PRA Health Sciences (NASDAQ:PRAH) Upgraded to “Buy” at Zacks Investment Research

PRA Health Sciences (NASDAQ:PRAH) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday, January 4th. The brokerage presently has a $102.00 price target on the medical research company’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 13.26% from the company’s current price.

According to Zacks, “PRA Health Sciences, Inc. operates as a global contract research organizations providing outsourced clinical development services to the biotechnology and pharmaceutical industries. It offers therapeutic services in the areas of cardio-metabolic, biosimilars, infectious diseases, immunology, neurology and psychiatry, oncology and hematology, rare diseases, and respiratory needs. The Company engages in bioanalytical laboratory, clinical pharmacology, clinical development, strategic solutions, post marketing research, clinical informatics, clinical diagnostics, and safety and risk management activities. PRA Health Sciences, Inc. is based in Raleigh, North Carolina. “

Several other research analysts also recently commented on the stock. Mizuho began coverage on shares of PRA Health Sciences in a report on Thursday, September 21st. They issued a “buy” rating and a $82.00 price objective for the company. Robert W. Baird reaffirmed a “buy” rating and issued a $88.00 price objective on shares of PRA Health Sciences in a report on Monday, October 9th. Credit Suisse Group reissued an “outperform” rating and issued a $90.00 price target (up from $84.00) on shares of PRA Health Sciences in a report on Monday, October 16th. Jefferies Group reissued a “buy” rating and issued a $95.00 price target on shares of PRA Health Sciences in a report on Thursday, October 26th. Finally, SunTrust Banks reissued a “buy” rating and issued a $101.00 price target on shares of PRA Health Sciences in a report on Friday, October 27th. One analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $92.00.

Shares of PRA Health Sciences (NASDAQ PRAH) opened at $90.06 on Thursday. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.01 and a quick ratio of 1.01. The company has a market cap of $5,788.19, a PE ratio of 50.31, a price-to-earnings-growth ratio of 1.28 and a beta of 0.41. PRA Health Sciences has a one year low of $54.08 and a one year high of $92.84.

PRA Health Sciences (NASDAQ:PRAH) last released its earnings results on Wednesday, October 25th. The medical research company reported $0.88 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.85 by $0.03. PRA Health Sciences had a net margin of 5.64% and a return on equity of 21.66%. The firm had revenue of $494.55 million during the quarter, compared to the consensus estimate of $477.89 million. During the same period in the prior year, the firm earned $0.64 EPS. The company’s revenue was up 23.7% compared to the same quarter last year. equities research analysts forecast that PRA Health Sciences will post 3.2 earnings per share for the current year.

In related news, Director Matthew P. Young sold 5,115 shares of the business’s stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $79.90, for a total transaction of $408,688.50. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider David W. Dockhorn sold 72,850 shares of the business’s stock in a transaction dated Thursday, December 28th. The stock was sold at an average price of $90.83, for a total transaction of $6,616,965.50. The disclosure for this sale can be found here. In the last three months, insiders sold 150,815 shares of company stock worth $13,642,620. Insiders own 2.10% of the company’s stock.

A number of large investors have recently bought and sold shares of PRAH. Capital Research Global Investors boosted its stake in PRA Health Sciences by 318.3% during the second quarter. Capital Research Global Investors now owns 2,175,340 shares of the medical research company’s stock worth $163,172,000 after acquiring an additional 1,655,336 shares in the last quarter. BlackRock Inc. raised its holdings in PRA Health Sciences by 28.2% in the second quarter. BlackRock Inc. now owns 3,662,954 shares of the medical research company’s stock worth $274,759,000 after buying an additional 805,573 shares during the last quarter. Wells Fargo & Company MN raised its holdings in PRA Health Sciences by 55.8% in the third quarter. Wells Fargo & Company MN now owns 1,207,069 shares of the medical research company’s stock worth $91,943,000 after buying an additional 432,449 shares during the last quarter. Hood River Capital Management LLC raised its holdings in PRA Health Sciences by 80.3% in the second quarter. Hood River Capital Management LLC now owns 619,924 shares of the medical research company’s stock worth $46,500,000 after buying an additional 276,045 shares during the last quarter. Finally, Stephens Investment Management Group LLC raised its holdings in PRA Health Sciences by 236.9% in the third quarter. Stephens Investment Management Group LLC now owns 391,672 shares of the medical research company’s stock worth $29,834,000 after buying an additional 275,414 shares during the last quarter. 98.22% of the stock is currently owned by institutional investors and hedge funds.

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About PRA Health Sciences

PRA Health Sciences, Inc is a contract research organization. The Company provides outsourced clinical development services to the biotechnology and pharmaceutical industries. The Company offers therapeutic services in areas of pharmaceutical development, including oncology, central nervous system, inflammation and infectious diseases.

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