PRA Health Sciences Inc. (NASDAQ:PRAH) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Wednesday. The brokerage presently has a $65.00 price target on the stock. Zacks Investment Research’s price target suggests a potential upside of 16.09% from the stock’s current price.
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 research analysts also recently issued reports on PRAH. Jefferies Group reiterated a “buy” rating on shares of PRA Health Sciences in a research note on Tuesday, September 13th. First Analysis began coverage on shares of PRA Health Sciences in a research note on Monday, June 20th. They set an “equal weight” rating and a $47.00 price objective on the stock. Credit Suisse Group AG began coverage on shares of PRA Health Sciences in a research note on Monday, June 20th. They set a “neutral” rating and a $43.00 price objective on the stock. KeyCorp upgraded shares of PRA Health Sciences from a “sector weight” rating to an “overweight” rating and set a $55.00 price objective on the stock in a research note on Monday, June 13th. Finally, Citigroup Inc. increased their price objective 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 investment analyst has rated the stock with a sell rating, two have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $51.61.
PRA Health Sciences (NASDAQ:PRAH) opened at 55.99 on Wednesday. PRA Health Sciences has a one year low of $33.00 and a one year high of $57.24. The company has a 50 day moving average of $53.08 and a 200-day moving average of $47.48. The stock has a market capitalization of $3.41 billion, a P/E ratio of 48.02 and a beta of 0.53.
PRA Health Sciences (NASDAQ:PRAH) last released its quarterly earnings results on Thursday, July 28th. The company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.04. PRA Health Sciences had a net margin of 4.53% and a return on equity of 20.47%. The business had revenue of $394.20 million for the quarter, compared to analyst estimates of $381.25 million. During the same period last year, the firm earned $0.47 earnings per share. PRA Health Sciences’s revenue for the quarter was up 16.0% compared to the same quarter last year. Equities research analysts predict that PRA Health Sciences will post $2.47 earnings per share for the current fiscal year.
In related news, CEO Colin Shannon sold 113,133 shares of PRA Health Sciences 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 sale, the chief executive officer now directly owns 120,000 shares in the company, valued at approximately $6,188,400. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP David W. Dockhorn sold 107,257 shares of PRA Health Sciences stock in a transaction that occurred on Friday, August 12th. The stock was sold at an average price of $49.00, for a total transaction of $5,255,593.00. The disclosure for this sale can be found here. Corporate insiders own 2.50% of the company’s stock.
A number of large investors have recently bought and sold shares of PRAH. Vanguard Group Inc. increased its stake in PRA Health Sciences by 33.6% in the second quarter. Vanguard Group Inc. now owns 3,390,193 shares of the company’s stock valued at $141,575,000 after buying an additional 852,713 shares in the last quarter. Acadian Asset Management LLC increased its stake in PRA Health Sciences by 93.3% in the second quarter. Acadian Asset Management LLC now owns 2,330,543 shares of the company’s stock valued at $97,324,000 after buying an additional 1,125,077 shares in the last quarter. TimesSquare Capital Management LLC increased its stake in PRA Health Sciences by 22.7% in the first quarter. TimesSquare Capital Management LLC now owns 1,454,855 shares of the company’s stock valued at $62,210,000 after buying an additional 269,605 shares in the last quarter. BlackRock Fund Advisors increased its stake in PRA Health Sciences by 7.6% in the second quarter. BlackRock Fund Advisors now owns 1,361,065 shares of the company’s stock valued at $56,838,000 after buying an additional 96,272 shares in the last quarter. Finally, Columbia Wanger Asset Management LLC acquired a new stake in PRA Health Sciences during the second quarter valued at approximately $46,366,000.
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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