Zacks Investment Research upgraded shares of PRA Health Sciences, Inc. (NASDAQ:PRAH) from a hold rating to a buy rating in a report published on Wednesday morning. They currently have $85.00 price target on the medical research company’s 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. “

Several other equities analysts also recently commented on PRAH. Jefferies Group LLC set a $73.00 price objective on PRA Health Sciences and gave the company a buy rating in a research note on Thursday, June 1st. Credit Suisse Group reiterated an outperform rating and issued a $76.00 price objective (up previously from $69.00) on shares of PRA Health Sciences in a research note on Tuesday, June 6th. Bank of America Corporation started coverage on PRA Health Sciences in a research note on Monday, June 26th. They issued a buy rating and a $89.00 price objective on the stock. Citigroup Inc. reiterated a buy rating and issued a $90.00 price objective (up previously from $73.00) on shares of PRA Health Sciences in a research note on Wednesday, June 28th. Finally, BidaskClub downgraded PRA Health Sciences from a strong-buy rating to a buy rating in a research note on Monday, July 31st. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. PRA Health Sciences currently has an average rating of Buy and an average target price of $81.44.

PRA Health Sciences (PRAH) opened at 76.98 on Wednesday. The firm has a 50-day moving average price of $75.42 and a 200 day moving average price of $68.56. PRA Health Sciences has a 12 month low of $48.42 and a 12 month high of $80.99. The company has a market capitalization of $4.82 billion, a P/E ratio of 49.70 and a beta of 0.45.

PRA Health Sciences (NASDAQ:PRAH) last posted its quarterly earnings data on Monday, August 7th. The medical research company reported $0.62 EPS for the quarter, missing the consensus estimate of $0.72 by $0.10. PRA Health Sciences had a net margin of 5.15% and a return on equity of 21.17%. The firm had revenue of $457.90 million during the quarter, compared to analysts’ expectations of $447.79 million. During the same quarter in the previous year, the company posted $0.63 EPS. PRA Health Sciences’s revenue for the quarter was up .5% on a year-over-year basis. Analysts expect that PRA Health Sciences will post $3.19 EPS for the current year.

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In other news, major shareholder Pra Investors L.P. Kkr sold 9,500,000 shares of the company’s stock in a transaction on Monday, August 14th. The shares were sold at an average price of $74.85, for a total value of $711,075,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Linda Baddour sold 100,000 shares of the company’s stock in a transaction on Monday, August 14th. The stock was sold at an average price of $74.85, for a total transaction of $7,485,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 10,000,000 shares of company stock worth $748,500,000 in the last three months. Insiders own 2.10% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PRAH. 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 valued at $112,000 after buying an additional 160 shares during 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 valued at $115,000 after buying an additional 906 shares during 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 valued at $121,000 after buying an additional 1,289 shares during the last quarter. Ameritas Investment Partners Inc. purchased a new position in PRA Health Sciences during the first quarter valued at $136,000. Finally, Teacher Retirement System of Texas purchased a new position in PRA Health Sciences during the first quarter valued at $208,000. 98.38% of the stock is currently owned by hedge funds and other institutional investors.

PRA Health Sciences Company Profile

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.

Analyst Recommendations for PRA Health Sciences (NASDAQ:PRAH)

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