Principia Biopharma (NASDAQ:PRNB) was downgraded by Zacks Investment Research from a “buy” rating to a “sell” rating in a research note issued to investors on Wednesday.

According to Zacks, “Principia Biopharma Inc. is a clinical stage biopharmaceutical company. It offers reversible covalent small molecule drugs for the treatment of cancers. The company’s product pipeline consists of PRN1008, PRN1371 and PRN2246 which are in clinical stage. Principia Biopharma Inc. is based in San Francisco, United States. “

Several other equities research analysts also recently weighed in on the company. Robert W. Baird started coverage on Principia Biopharma in a report on Tuesday, October 9th. They issued an “outperform” rating for the company. Bank of America started coverage on Principia Biopharma in a report on Tuesday, October 9th. They issued a “buy” rating for the company. Wells Fargo & Co started coverage on Principia Biopharma in a report on Tuesday, October 9th. They issued an “outperform” rating for the company. Finally, Leerink Swann started coverage on Principia Biopharma in a report on Tuesday, October 9th. They issued an “outperform” rating and a $34.00 price target for the company. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. Principia Biopharma presently has an average rating of “Buy” and an average target price of $32.50.

Shares of NASDAQ PRNB opened at $30.85 on Wednesday. Principia Biopharma has a fifty-two week low of $22.00 and a fifty-two week high of $36.00.

Several institutional investors have recently added to or reduced their stakes in PRNB. Citadel Advisors LLC acquired a new stake in shares of Principia Biopharma during the third quarter worth about $211,000. Victory Capital Management Inc. acquired a new stake in shares of Principia Biopharma during the third quarter worth about $234,000. Point72 Asset Management L.P. acquired a new stake in shares of Principia Biopharma during the third quarter worth about $292,000. Marshall Wace North America L.P. acquired a new stake in shares of Principia Biopharma during the third quarter worth about $403,000. Finally, JPMorgan Chase & Co. acquired a new stake in shares of Principia Biopharma during the third quarter worth about $442,000. 66.33% of the stock is owned by hedge funds and other institutional investors.

Principia Biopharma Company Profile

Principia Biopharma Inc, a clinical-stage biopharmaceutical company, focuses on developing novel oral therapies for immunology and oncology in the United States. It is developing PRN1008, an inhibitor that is in Phase II clinical trial for the treatment of pemphigus, a chronic skin disease, as well as in Phase II clinical trial for the treatment of immune thrombocytopenic purpura; PRN2246, an inhibitor that is in Phase I clinical trial for the treatment of multiple sclerosis and other central nervous system diseases; PRN1371, a drug candidate, which is in Phase I clinical trial for the treatment of solid tumors; and oral small molecule inhibitors of the immunoproteasome.

Featured Article: How to Calculate Compound Annual Growth Rate (CAGR)

Get a free copy of the Zacks research report on Principia Biopharma (PRNB)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Principia Biopharma Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Principia Biopharma and related companies with MarketBeat.com's FREE daily email newsletter.