Stifel Nicolaus initiated coverage on shares of Principia Biopharma (NASDAQ:PRNB) in a research note released on Tuesday morning, Benzinga reports. The firm issued a buy rating and a $45.00 price target on the stock.

A number of other analysts have also issued reports on PRNB. Zacks Investment Research lowered shares of Principia Biopharma from a buy rating to a sell rating in a research note on Wednesday, January 9th. Leerink Swann set a $42.00 price target on shares of Principia Biopharma and gave the stock a buy rating in a research note on Thursday, March 21st. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. The company has a consensus rating of Buy and a consensus price target of $43.00.

Shares of NASDAQ:PRNB opened at $29.64 on Tuesday. The stock has a market cap of $692.32 million and a price-to-earnings ratio of 52.00. Principia Biopharma has a 1 year low of $22.00 and a 1 year high of $38.34.

Principia Biopharma (NASDAQ:PRNB) last issued its quarterly earnings results on Tuesday, March 19th. The company reported $0.37 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.31) by $0.68. The business had revenue of $26.14 million for the quarter, compared to analysts’ expectations of $13.70 million. As a group, sell-side analysts anticipate that Principia Biopharma will post -2.51 EPS for the current fiscal year.

Several hedge funds have recently added to or reduced their stakes in PRNB. Strs Ohio purchased a new stake in shares of Principia Biopharma during the fourth quarter worth approximately $41,000. Citigroup Inc. purchased a new stake in shares of Principia Biopharma during the fourth quarter worth approximately $45,000. American International Group Inc. purchased a new stake in shares of Principia Biopharma during the fourth quarter worth approximately $103,000. Deutsche Bank AG purchased a new stake in shares of Principia Biopharma during the fourth quarter worth approximately $204,000. Finally, Citadel Advisors LLC purchased a new stake in shares of Principia Biopharma during the third quarter worth approximately $211,000. Hedge funds and other institutional investors own 81.91% of the company’s stock.

About Principia Biopharma

Principia Biopharma Inc, a clinical-stage biopharmaceutical company, focuses on developing novel oral therapies for immunology and oncology in the United States. It is developing PRN1008, an inhibitor that is in Phase II clinical trial for the treatment of pemphigus, a chronic skin disease, as well as in Phase II clinical trial for the treatment of immune thrombocytopenic purpura; PRN2246, an inhibitor that is in Phase I clinical trial for the treatment of multiple sclerosis and other central nervous system diseases; PRN1371, a drug candidate, which is in Phase I clinical trial for the treatment of solid tumors; and oral small molecule inhibitors of the immunoproteasome.

Featured Story: Trading Ex-Dividend Strategy

Analyst Recommendations for Principia Biopharma (NASDAQ:PRNB)

Receive News & Ratings for Principia Biopharma Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Principia Biopharma and related companies with MarketBeat.com's FREE daily email newsletter.