Provention Bio (PRVB) Scheduled to Post Quarterly Earnings on Thursday

Provention Bio (NASDAQ:PRVB – Get Rating) is set to release its earnings data before the market opens on Thursday, May 5th. Analysts expect Provention Bio to post earnings of ($0.45) per share for the quarter.

Provention Bio (NASDAQ:PRVB – Get Rating) last announced its quarterly earnings data on Thursday, February 24th. The company reported ($0.41) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.44) by $0.03. The company had revenue of $0.72 million for the quarter, compared to the consensus estimate of $0.71 million. During the same quarter last year, the firm posted ($0.58) earnings per share. On average, analysts expect Provention Bio to post $-2 EPS for the current fiscal year and $-1 EPS for the next fiscal year.

Shares of NASDAQ:PRVB opened at $4.73 on Friday. The stock has a 50 day moving average of $6.62 and a 200 day moving average of $6.18. The company has a market cap of $299.88 million, a PE ratio of -2.60 and a beta of 2.60. Provention Bio has a 12-month low of $3.40 and a 12-month high of $11.49.

A number of large investors have recently added to or reduced their stakes in the stock. California State Teachers Retirement System raised its holdings in Provention Bio by 2.5% during the 4th quarter. California State Teachers Retirement System now owns 70,576 shares of the company’s stock valued at $397,000 after buying an additional 1,691 shares during the period. Royal Bank of Canada increased its stake in Provention Bio by 44.9% in the second quarter. Royal Bank of Canada now owns 6,534 shares of the company’s stock worth $55,000 after purchasing an additional 2,026 shares during the period. JPMorgan Chase & Co. increased its stake in Provention Bio by 8.0% in the fourth quarter. JPMorgan Chase & Co. now owns 28,579 shares of the company’s stock worth $160,000 after purchasing an additional 2,109 shares during the period. Invesco Ltd. increased its stake in Provention Bio by 10.4% in the third quarter. Invesco Ltd. now owns 24,658 shares of the company’s stock worth $157,000 after purchasing an additional 2,313 shares during the period. Finally, Credit Suisse AG increased its stake in Provention Bio by 6.9% in the fourth quarter. Credit Suisse AG now owns 38,161 shares of the company’s stock worth $214,000 after purchasing an additional 2,454 shares during the period. Institutional investors own 35.00% of the company’s stock.

A number of research analysts recently commented on PRVB shares. HC Wainwright reissued a “buy” rating and issued a $25.00 price target on shares of Provention Bio in a report on Monday, January 31st. Zacks Investment Research cut Provention Bio from a “hold” rating to a “sell” rating in a report on Wednesday. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Provention Bio in a report on Friday, April 1st. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Provention Bio presently has a consensus rating of “Buy” and an average price target of $16.18.

About Provention Bio (Get Rating)

Provention Bio, Inc, a clinical stage biopharmaceutical company, focuses on the development and commercialization of therapeutics and solutions to intercept and prevent immune-mediated diseases. Its products candidates include PRV-031 teplizumab and monoclonal antibodies (mAb) that is in Phase III clinical trial for the interception of type one diabetes (T1D); PRV-3279, which has completed Phase Ib clinical trial for the treatment of lupus; PRV-101, a coxsackie virus B (CVB) vaccine for the prevention of acute CVB infections and onset of T1D; and PRV-015, which is in phase IIb clinical trial for the treatment of gluten-free diet non-responding celiac disease.

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