H.C. Wainwright Thinks Provention Bio Inc’s Stock is Going to Recover


H.C. Wainwright analyst Ram Selvaraju reiterated a Buy rating on Provention Bio Inc (PRVB) today and set a price target of $8. The company’s shares closed yesterday at $2.38, close to its 52-week low of $1.52.

Selvaraju observed:

“We value Provention Bio using a discounted cash flow (DCF)-based methodology, which ascribes a 70% probability of approval to PRV-031, a 50% probability of approval to 40% probability of approval to PRV-300. We do not currently assign value to any of the company’s other assets.”

According to TipRanks.com, Selvaraju is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -4.1% and a 36.6% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as Biospecifics Technologies Corp, EyePoint Pharmaceuticals Inc, and Bausch Health Companies Inc.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Provention Bio Inc with a $7 average price target.

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The company has a one-year high of $8 and a one-year low of $1.52. Currently, Provention Bio Inc has an average volume of 42.57K.

Based on the recent corporate insider activity of 15 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 developement of biopharmaceutical products. It focuses its product line on type 1 diabetes, Crohn’s disease, ulcerative colitis, and emerging viral infections.

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