Brokerages Set PRA Health Sciences, Inc. (PRAH) Price Target at $74.33

PRA Health Sciences, Inc. (NASDAQ:PRAH) has been assigned a consensus recommendation of “Buy” from the eleven analysts that are presently covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 1 year price target among brokers that have covered the stock in the last year is $76.71.

Several equities analysts recently weighed in on the company. Jefferies Group LLC set a $73.00 price objective on PRA Health Sciences and gave the company a “buy” rating in a research note on Thursday, June 1st. Bank of America Corporation assumed coverage on PRA Health Sciences in a research note on Monday, June 26th. They issued a “buy” rating and a $89.00 price objective for the company. Credit Suisse Group reaffirmed an “outperform” rating and issued a $76.00 price objective (up from $69.00) on shares of PRA Health Sciences in a research note on Tuesday, June 6th. Robert W. Baird raised their price objective on PRA Health Sciences from $82.00 to $83.00 and gave the company an “outperform” rating in a research note on Tuesday. Finally, Citigroup Inc. reaffirmed a “buy” rating and issued a $90.00 price objective (up from $73.00) on shares of PRA Health Sciences in a research note on Wednesday, June 28th.

A number of institutional investors have recently added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. bought a new position in PRA Health Sciences during the second quarter valued at $1,332,000. Renaissance Group LLC increased its position in PRA Health Sciences by 2.5% in the second quarter. Renaissance Group LLC now owns 5,239 shares of the medical research company’s stock valued at $393,000 after buying an additional 126 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in PRA Health Sciences by 12.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,488 shares of the medical research company’s stock valued at $112,000 after buying an additional 160 shares during the last quarter. Pacer Advisors Inc. increased its position in PRA Health Sciences by 42.6% in the second quarter. Pacer Advisors Inc. now owns 5,656 shares of the medical research company’s stock valued at $424,000 after buying an additional 1,691 shares during the last quarter. Finally, Royce & Associates LP increased its position in PRA Health Sciences by 88.7% in the second quarter. Royce & Associates LP now owns 53,200 shares of the medical research company’s stock valued at $3,991,000 after buying an additional 25,000 shares during the last quarter.

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Shares of PRA Health Sciences (NASDAQ PRAH) traded up 7.27% during mid-day trading on Friday, hitting $79.63. The stock had a trading volume of 1,105,707 shares. The company has a market cap of $4.97 billion, a PE ratio of 47.57 and a beta of 0.45. The stock has a 50 day moving average price of $75.01 and a 200-day moving average price of $66.37. PRA Health Sciences has a 52-week low of $46.52 and a 52-week high of $80.99.

PRA Health Sciences (NASDAQ:PRAH) last released its quarterly earnings data on Monday, August 7th. The medical research company reported $0.62 earnings per share for the quarter, missing the consensus estimate of $0.72 by $0.10. PRA Health Sciences had a net margin of 5.85% and a return on equity of 21.87%. The firm had revenue of $457.90 million during the quarter, compared to analysts’ expectations of $447.79 million. During the same period in the previous year, the business earned $0.63 earnings per share. The business’s revenue for the quarter was up .5% on a year-over-year basis. On average, equities analysts expect that PRA Health Sciences will post $3.15 earnings per share for the current fiscal year.

PRA Health Sciences Company Profile

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.

Analyst Recommendations for PRA Health Sciences (NASDAQ:PRAH)

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