Provention Bio, Inc. (NASDAQ:PRVB) Receives Average Rating of “Buy” from Analysts

Posted by on Jun 8th, 2022

Shares of Provention Bio, Inc. (NASDAQ:PRVB – Get Rating) have been given a consensus recommendation of “Buy” by the nine brokerages that are presently covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $16.25.

PRVB has been the topic of several recent analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Provention Bio in a research report on Friday, April 1st. Zacks Investment Research raised Provention Bio from a “sell” rating to a “hold” rating in a report on Saturday, May 7th.

Shares of NASDAQ:PRVB opened at $4.17 on Wednesday. The business’s 50-day moving average is $5.11 and its 200 day moving average is $5.75. Provention Bio has a 1 year low of $3.40 and a 1 year high of $9.70. The firm has a market capitalization of $267.05 million, a P/E ratio of -2.53 and a beta of 2.75.

Provention Bio (NASDAQ:PRVB – Get Rating) last announced its earnings results on Thursday, May 5th. The company reported ($0.35) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.45) by $0.10. The business had revenue of $0.58 million for the quarter, compared to analyst estimates of $0.73 million. On average, equities analysts predict that Provention Bio will post -2.05 earnings per share for the current fiscal year.

A number of institutional investors have recently bought and sold shares of PRVB. Denali Advisors LLC acquired a new stake in Provention Bio during the fourth quarter worth about $39,000. Royal Bank of Canada grew its holdings in Provention Bio by 44.9% during the second quarter. Royal Bank of Canada now owns 6,534 shares of the company’s stock worth $55,000 after acquiring an additional 2,026 shares during the period. J.W. Cole Advisors Inc. acquired a new stake in Provention Bio during the fourth quarter worth about $73,000. Sawtooth Solutions LLC acquired a new stake in Provention Bio during the first quarter worth about $75,000. Finally, Ensign Peak Advisors Inc purchased a new position in Provention Bio during the fourth quarter worth approximately $82,000. 37.39% of the stock is currently owned by hedge funds and other institutional investors.

About Provention Bio (Get Rating)

Provention Bio, Inc, a clinical stage biopharmaceutical company, focuses on the development and commercialization of therapeutics and 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-3279, which has completed Phase Ib clinical trial for the treatment of lupus; PRV-101, a coxsackie virus B (CVB) vaccine for the prevention of acute CVB infections and onset of T1D; and PRV-015, which is in phase IIb clinical trial for the treatment of gluten-free diet non-responding celiac disease.

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Analyst Recommendations for Provention Bio (NASDAQ:PRVB)

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