Provention Bio Inc (PRVB) Gets a Buy Rating from H.C. Wainwright


In a report released today, Ram Selvaraju from H.C. Wainwright reiterated a Buy rating on Provention Bio Inc (PRVB), with a price target of $8. The company’s shares closed yesterday at $3.36.

According to TipRanks.com, Selvaraju is a 1-star analyst with an average return of -0.2% and a 33.9% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as Taro Pharmaceutical Industries Ltd., Biospecifics Technologies Corp, and EyePoint Pharmaceuticals 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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Based on Provention Bio Inc’s latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $5.68 million. In comparison, last year the company had a GAAP net loss of $5.06 million.

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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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