Wells Fargo & Co initiated coverage on shares of Principia Biopharma (NASDAQ:PRNB) in a report issued on Tuesday, Marketbeat Ratings reports. The firm issued an outperform rating on the stock.

Separately, Bank of America began coverage on shares of Principia Biopharma in a research note on Tuesday. They issued a buy rating on the stock.

Shares of NASDAQ:PRNB opened at $25.09 on Tuesday. Principia Biopharma has a 12 month low of $23.95 and a 12 month high of $36.00.

In related news, major shareholder Leaf Ventures Ii L.P. New bought 270,000 shares of the company’s stock in a transaction on Tuesday, September 18th. The shares were acquired at an average cost of $17.00 per share, for a total transaction of $4,590,000.00. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, Director Srinivas Akkaraju bought 175,000 shares of the company’s stock in a transaction on Tuesday, September 18th. The stock was bought at an average price of $17.00 per share, for a total transaction of $2,975,000.00. The disclosure for this purchase can be found here.

Principia Biopharma Company Profile

Principia Biopharma Inc, a clinical-stage biopharmaceutical company, focuses on developing novel oral therapies for immunology and oncology in the United States. It is developing PRN1008, an inhibitor that is in Phase II clinical trial for the treatment of pemphigus, a chronic skin disease, as well as in Phase II clinical trial for the treatment of immune thrombocytopenic purpura; PRN2246, an inhibitor that is in Phase I clinical trial for the treatment of multiple sclerosis and other central nervous system diseases; PRN1371, a drug candidate, which is in Phase I clinical trial for the treatment of solid tumors; and oral small molecule inhibitors of the immunoproteasome.

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