Credit Suisse Group Increases PRA Health Sciences, Inc. (PRAH) Price Target to $84.00
PRA Health Sciences, Inc. (NASDAQ:PRAH) had its target price lifted by Credit Suisse Group from $80.00 to $84.00 in a research note released on Tuesday. The brokerage currently has an outperform rating on the medical research company’s stock.
Several other research analysts also recently commented on the stock. Bank of America Corporation began coverage on shares of PRA Health Sciences in a report on Monday, June 26th. They issued a buy rating and a $89.00 target price on the stock. Jefferies Group LLC set a $73.00 target price on shares of PRA Health Sciences and gave the stock a buy rating in a report on Thursday, June 1st. BidaskClub downgraded shares of PRA Health Sciences from a strong-buy rating to a buy rating in a report on Monday, July 31st. Robert W. Baird lifted 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. Finally, Citigroup Inc. reiterated a buy rating and issued a $90.00 target price (up previously from $73.00) on shares of PRA Health Sciences in a report on Wednesday, June 28th. 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 stock. The stock has an average rating of Buy and an average price target of $78.00.
Shares of PRA Health Sciences (PRAH) traded up 0.53% during mid-day trading on Tuesday, reaching $74.20. 781,983 shares of the company were exchanged. PRA Health Sciences has a 12 month low of $48.42 and a 12 month high of $80.99. The firm’s 50-day moving average is $75.18 and its 200-day moving average is $67.24. The company has a market capitalization of $4.65 billion, a price-to-earnings ratio of 47.90 and a beta of 0.45.
PRA Health Sciences (NASDAQ:PRAH) last released its quarterly earnings results on Monday, August 7th. The medical research company reported $0.62 earnings per share for the quarter, missing analysts’ consensus estimates of $0.72 by $0.10. The business had revenue of $457.90 million for 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 21.17%. The firm’s revenue for the quarter was up .5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.63 EPS. On average, equities analysts forecast that PRA Health Sciences will post $3.18 earnings per share for the current fiscal year.
A number of hedge funds have recently bought and sold shares of the company. BlackRock Inc. raised its stake in PRA Health Sciences by 43,947.8% in the first quarter. BlackRock Inc. now owns 2,857,381 shares of the medical research company’s stock valued at $186,387,000 after buying an additional 2,850,894 shares in the last quarter. MARSHALL WACE ASIA Ltd bought a new stake in PRA Health Sciences during the first quarter valued at about $82,935,000. Marshall Wace North America L.P. bought a new stake in PRA Health Sciences during the first quarter valued at about $82,935,000. Harbour Capital Advisors LLC bought a new stake in PRA Health Sciences during the second quarter valued at about $6,400,000. Finally, Wells Fargo & Company MN raised its stake in PRA Health Sciences by 321.6% in the first quarter. Wells Fargo & Company MN now owns 609,515 shares of the medical research company’s stock valued at $39,760,000 after buying an additional 464,931 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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