Provention Bio by 9.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 197,799 shares of the company’s stock worth $1,667,000 after buying an additional 17,770 shares in the last quarter. Squarepoint Ops LLC bought a new stake in shares of Provention Bio in the 2nd quarter worth approximately $157,000. JPMorgan Chase & Co. raised its holdings in shares of Provention Bio by 21.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 25,386 shares of the company’s stock worth $213,000 after purchasing an additional 4,493 shares during the period. Newbridge Financial Services Group Inc. raised its holdings in shares of Provention Bio by 100.0% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 13,000 shares of the company’s stock worth $110,000 after purchasing an additional 6,500 shares during the period. Finally, Goldman Sachs Group Inc. raised its holdings in shares of Provention Bio by 366.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 340,506 shares of the company’s stock worth $3,573,000 after purchasing an additional 267,517 shares during the period. 42.86% of the stock is currently owned by hedge funds and other institutional investors.

About Provention Bio

Provention Bio, Inc is a clinical-stage biopharmaceutical company, which engages in the development and commercialization of novel therapeutics and solutions. Its products include PRV-031 for the interception of type 1 diabetes (T1D); PRV-015 for the treatment of gluten-free diet non-responding celiac disease; PRV-6527 for Crohn’s disease; PRV-3279 for the treatment of lupus; and PRV-101 for the prevention of acute coxsackie virus B (CVB), and the prevention of type 1 diabetes (T1D) onset.

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Analyst Recommendations for Provention Bio (NASDAQ:PRVB)

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