Principia Biopharma Inc (NASDAQ:PRNB) shares were up 7% during mid-day trading on Wednesday . The stock traded as high as $56.50 and last traded at $55.23, approximately 278,108 shares were traded during trading. An increase of 0% from the average daily volume of 277,001 shares. The stock had previously closed at $51.60.

A number of equities analysts have recently commented on PRNB shares. Zacks Investment Research downgraded shares of Principia Biopharma from a “buy” rating to a “hold” rating in a research note on Saturday, January 11th. HC Wainwright restated a “buy” rating and set a target price on shares of Principia Biopharma in a report on Tuesday, January 7th. ValuEngine cut shares of Principia Biopharma from a “hold” rating to a “sell” rating in a research report on Tuesday, December 10th. Finally, Stifel Nicolaus reiterated a “buy” rating on shares of Principia Biopharma in a report on Tuesday, December 31st. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $58.25.

The firm has a market cap of $1.97 billion, a price-to-earnings ratio of 110.75 and a beta of 1.37. The business has a 50 day moving average price of $51.10 and a 200-day moving average price of $38.70.

Principia Biopharma (NASDAQ:PRNB) last announced its earnings results on Tuesday, November 5th. The company reported ($0.93) EPS for the quarter, missing the consensus estimate of ($0.85) by ($0.08). Principia Biopharma had a net margin of 11.88% and a negative return on equity of 11.95%. Sell-side analysts forecast that Principia Biopharma Inc will post -2.01 EPS for the current year.

In other news, Director Daniel J. Becker acquired 77,600 shares of the business’s stock in a transaction on Tuesday, October 29th. The shares were purchased at an average price of $35.50 per share, for a total transaction of $2,754,800.00. Also, insider Dolca Thomas sold 495 shares of the company’s stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $60.00, for a total transaction of $29,700.00. The disclosure for this sale can be found here. Insiders sold 46,000 shares of company stock valued at $2,188,962 in the last ninety days. 28.98% of the stock is owned by corporate insiders.

Several institutional investors have recently made changes to their positions in the company. Redmile Group LLC grew its holdings in shares of Principia Biopharma by 223.6% in the third quarter. Redmile Group LLC now owns 790,006 shares of the company’s stock valued at $22,310,000 after acquiring an additional 545,906 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of Principia Biopharma by 119.9% in the second quarter. BlackRock Inc. now owns 982,215 shares of the company’s stock valued at $32,600,000 after buying an additional 535,495 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Principia Biopharma by 98.2% in the second quarter. Vanguard Group Inc. now owns 574,862 shares of the company’s stock valued at $19,079,000 after buying an additional 284,762 shares during the period. Pictet Asset Management Ltd. bought a new position in Principia Biopharma during the third quarter valued at about $7,898,000. Finally, Point72 Asset Management L.P. bought a new position in Principia Biopharma during the second quarter valued at about $3,634,000. Institutional investors own 61.55% of the company’s stock.

About Principia Biopharma (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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