In a report released today, Joseph Pantginis from H.C. Wainwright reiterated a Buy rating on Principia Biopharma (PRNB), with a price target of $108.00. The company’s shares closed last Thursday at $87.24, close to its 52-week high of $94.91.
According to TipRanks.com, Pantginis is a 5-star analyst with an average return of 28.3% and a 53.4% success rate. Pantginis covers the Healthcare sector, focusing on stocks such as Applied Genetic Technologies, Lineage Cell Therapeutics, and Actinium Pharmaceuticals.
Currently, the analyst consensus on Principia Biopharma is a Strong Buy with an average price target of $104.50, representing a 16.0% upside. In a report issued on July 28, Evercore ISI also initiated coverage with a Buy rating on the stock with a $130.00 price target.
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Based on Principia Biopharma’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $32.5 million. In comparison, last year the company earned revenue of $5.16 million and had a GAAP net loss of $13.69 million.
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Principia Biopharma, Inc. is a biopharmaceutical company, which engages in design and development oral therapies to patients with significant unmet medical needs in immunology and oncology. It operates through Tailored Covalency platform, which enables to purpose-design and develop small molecule inhibitors of enzymes and receptor ligands with potencies and selectivities that rival those of injectable biologics, yet maintain the convenience of a pill. Its product pipeline include PRN1008, PRN2246, PRN1371, and immunoproteasome inhibitor. The company was founded by Jack Taunton and Richard A. Miller on October 28, 2008 and is headquartered in South San Francisco, CA.
