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Home›Brokers›Brokers Issue Forecasts for Provention Bio, Inc.’s FY2023 Earnings (NASDAQ:PRVB)

Brokers Issue Forecasts for Provention Bio, Inc.’s FY2023 Earnings (NASDAQ:PRVB)

By Megan
June 9, 2022
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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.

Further Reading

Earnings History and Estimates for Provention Bio (NASDAQ:PRVB)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected]

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