Provention Bio (NASDAQ:PRVB) Given New $19.00 Price Target at SVB Leerink

Provention Bio (NASDAQ:PRVBGet Rating) had its target price hoisted by SVB Leerink from $16.00 to $19.00 in a research report released on Monday, Stock Target Advisor reports. They currently have an outperform rating on the stock.

Other analysts also recently issued reports about the company. Oppenheimer lifted their price objective on Provention Bio from $14.00 to $18.00 and gave the company an outperform rating in a report on Friday. Jefferies Financial Group boosted their target price on shares of Provention Bio from $18.00 to $22.00 and gave the stock a buy rating in a report on Friday. Finally, Chardan Capital boosted their target price on shares of Provention Bio from $24.00 to $30.00 and gave the stock a buy rating in a report on Friday. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of Buy and an average target price of $21.40.

Provention Bio Stock Performance

PRVB stock opened at $7.77 on Monday. The company has a debt-to-equity ratio of 0.16, a current ratio of 7.58 and a quick ratio of 7.58. The business has a 50-day moving average price of $6.41 and a 200 day moving average price of $5.04. The company has a market capitalization of $677.47 million, a P/E ratio of -4.98 and a beta of 2.36. Provention Bio has a 1-year low of $3.18 and a 1-year high of $9.65.

Institutional Investors Weigh In On Provention Bio

Large investors have recently modified their holdings of the business. Parallax Volatility Advisers L.P. boosted its position in Provention Bio by 8.9% in the third quarter. Parallax Volatility Advisers L.P. now owns 16,122 shares of the company’s stock valued at $73,000 after buying an additional 1,322 shares during the last quarter. BNP Paribas Arbitrage SNC boosted its position in Provention Bio by 29.0% in the third quarter. BNP Paribas Arbitrage SNC now owns 21,517 shares of the company’s stock valued at $97,000 after buying an additional 4,840 shares during the last quarter. Alliancebernstein L.P. boosted its position in Provention Bio by 5.4% in the third quarter. Alliancebernstein L.P. now owns 91,600 shares of the company’s stock valued at $412,000 after buying an additional 4,700 shares during the last quarter. State Street Corp lifted its holdings in Provention Bio by 7.0% in the third quarter. State Street Corp now owns 1,294,425 shares of the company’s stock valued at $5,825,000 after acquiring an additional 85,236 shares during the period. Finally, Two Sigma Investments LP lifted its holdings in Provention Bio by 167.4% in the third quarter. Two Sigma Investments LP now owns 159,722 shares of the company’s stock valued at $719,000 after acquiring an additional 99,995 shares during the period. Hedge funds and other institutional investors own 37.39% of the company’s stock.

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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