PRA Health Sciences, Inc. (PRAH) Lowered to “Sell” at Zacks Investment Research

PRA Health Sciences, Inc. (NASDAQ:PRAH) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Friday.

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 analysts also recently weighed in on PRAH. SunTrust Banks, Inc. restated a “buy” rating on shares of PRA Health Sciences in a report on Wednesday. Jefferies Group LLC restated a “buy” rating and issued a $92.00 target price (up from $88.00) on shares of PRA Health Sciences in a report on Thursday. Citigroup Inc. restated a “buy” rating and issued a $93.00 target price (up from $90.00) on shares of PRA Health Sciences in a report on Thursday. Credit Suisse Group boosted their target price on shares of PRA Health Sciences from $80.00 to $84.00 and gave the stock an “outperform” rating in a report on Tuesday. Finally, Robert W. Baird boosted their target price on shares of PRA Health Sciences from $82.00 to $83.00 and gave the stock an “outperform” rating in a report on Tuesday. One research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have assigned a buy rating to the company’s stock. PRA Health Sciences has a consensus rating of “Buy” and an average price target of $78.00.

PRA Health Sciences (NASDAQ:PRAH) opened at 73.81 on Friday. PRA Health Sciences has a 12 month low of $48.42 and a 12 month high of $80.99. The stock has a market capitalization of $4.62 billion, a price-to-earnings ratio of 47.65 and a beta of 0.45. The company has a 50-day moving average of $75.21 and a 200 day moving average of $67.10.

PRA Health Sciences (NASDAQ:PRAH) last announced its quarterly earnings results on Monday, August 7th. The medical research company reported $0.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.72 by $0.10. The company had revenue of $457.90 million during the quarter, compared to the consensus estimate of $447.79 million. PRA Health Sciences had a net margin of 5.15% and a return on equity of 21.88%. The business’s revenue was up .5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.63 earnings per share. On average, equities research analysts anticipate that PRA Health Sciences will post $3.18 earnings per share for the current fiscal year.

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Several institutional investors have recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in PRA Health Sciences by 12.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,488 shares of the medical research company’s stock worth $112,000 after buying an additional 160 shares in the last quarter. Meeder Asset Management Inc. boosted its position in PRA Health Sciences by 144.0% in the second quarter. Meeder Asset Management Inc. now owns 1,535 shares of the medical research company’s stock worth $115,000 after buying an additional 906 shares in the last quarter. Envestnet Asset Management Inc. boosted its position in PRA Health Sciences by 232.3% in the first quarter. Envestnet Asset Management Inc. now owns 1,844 shares of the medical research company’s stock worth $121,000 after buying an additional 1,289 shares in the last quarter. Ameritas Investment Partners Inc. purchased a new position in PRA Health Sciences during the first quarter worth approximately $136,000. Finally, First Bank & Trust boosted its position in PRA Health Sciences by 1.7% in the first quarter. First Bank & Trust now owns 3,159 shares of the medical research company’s stock worth $206,000 after buying an additional 54 shares in the last quarter.

About PRA Health Sciences

PRA Health Sciences, Inc is a contract research organization. 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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