Brokers Issue Forecasts for Provention Bio, Inc.’s FY2023 Earnings (NASDAQ:PRVB)
Provention Bio, Inc. (NASDAQ:PRVB – Get Rating) – Analysts at Cantor Fitzgerald issued their FY2023 earnings estimates for shares of Provention Bio in a note issued to investors on Monday, June 6th. Cantor Fitzgerald analyst P. Agrawal anticipates that the company will post earnings per share of ($1.84) for the year. Cantor Fitzgerald currently has a “Overweight” rating on the stock. Provention Bio (NASDAQ:PRVB – Get Rating) last announced its quarterly earnings data on Thursday, May 5th. The company reported ($0.35) EPS for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.10. The company had revenue of $0.58 million for the quarter, compared to analyst estimates of $0.73 million.
Separately, Zacks Investment Research upgraded shares of Provention Bio from a “sell” rating to a “hold” rating in a report on Saturday, May 7th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $14.35.
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NASDAQ:PRVB opened at $4.54 on Thursday. Provention Bio has a 1 year low of $3.40 and a 1 year high of $9.70. The stock has a 50-day moving average price of $5.05 and a two-hundred day moving average price of $5.74.
Several institutional investors and hedge funds have recently made changes to their positions in PRVB. Sessa Capital IM L.P. increased its holdings in shares of Provention Bio by 40.5% during the fourth quarter. Sessa Capital IM L.P. now owns 5,895,525 shares of the company’s stock worth $33,133,000 after purchasing an additional 1,700,409 shares during the period. Verition Fund Management LLC increased its stake in Provention Bio by 5,117.4% in the third quarter. Verition Fund Management LLC now owns 715,729 shares of the company’s stock valued at $4,581,000 after acquiring an additional 702,011 shares during the last quarter. Millennium Management LLC increased its stake in Provention Bio by 39.0% in the third quarter. Millennium Management LLC now owns 783,522 shares of the company’s stock valued at $5,015,000 after acquiring an additional 219,834 shares during the last quarter. Invesco Ltd. increased its stake in Provention Bio by 967.2% in the first quarter. Invesco Ltd. now owns 226,708 shares of the company’s stock valued at $1,659,000 after acquiring an additional 205,464 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in Provention Bio by 10.6% in the third quarter. Geode Capital Management LLC now owns 1,040,106 shares of the company’s stock valued at $6,656,000 after acquiring an additional 99,502 shares during the last quarter. 37.39% of the stock is currently owned by institutional investors.
Provention Bio Company Profile (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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