Oppenheimer & RBC initiate coverage of PRVB with $29 & $26 PT's, respectively.
Oppenheimer Releases a Buy Rating on Provention Bio (PRVB)
Catie Powers- June 15, 2020, 4:13 PM EDTSHARE ON:
Oppenheimer analyst Justin Kim assigned a Buy rating to Provention Bio (PRVB) today and set a price target of $29.00. The company’s shares closed last Monday at $15.64.
According to TipRanks.com, Kim is a 4-star analyst with an average return of 34.9% and a 55.6% success rate. Kim covers the Healthcare sector, focusing on stocks such as Aurinia Pharmaceuticals, Apellis Pharmaceuticals, and Aldeyra Therapeutics.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Provention Bio with a $26.00 average price target, implying an 86.0% upside from current levels. In a report issued on June 4, RBC Capital also initiated coverage with a Buy rating on the stock with a $25.00 price target.
The company has a one-year high of $18.50 and a one-year low of $4.72. Currently, Provention Bio has an average volume of 587.3K.
Based on the recent corporate insider activity of 20 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of PRVB in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Provention Bio, Inc. is a clinical-stage biopharmaceutical company, which engages in the development and commercialization of novel therapeutics and solutions. Its products include PRV-031 for the interception of type 1 diabetes (T1D); PRV-015 for the treatment of gluten-free diet non-responding celiac disease; PRV-6527 for Crohn’s disease; PRV-300 for ulcerative colitis; PRV-3279 for the treatment of lupus; and PRV-101 for the prevention of acute coxsackie virus B (CVB), and the prevention of T1D onset. The company was founded by Francisco Leon and Ashleigh Palmer on October 4, 2016 and is headquartered in Lebanon, NJ.
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