Brokers Set Expectations for Provention Bio, Inc.’s Q3 2022 Earnings (NASDAQ:PRVB)

Provention Bio, Inc. (NASDAQ:PRVBGet Rating) – Research analysts at Jefferies Financial Group issued their Q3 2022 earnings estimates for Provention Bio in a report issued on Tuesday, September 20th. Jefferies Financial Group analyst C. Howerton expects that the company will post earnings of ($0.53) per share for the quarter. Jefferies Financial Group has a “Buy” rating and a $10.00 price objective on the stock. The consensus estimate for Provention Bio’s current full-year earnings is ($1.81) per share. Jefferies Financial Group also issued estimates for Provention Bio’s Q4 2022 earnings at ($0.61) EPS, FY2022 earnings at ($1.95) EPS, FY2023 earnings at ($2.19) EPS, FY2024 earnings at ($2.26) EPS, FY2025 earnings at ($1.49) EPS and FY2026 earnings at ($0.59) EPS.

Provention Bio (NASDAQ:PRVBGet Rating) last posted its quarterly earnings data on Thursday, August 4th. The company reported ($0.46) EPS for the quarter, topping the consensus estimate of ($0.49) by $0.03. The company had revenue of $0.75 million during the quarter, compared to analyst estimates of $0.80 million. Provention Bio had a negative net margin of 3,840.68% and a negative return on equity of 100.07%. During the same period in the previous year, the firm earned ($0.46) earnings per share.

A number of other analysts have also issued reports on the stock. Chardan Capital lowered their target price on shares of Provention Bio from $22.50 to $21.00 and set a “buy” rating for the company in a research note on Friday, August 5th. HC Wainwright lowered their target price on shares of Provention Bio from $25.00 to $18.00 and set a “buy” rating for the company in a research note on Monday, July 11th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $16.33.

Provention Bio Trading Down 1.1 %

Shares of PRVB opened at $4.42 on Thursday. The firm has a market capitalization of $283.06 million, a P/E ratio of -2.68 and a beta of 2.37. Provention Bio has a 12-month low of $3.18 and a 12-month high of $8.04. The firm has a fifty day moving average price of $4.64 and a 200-day moving average price of $5.00.

Institutional Trading of Provention Bio

A number of hedge funds have recently added to or reduced their stakes in PRVB. Sessa Capital IM L.P. raised its holdings in Provention Bio by 1.8% in the first quarter. Sessa Capital IM L.P. now owns 6,000,000 shares of the company’s stock worth $43,920,000 after purchasing an additional 104,475 shares in the last quarter. Vanguard Group Inc. raised its holdings in Provention Bio by 2.2% in the first quarter. Vanguard Group Inc. now owns 2,551,813 shares of the company’s stock worth $18,680,000 after purchasing an additional 54,980 shares in the last quarter. State Street Corp raised its holdings in Provention Bio by 5.1% in the first quarter. State Street Corp now owns 1,274,666 shares of the company’s stock worth $9,331,000 after purchasing an additional 61,956 shares in the last quarter. DG Capital Management LLC raised its holdings in Provention Bio by 19.1% in the second quarter. DG Capital Management LLC now owns 622,568 shares of the company’s stock worth $2,490,000 after purchasing an additional 100,000 shares in the last quarter. Finally, Bioimpact Capital LLC bought a new position in Provention Bio in the second quarter worth about $2,370,000. 37.39% of the stock is owned by hedge funds and other institutional investors.

About Provention Bio

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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.

See Also

Earnings History and Estimates for Provention Bio (NASDAQ:PRVB)

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