PRA Health Sciences Inc (PRAH) was Downgraded by UBS to ” Neutral” according to the research note released today. The brokerage firm has raised the Price Target to $ 55 from a previous price target of $50 . Earlier the firm had a rating of “Buy ” on the company shares. UBS advised their investors in a research report released on Sep 6, 2016.
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.
On the company’s financial health, PRA Health Sciences Inc reported $0.63 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $0.59. The company had revenue of $455.80 million for the quarter, 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.
PRA Health Sciences Inc opened for trading at $50.72 and hit $50.72 on the upside on Thursday, eventually ending the session at $50.56, with a gain of 0.02% or 0.01 points. The heightened volatility saw the trading volume jump to 5,26,423 shares. Company has a market cap of $3,081 M.
In a different news, on Aug 22, 2016, Colin Shannon (President & CEO) sold 113,133 shares at $51.58 per share price. According to the SEC, on Aug 17, 2016, Linda Baddour (Executive VP & CFO) sold 69,380 shares at $52.00 per share price. On Aug 15, 2016, David W Dockhorn (Executive VP & CCO) sold 107,257 shares at $49.00 per share price, according to the Form-4 filing with the securities and exchange commission.
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.