Oppenheimer Thinks Provention Bio’s Stock is Going to Recover


Oppenheimer analyst Justin Kim maintained a Buy rating on Provention Bio (PRVB) today and set a price target of $18.00. The company’s shares closed last Thursday at $7.01, close to its 52-week low of $6.36.

According to TipRanks.com, Kim is a 4-star analyst with an average return of 24.7% and a 56.4% 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 $20.50 average price target, implying a 184.7% upside from current levels. In a report issued on April 28, H.C. Wainwright also reiterated a Buy rating on the stock with a $27.00 price target.

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The company has a one-year high of $20.05 and a one-year low of $6.36. Currently, Provention Bio has an average volume of 1.27M.

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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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