Citigroup Inc. Raises PRA Health Sciences Inc. (PRAH) Price Target to $66.00
PRA Health Sciences Inc. (NASDAQ:PRAH) had its price objective increased by research analysts at Citigroup Inc. from $55.00 to $66.00 in a research report issued to clients and investors on Thursday. The brokerage currently has a “buy” rating on the stock. Citigroup Inc.’s price objective points to a potential upside of 18.96% from the company’s current price.
A number of other brokerages have also issued reports on PRAH. Jefferies Group reiterated a “buy” rating on shares of PRA Health Sciences in a research note on Tuesday, September 13th. Zacks Investment Research lowered shares of PRA Health Sciences from a “buy” rating to a “hold” rating in a research note on Thursday, August 11th. KeyCorp upgraded shares of PRA Health Sciences from a “sector weight” rating to an “overweight” rating and set a $55.00 price target on the stock in a research note on Monday, June 13th. First Analysis began coverage on shares of PRA Health Sciences in a research note on Monday, June 20th. They set an “equal weight” rating and a $47.00 price target on the stock. Finally, Credit Suisse Group AG began coverage on shares of PRA Health Sciences in a research note on Monday, June 20th. They set a “neutral” rating and a $43.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $50.39.
PRA Health Sciences (NASDAQ:PRAH) traded up 1.21% during mid-day trading on Thursday, reaching $56.15. 94,093 shares of the company were exchanged. The firm has a market capitalization of $3.42 billion, a P/E ratio of 48.16 and a beta of 0.54. PRA Health Sciences has a 1-year low of $33.00 and a 1-year high of $56.38. The stock has a 50-day moving average of $51.04 and a 200 day moving average of $46.37.
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PRA Health Sciences (NASDAQ:PRAH) last issued its quarterly earnings results on Thursday, July 28th. The company reported $0.63 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.59 by $0.04. The company had revenue of $394.20 million for the quarter, compared to analyst estimates of $381.25 million. PRA Health Sciences had a net margin of 4.53% and a return on equity of 20.47%. The business’s revenue for the quarter was up 16.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.47 earnings per share. Equities research analysts forecast that PRA Health Sciences will post $2.47 earnings per share for the current year.
In related news, VP David W. Dockhorn sold 107,257 shares of the company’s stock in a transaction that occurred on Friday, August 12th. The shares were sold at an average price of $49.00, for a total transaction of $5,255,593.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Colin Shannon sold 113,133 shares of the company’s stock in a transaction that occurred on Monday, August 22nd. The stock was sold at an average price of $51.57, for a total transaction of $5,834,268.81. Following the sale, the chief executive officer now owns 120,000 shares in the company, valued at $6,188,400. The disclosure for this sale can be found here. Corporate insiders own 2.50% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the company. Fisher Asset Management LLC raised its stake in PRA Health Sciences by 2.5% in the second quarter. Fisher Asset Management LLC now owns 5,244 shares of the company’s stock worth $225,000 after buying an additional 127 shares during the last quarter. Acrospire Investment Management LLC raised its stake in PRA Health Sciences by 8.7% in the second quarter. Acrospire Investment Management LLC now owns 2,500 shares of the company’s stock worth $104,000 after buying an additional 200 shares during the last quarter. Royal Bank of Canada raised its stake in PRA Health Sciences by 6.2% in the first quarter. Royal Bank of Canada now owns 5,074 shares of the company’s stock worth $217,000 after buying an additional 297 shares during the last quarter. FDx Advisors Inc. raised its stake in PRA Health Sciences by 6.3% in the second quarter. FDx Advisors Inc. now owns 5,154 shares of the company’s stock worth $215,000 after buying an additional 305 shares during the last quarter. Finally, BlackRock Inc. raised its stake in PRA Health Sciences by 26.0% in the second quarter. BlackRock Inc. now owns 2,399 shares of the company’s stock worth $100,000 after buying an additional 495 shares during the last quarter.
PRA Health Sciences Company Profile
PRA Health Sciences, Inc is a contract research organization (CRO). 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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