Provention Bio (PRVB) Received its Third Buy in a Row

By Austin Angelo

After Chardan Capital and RBC Capital gave Provention Bio (NASDAQ: PRVB) a Buy rating last month, the company received another Buy, this time from H.C. Wainwright. Analyst Ram Selvaraju reiterated a Buy rating on Provention Bio today and set a price target of $34.00. The company’s shares closed last Friday at $12.72.

According to TipRanks.com, Selvaraju is a top 100 analyst with an average return of 36.9% and a 64.3% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as Protalix Biotherapeutics, NeuroBo Pharmaceuticals, and Adamas Pharmaceuticals.

Currently, the analyst consensus on Provention Bio is a Strong Buy with an average price target of $30.75, implying a 137.8% upside from current levels. In a report issued on February 25, Chardan Capital also maintained a Buy rating on the stock with a $35.00 price target.

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Provention Bio’s market cap is currently $798M and has a P/E ratio of -8.60. The company has a Price to Book ratio of 5.89.

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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.