Leerink Partners Thinks Provention Bio’s Stock is Going to Recover

By Carrie Williams

In a report issued on May 28, Thomas Smith from Leerink Partners maintained a Buy rating on Provention Bio (PRVBResearch Report), with a price target of $16.00. The company’s shares closed last Friday at $7.61, close to its 52-week low of $6.15.

According to TipRanks.com, Smith has 0 stars on 0-5 stars ranking scale with an average return of -7.2% and a 32.1% success rate. Smith covers the Healthcare sector, focusing on stocks such as Connect Biopharma Holdings, Madrigal Pharmaceuticals, and Eledon Pharmaceuticals.

Provention Bio has an analyst consensus of Strong Buy, with a price target consensus of $18.58, a 104.2% upside from current levels. In a report issued on May 28, Oppenheimer also assigned a Buy rating to the stock with a $18.00 price target.

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The company has a one-year high of $20.05 and a one-year low of $6.15. Currently, Provention Bio has an average volume of 2.42M.

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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-300 for ulcerative colitis; PRV-3279 for the treatment of lupus; and PRV-101 for the prevention of acute coxsackie virus B (CVB), and the prevention of T1D onset. The company was founded by Francisco Leon and Ashleigh Palmer on October 4, 2016 and is headquartered in Lebanon, NJ.