Provention Bio Inc (NASDAQ:PRVB) has earned an average rating of “Buy” from the six research firms that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $24.50.

Several analysts have recently weighed in on the stock. Zacks Investment Research cut shares of Provention Bio from a “buy” rating to a “hold” rating in a research note on Wednesday, January 8th. Chardan Capital reissued a “buy” rating and issued a $18.50 price target on shares of Provention Bio in a research note on Wednesday, October 23rd. Svb Leerink reissued an “outperform” rating on shares of Provention Bio in a research note on Thursday, January 2nd. HC Wainwright reissued a “buy” rating and issued a $20.00 price target on shares of Provention Bio in a research note on Monday, December 30th. Finally, ValuEngine lowered shares of Provention Bio from a “hold” rating to a “sell” rating in a report on Wednesday, October 2nd.

Shares of Provention Bio stock traded up $0.35 during mid-day trading on Friday, hitting $16.15. The stock had a trading volume of 8,261 shares, compared to its average volume of 752,186. The firm has a 50-day moving average of $12.65 and a two-hundred day moving average of $10.01. Provention Bio has a 12-month low of $1.86 and a 12-month high of $22.82. The firm has a market cap of $752.71 million, a P/E ratio of -13.45 and a beta of 6.03.

Provention Bio (NASDAQ:PRVB) last posted its quarterly earnings results on Tuesday, November 5th. The company reported ($0.24) earnings per share for the quarter, beating the consensus estimate of ($0.30) by $0.06. On average, equities research analysts anticipate that Provention Bio will post -1.06 earnings per share for the current year.

In related news, COO Eleanor Ramos acquired 2,000 shares of the firm’s stock in a transaction dated Thursday, December 26th. The shares were purchased at an average cost of $14.66 per share, for a total transaction of $29,320.00. Over the last 90 days, insiders bought 6,075 shares of company stock worth $76,794. Company insiders own 19.60% of the company’s stock.

Hedge funds have recently modified their holdings of the company. US Bancorp DE acquired a new position in shares of Provention Bio in the 2nd quarter worth approximately $36,000. Acadian Asset Management LLC acquired a new position in shares of Provention Bio in the 2nd quarter worth approximately $72,000. Morgan Stanley lifted its holdings in shares of Provention Bio by 15,450.0% in the 2nd quarter. Morgan Stanley now owns 7,775 shares of the company’s stock worth $94,000 after acquiring an additional 7,725 shares during the last quarter. Squarepoint Ops LLC acquired a new position in shares of Provention Bio in the 3rd quarter worth approximately $95,000. Finally, Clear Harbor Asset Management LLC acquired a new stake in Provention Bio during the 3rd quarter worth approximately $106,000. Hedge funds and other institutional investors own 12.94% of the company’s stock.

Provention Bio Company Profile

Provention Bio, Inc, a clinical stage biopharmaceutical company, focuses on the development and commercialization of novel therapeutics and cutting-edge solutions to intercept and prevent immune-mediated diseases. Its products candidates include PRV-031 teplizumab and monoclonal antibodies (mAb) that is in Phase III clinical trial for the interception of type one diabetes (T1D); PRV-6527, oral CSF-1R inhibitor, which is in Phase 2a clinical trial for the treatment of Crohn's disease; PRV-300, anti-TLR3 mAb, which is in Phase 1b clinical trial for the treatment of ulcerative colitis; PRV-3279 for the treatment of lupus; and PRV-101, a multivalent coxsackie virus vaccine for the prevention of acute Coxsackie Virus B Vaccine and the prevention of the onset of T1D.

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