Provention Bio, Inc. (NASDAQ:PRVB) Expected to Announce Quarterly Sales of $3.75 Million

Equities research analysts expect Provention Bio, Inc. (NASDAQ:PRVB) to announce sales of $3.75 million for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Provention Bio’s earnings. The highest sales estimate is $7.00 million and the lowest is $500,000.00. The business is scheduled to announce its next quarterly earnings report on Thursday, November 4th.

According to Zacks, analysts expect that Provention Bio will report full year sales of $5.50 million for the current financial year, with estimates ranging from $1.00 million to $10.00 million. For the next fiscal year, analysts forecast that the company will report sales of $34.30 million, with estimates ranging from $2.47 million to $61.80 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Provention Bio.

Provention Bio (NASDAQ:PRVB) last released its quarterly earnings results on Thursday, August 5th. The company reported ($0.46) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.51) by $0.05.

Several research firms have commented on PRVB. SVB Leerink reaffirmed a “buy” rating and set a $16.00 price target on shares of Provention Bio in a research report on Monday. Oppenheimer decreased their target price on Provention Bio from $18.00 to $16.00 and set an “outperform” rating on the stock in a research report on Friday, August 6th. HC Wainwright reissued a “buy” rating and issued a $25.00 price target on shares of Provention Bio in a report on Tuesday, September 14th. Chardan Capital reiterated a “buy” rating on shares of Provention Bio in a research note on Thursday, July 1st. Finally, Royal Bank of Canada restated a “hold” rating and set a $8.00 price target on shares of Provention Bio in a research note on Sunday, July 11th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Provention Bio currently has an average rating of “Buy” and a consensus target price of $17.75.

Shares of PRVB traded down $0.25 during midday trading on Monday, hitting $6.42. The company had a trading volume of 520,086 shares, compared to its average volume of 1,662,492. Provention Bio has a 1 year low of $5.59 and a 1 year high of $20.05. The firm has a market capitalization of $406.87 million, a P/E ratio of -3.15 and a beta of 3.01. The company’s 50-day simple moving average is $6.35 and its 200-day simple moving average is $8.02.

Institutional investors have recently bought and sold shares of the company. BlackRock Inc. boosted its holdings in Provention Bio by 1.9% during the second quarter. BlackRock Inc. now owns 4,547,147 shares of the company’s stock valued at $38,333,000 after purchasing an additional 84,038 shares in the last quarter. Gilder Gagnon Howe & Co. LLC raised its position in shares of Provention Bio by 31.8% during the 1st quarter. Gilder Gagnon Howe & Co. LLC now owns 3,109,874 shares of the company’s stock valued at $32,638,000 after acquiring an additional 750,192 shares during the last quarter. VR Adviser LLC bought a new stake in shares of Provention Bio during the 2nd quarter valued at $24,470,000. State Street Corp grew its holdings in shares of Provention Bio by 22.4% in the 2nd quarter. State Street Corp now owns 1,328,337 shares of the company’s stock valued at $11,198,000 after buying an additional 242,728 shares during the period. Finally, Geode Capital Management LLC grew its holdings in shares of Provention Bio by 8.6% in the 2nd quarter. Geode Capital Management LLC now owns 940,604 shares of the company’s stock valued at $7,929,000 after buying an additional 74,854 shares during the period. Institutional investors and hedge funds own 36.87% of the company’s stock.

About Provention Bio

Provention Bio, Inc is a clinical-stage biopharmaceutical company, which engages in the development and commercialization of novel therapeutics and solutions. Its products include PRV-031 for the interception of type 1 diabetes (T1D); PRV-015 for the treatment of gluten-free diet non-responding celiac disease; PRV-6527 for Crohn’s disease; PRV-3279 for the treatment of lupus; and PRV-101 for the prevention of acute coxsackie virus B (CVB), and the prevention of type 1 diabetes (T1D) onset.

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

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