PRA Health Sciences (PRAH) Gets a Buy Rating from Credit Suisse

By Jason Carr

In a report released today, Erin Wright from Credit Suisse maintained a Buy rating on PRA Health Sciences (PRAHResearch Report), with a price target of $113.00. The company’s shares closed last Friday at $88.05.

According to TipRanks.com, Wright is a 5-star analyst with an average return of 9.3% and a 63.5% success rate. Wright covers the Healthcare sector, focusing on stocks such as Phibro Animal Health, Quest Diagnostics, and Fulgent Genetics.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for PRA Health Sciences with a $98.80 average price target.

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Based on PRA Health Sciences’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $800 million and net profit of $74.8 million. In comparison, last year the company earned revenue of $730 million and had a net profit of $71.45 million.

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PRA Health Sciences, Inc. engages in the provision of outsourced clinical development services to the biotechnology and pharmaceutical industries. It operates through Clinical Research and Data Solutions segment. The Clinical Research segment serves biopharmaceutical clients and offers outsourced clinical research and clinical trial related services. The Data Solutions segment involves in data and analytics; technology solutions and real-world insights; and services primarily to the company’s life science clients. The company was founded in 1976 and is headquartered in Raleigh, NC.