PRA Health Sciences Inc (PRAH) reported quarterly earnings results on Thursday, Jul-28-2016. The company said it had a profit of $0.63 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.04. Analysts had a consensus of $0.59. The company posted revenue of $455.80 million in the period, compared to analysts expectations of $381.28 million. The company’s revenue was up 16.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.47 EPS.
Many Wall Street Analysts have commented on PRA Health Sciences Inc. Credit Suisse Initiated PRA Health Sciences Inc on Jun 21, 2016 to “Neutral”, Price Target of the shares are set at $43.First Analysis Sec Initiated PRA Health Sciences Inc on Jun 21, 2016 to “Equal-Weight”, Price Target of the shares are set at $47.PRA Health Sciences Inc was Upgraded by KeyBanc Capital Mkts to ” Overweight” on Jun 13, 2016.
PRA Health Sciences Inc opened for trading at $43.66 and hit $44.14 on the upside on Thursday, eventually ending the session at $43.88, with a gain of 0.57% or 0.25 points. The heightened volatility saw the trading volume jump to 4,98,934 shares. Company has a market cap of $2,657 M.
In a different news, on May 10, 2016, Linda Baddour (Executive VP & CFO) sold 92,308 shares at $46.70 per share price. According to the SEC, on Mar 10, 2016, Colin Shannon (President & CEO) sold 77,019 shares at $42.26 per share price.
PRA Health Sciences Inc. is a contract research organization (CRO). The Company provides outsourced clinical development services to the biotechnology and pharmaceutical industries. It offers therapeutic services in areas of pharmaceutical development including oncology central nervous system inflammation and infectious diseases. The Company performs an array of services across the spectrum of clinical development programs from the filing of investigational new drug (INDs) and similar regulatory applications to conducting all phases of clinical trials. Its service offerings include Product Registration Services which includes Phase IIb through III product registration trials and Phase IV trials inclusive of post-marketing commitments and registries; Strategic Solutions which provides Embedded Solutions and functional outsourcing services and Early Development Services which includes Phase I through Phase IIa clinical trials and bioanalytical laboratory services.