PRA Health Sciences, Inc. (NASDAQ:PRAH) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Friday. The brokerage presently has a $87.00 price target on the medical research company’s stock. Zacks Investment Research‘s price target suggests a potential upside of 12.96% from the company’s current price.

According to Zacks, “PRA Health Sciences, Inc. operates as a global contract research organizations providing outsourced clinical development services to the biotechnology and pharmaceutical industries. It offers therapeutic services in the areas of cardio-metabolic, biosimilars, infectious diseases, immunology, neurology and psychiatry, oncology and hematology, rare diseases, and respiratory needs. The Company engages in bioanalytical laboratory, clinical pharmacology, clinical development, strategic solutions, post marketing research, clinical informatics, clinical diagnostics, and safety and risk management activities. PRA Health Sciences, Inc. is based in Raleigh, North Carolina. “

PRAH has been the subject of a number of other research reports. Bank of America Corporation initiated coverage on PRA Health Sciences in a research report on Monday, June 26th. They set a “buy” rating and a $89.00 price objective for the company. Jefferies Group LLC reaffirmed a “buy” rating and set a $92.00 price objective (up previously from $88.00) on shares of PRA Health Sciences in a research report on Thursday, August 10th. Citigroup Inc. reaffirmed a “buy” rating and set a $93.00 price objective (up previously from $90.00) on shares of PRA Health Sciences in a research report on Thursday, August 10th. Credit Suisse Group raised their price objective on PRA Health Sciences from $80.00 to $84.00 and gave the company an “outperform” rating in a research report on Tuesday, August 8th. Finally, BidaskClub lowered PRA Health Sciences from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. PRA Health Sciences currently has a consensus rating of “Buy” and a consensus target price of $85.00.

Shares of PRA Health Sciences (NASDAQ PRAH) traded down 0.49% on Friday, hitting $77.02. The company had a trading volume of 368,930 shares. The firm’s 50 day moving average price is $75.79 and its 200-day moving average price is $69.67. PRA Health Sciences has a 52 week low of $49.29 and a 52 week high of $80.99. The stock has a market capitalization of $4.83 billion, a PE ratio of 49.72 and a beta of 0.45.

PRA Health Sciences (NASDAQ:PRAH) last posted its quarterly earnings data on Monday, August 7th. The medical research company reported $0.62 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.72 by $0.10. PRA Health Sciences had a net margin of 5.15% and a return on equity of 21.17%. The company had revenue of $457.90 million for the quarter, compared to the consensus estimate of $447.79 million. During the same period last year, the business earned $0.63 EPS. The firm’s quarterly revenue was up .5% on a year-over-year basis. Analysts forecast that PRA Health Sciences will post $3.19 earnings per share for the current fiscal year.

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

Institutional investors and hedge funds have recently modified their holdings of the business. PNC Financial Services Group Inc. boosted its stake in PRA Health Sciences by 175.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 44,764 shares of the medical research company’s stock valued at $2,921,000 after purchasing an additional 28,526 shares during the last quarter. American Century Companies Inc. purchased a new stake in PRA Health Sciences during the 1st quarter valued at $7,356,000. Renaissance Group LLC boosted its stake in PRA Health Sciences by 2.5% during the 2nd quarter. Renaissance Group LLC now owns 5,239 shares of the medical research company’s stock valued at $393,000 after purchasing an additional 126 shares during the last quarter. Prudential Financial Inc. boosted its stake in PRA Health Sciences by 109.8% during the 1st quarter. Prudential Financial Inc. now owns 328,630 shares of the medical research company’s stock valued at $21,437,000 after purchasing an additional 171,980 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in 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 valued at $14,253,000 after purchasing an additional 14,059 shares during the last quarter. Institutional investors and hedge funds own 98.38% 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.

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Analyst Recommendations for PRA Health Sciences (NASDAQ:PRAH)

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