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

After RBC Capital and H.C. Wainwright gave Provention Bio (NASDAQ: PRVB) a Buy rating last month, the company received another Buy, this time from Oppenheimer. Analyst Justin Kim maintained a Buy rating on Provention Bio today and set a price target of $29.00. The company’s shares closed last Thursday at $14.29.

According to TipRanks.com, Kim is a 4-star analyst with an average return of 36.8% and a 61.1% success rate. Kim covers the Healthcare sector, focusing on stocks such as Aurinia Pharmaceuticals, Apellis Pharmaceuticals, and Aldeyra Therapeutics.

Currently, the analyst consensus on Provention Bio is a Strong Buy with an average price target of $30.00, an 111.1% upside from current levels. In a report released today, H.C. Wainwright also reiterated a Buy rating on the stock with a $26.00 price target.

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The company has a one-year high of $18.50 and a one-year low of $4.72. Currently, Provention Bio has an average volume of 928.5K.

Based on the recent corporate insider activity of 16 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of PRVB in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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.