Brokerages Set PRA Health Sciences, Inc. (PRAH) Target Price at $85.44

PRA Health Sciences, Inc. (NASDAQ:PRAH) has been given an average rating of “Buy” by the thirteen brokerages that are covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating and twelve have issued a buy rating on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $85.44.

PRAH has been the topic of a number of research reports. Zacks Investment Research lowered shares of PRA Health Sciences from a “buy” rating to a “hold” rating in a research report on Tuesday, August 29th. Robert W. Baird reiterated a “buy” rating and issued a $88.00 price objective on shares of PRA Health Sciences in a research report on Monday, October 9th. Credit Suisse Group reiterated an “outperform” rating and issued a $90.00 price objective (up from $84.00) on shares of PRA Health Sciences in a research report on Monday, October 16th. Jefferies Group LLC reiterated a “buy” rating and issued a $92.00 price objective (up from $88.00) on shares of PRA Health Sciences in a research report on Thursday, August 10th. Finally, Citigroup Inc. reiterated a “buy” rating and issued a $93.00 price objective (up from $90.00) on shares of PRA Health Sciences in a research report on Thursday, August 10th.

COPYRIGHT VIOLATION WARNING: “Brokerages Set PRA Health Sciences, Inc. (PRAH) Target Price at $85.44” was published by Week Herald and is the sole property of of Week Herald. If you are viewing this story on another domain, it was copied illegally and republished in violation of United States and international copyright laws. The legal version of this story can be viewed at https://weekherald.com/2017/10/22/brokerages-set-pra-health-sciences-inc-prah-target-price-at-85-44.html.

PRA Health Sciences (PRAH) traded up 0.34% during trading on Thursday, hitting $82.88. 270,106 shares of the company traded hands. The company’s 50-day moving average is $77.99 and its 200 day moving average is $73.41. PRA Health Sciences has a 52-week low of $50.87 and a 52-week high of $83.73. The firm has a market cap of $5.19 billion, a price-to-earnings ratio of 53.51 and a beta of 0.42.

PRA Health Sciences (NASDAQ:PRAH) last announced its earnings results on Monday, August 7th. The medical research company reported $0.62 earnings per share (EPS) 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 analysts’ expectations of $447.79 million. PRA Health Sciences had a return on equity of 21.17% and a net margin of 5.15%. The business’s revenue was up .5% on a year-over-year basis. During the same quarter last year, the business posted $0.63 earnings per share. On average, equities analysts anticipate that PRA Health Sciences will post $3.20 earnings per share for the current year.

In other PRA Health Sciences news, major shareholder Pra Investors L.P. Kkr sold 9,500,000 shares of the business’s stock in a transaction on Monday, August 14th. The shares were sold at an average price of $74.85, for a total transaction of $711,075,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Linda Baddour sold 100,000 shares of the business’s stock in a transaction on Monday, August 14th. The stock was sold at an average price of $74.85, for a total transaction of $7,485,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 10,000,000 shares of company stock worth $748,500,000. 2.10% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of PRAH. Bank of New York Mellon Corp boosted its position in shares of PRA Health Sciences by 6.9% during the 1st quarter. Bank of New York Mellon Corp now owns 218,490 shares of the medical research company’s stock worth $14,253,000 after purchasing an additional 14,059 shares in the last quarter. UBS Asset Management Americas Inc. boosted its position in shares of PRA Health Sciences by 62.7% during the 1st quarter. UBS Asset Management Americas Inc. now owns 20,755 shares of the medical research company’s stock worth $1,354,000 after purchasing an additional 7,999 shares in the last quarter. Ameritas Investment Partners Inc. purchased a new stake in shares of PRA Health Sciences during the 1st quarter worth $136,000. Envestnet Asset Management Inc. boosted its position in shares of PRA Health Sciences by 232.3% during the 1st quarter. Envestnet Asset Management Inc. now owns 1,844 shares of the medical research company’s stock worth $121,000 after purchasing an additional 1,289 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of PRA Health Sciences by 5.9% during the 1st quarter. JPMorgan Chase & Co. now owns 105,147 shares of the medical research company’s stock worth $6,859,000 after purchasing an additional 5,880 shares in the last quarter. Institutional investors own 98.37% of the company’s stock.

PRA Health Sciences Company Profile

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.

Analyst Recommendations for PRA Health Sciences (NASDAQ:PRAH)

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

Leave a Reply