Is Buying 52-Week Stock Like PRA Health Sciences, Inc. (PRAH) a Winning Strategy?

July 13, 2018 - By Richard Doty

PRA Health Sciences, Inc. (NASDAQ:PRAH) Logo

The stock of PRA Health Sciences, Inc. (NASDAQ:PRAH) hit a new 52-week high and has $108.32 target or 8.00 % above today’s $100.30 share price. The 5 months bullish chart indicates low risk for the $6.43 billion company. The 1-year high was reported on Jul, 13 by Barchart.com. If the $108.32 price target is reached, the company will be worth $514.16M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock.

The stock increased 0.82% or $0.82 during the last trading session, reaching $100.3. About 180,325 shares traded. PRA Health Sciences, Inc. (NASDAQ:PRAH) has risen 12.34% since July 13, 2017 and is uptrending. It has underperformed by 0.23% the S&P500.

Analysts await PRA Health Sciences, Inc. (NASDAQ:PRAH) to report earnings on August, 6. They expect $0.88 EPS, up 41.94 % or $0.26 from last year’s $0.62 per share. PRAH’s profit will be $56.39 million for 28.49 P/E if the $0.88 EPS becomes a reality. After $0.78 actual EPS reported by PRA Health Sciences, Inc. for the previous quarter, Wall Street now forecasts 12.82 % EPS growth.

PRA Health Sciences, Inc. (NASDAQ:PRAH) Ratings Coverage

Among 6 analysts covering PRA Health Sciences (NASDAQ:PRAH), 5 have Buy rating, 0 Sell and 1 Hold. Therefore 83% are positive. PRA Health Sciences has $110.0 highest and $98.0 lowest target. $99.50’s average target is -0.80% below currents $100.3 stock price. PRA Health Sciences had 7 analyst reports since January 18, 2018 according to SRatingsIntel. The stock of PRA Health Sciences, Inc. (NASDAQ:PRAH) earned “Neutral” rating by Mizuho on Wednesday, January 24. Credit Suisse maintained the stock with “Outperform” rating in Thursday, February 22 report. The firm has “Buy” rating given on Thursday, January 18 by Robert W. Baird. On Thursday, February 22 the stock rating was maintained by Jefferies with “Buy”. The stock of PRA Health Sciences, Inc. (NASDAQ:PRAH) has “Buy” rating given on Monday, February 26 by SunTrust. KeyBanc Capital Markets maintained it with “Buy” rating and $100.0 target in Tuesday, January 30 report. SunTrust maintained the stock with “Buy” rating in Monday, January 22 report.

More recent PRA Health Sciences, Inc. (NASDAQ:PRAH) news were published by: Bizjournals.com which released: “Data deals creating strategy shift for Triangle CROs” on June 26, 2018. Also Globenewswire.com published the news titled: “PRA Health Sciences to Report Second Quarter 2018 Earnings” on July 12, 2018. Benzinga.com‘s news article titled: “Benzinga’s Daily Biotech Pulse: Amgen Resubmits Osteoporosis Drug BLA, Auris Medical Prices Offering” with publication date: July 13, 2018 was also an interesting one.

PRA Health Sciences, Inc., a contract research organization, provides outsourced clinical development services to the biotechnology and pharmaceutical industries worldwide. The company has market cap of $6.43 billion. The firm offers integrated services, such as data management, statistical analysis, clinical trial management, and regulatory and drug development consulting. It has a 75.98 P/E ratio. It also provides product registration services, including clinical trial management, project management, regulatory affairs, therapeutic expertise, clinical operations, data and programming, safety and risk management, biostatistics and medical writing, quality assurance, and late phase services.

PRA Health Sciences, Inc. (NASDAQ:PRAH) Ratings Chart

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