PRA Health Sciences, Inc. (PRAH) Given Average Recommendation of “Buy” by Brokerages
PRA Health Sciences, Inc. (NASDAQ:PRAH) has earned an average recommendation of “Buy” from the nine brokerages that are currently covering the company, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $74.33.
Several analysts recently weighed in on the company. Bank of America Corporation initiated coverage on PRA Health Sciences in a report on Monday, June 26th. They set a “buy” rating and a $89.00 price target for the company. Credit Suisse Group reaffirmed an “outperform” rating and issued a $76.00 price objective (up from $69.00) on shares of PRA Health Sciences in a report on Tuesday, June 6th. Jefferies Group LLC set a $73.00 price objective on PRA Health Sciences and gave the company a “buy” rating in a report on Thursday, June 1st. Finally, Citigroup Inc. reaffirmed a “buy” rating and issued a $90.00 price objective (up from $73.00) on shares of PRA Health Sciences in a report on Wednesday, June 28th.
Institutional investors have recently bought and sold shares of the company. Meeder Asset Management Inc. boosted its position in PRA Health Sciences by 144.0% in the second quarter. Meeder Asset Management Inc. now owns 1,535 shares of the medical research company’s stock worth $115,000 after buying an additional 906 shares during the period. Envestnet Asset Management Inc. boosted its position in PRA Health Sciences by 232.3% in the first quarter. Envestnet Asset Management Inc. now owns 1,844 shares of the medical research company’s stock worth $121,000 after buying an additional 1,289 shares during the period. Ameritas Investment Partners Inc. acquired a new position in PRA Health Sciences during the first quarter worth approximately $136,000. First Bank & Trust boosted its position in PRA Health Sciences by 1.7% in the first quarter. First Bank & Trust now owns 3,159 shares of the medical research company’s stock worth $206,000 after buying an additional 54 shares during the period. Finally, Teacher Retirement System of Texas acquired a new position in PRA Health Sciences during the first quarter worth approximately $208,000.
Shares of PRA Health Sciences (PRAH) traded down 1.14% on Tuesday, hitting $75.37. The company had a trading volume of 266,829 shares. The company has a market capitalization of $4.71 billion, a P/E ratio of 45.02 and a beta of 0.48. The firm has a 50-day moving average price of $74.44 and a 200 day moving average price of $65.21. PRA Health Sciences has a 12-month low of $41.41 and a 12-month high of $79.98.
PRA Health Sciences (NASDAQ:PRAH) last released its quarterly earnings results on Tuesday, April 25th. The medical research company reported $0.60 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.02. The business had revenue of $427.08 million during the quarter, compared to analysts’ expectations of $426.81 million. PRA Health Sciences had a return on equity of 21.87% and a net margin of 5.85%. The firm’s revenue for the quarter was up 14.7% compared to the same quarter last year. During the same period last year, the firm posted $0.55 EPS. Equities analysts expect that PRA Health Sciences will post $3.15 EPS for the current year.
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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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