Principia Biopharma Inc (NASDAQ:PRNB)’s share price gapped down before the market opened on Wednesday . The stock had previously closed at $30.68, but opened at $29.91. Principia Biopharma shares last traded at $29.51, with a volume of 2,180,000 shares.

A number of research firms have commented on PRNB. HC Wainwright restated a “buy” rating and set a $55.00 price objective on shares of Principia Biopharma in a research note on Tuesday, July 30th. Zacks Investment Research lowered Principia Biopharma from a “hold” rating to a “sell” rating in a research note on Wednesday, July 10th. ValuEngine lowered Principia Biopharma from a “hold” rating to a “sell” rating in a research note on Friday, October 11th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $51.00 price target (up previously from $45.00) on shares of Principia Biopharma in a research note on Thursday, October 10th. Two investment analysts have rated the stock with a sell rating and three have assigned a buy rating to the stock. Principia Biopharma currently has a consensus rating of “Hold” and a consensus target price of $47.50.

The company has a 50 day moving average price of $32.92 and a 200-day moving average price of $33.55. The company has a market cap of $706.50 million and a P/E ratio of 51.77.

Principia Biopharma (NASDAQ:PRNB) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.28 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.65) by $0.93. Principia Biopharma had a return on equity of 5.76% and a net margin of 11.88%. The company had revenue of $30.00 million for the quarter, compared to analyst estimates of $6.16 million. As a group, analysts forecast that Principia Biopharma Inc will post -2.03 earnings per share for the current year.

In other news, major shareholder Leaf Ventures Ii L.P. New sold 300,000 shares of Principia Biopharma stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $35.00, for a total value of $10,500,000.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 28.98% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PRNB. Bank of Montreal Can acquired a new stake in shares of Principia Biopharma during the 2nd quarter valued at $37,000. Public Employees Retirement System of Ohio acquired a new stake in shares of Principia Biopharma during the 2nd quarter valued at $59,000. Tower Research Capital LLC TRC boosted its holdings in shares of Principia Biopharma by 1,786.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,132 shares of the company’s stock valued at $71,000 after acquiring an additional 2,019 shares in the last quarter. Meeder Asset Management Inc. acquired a new stake in shares of Principia Biopharma during the 2nd quarter valued at $121,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Principia Biopharma during the 2nd quarter valued at $211,000. 83.70% of the stock is currently owned by institutional investors.

Principia Biopharma Company Profile (NASDAQ:PRNB)

Principia Biopharma Inc, a late-stage biopharmaceutical company, focuses on developing novel therapies for immunology and oncology. The company is developing PRN1008, an inhibitor that is in Phase III clinical trial for the treatment of pemphigus, a chronic skin disease, as well as in Phase II clinical trial to treat immune thrombocytopenic purpura.

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