Notable Runner: Is Buying 52-Week Stock Like PRA Health Sciences Inc a Winning Strategy?

Notable Runner: Is Buying 52 Week Stock Like PRA Health Sciences Inc a Winning Strategy?

The stock of PRA Health Sciences Inc (NASDAQ:PRAH) hit a new 52-week high and has $91.78 target or 57.00% above today’s $58.46 share price. The 6 months bullish chart indicates low risk for the $3.63B company. The 1-year high was reported on Nov, 9 by Barchart.com. If the $91.78 price target is reached, the company will be worth $2.07 billion 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. About 435,210 shares traded hands or 20.77% up from the average. PRA Health Sciences Inc (NASDAQ:PRAH) has risen 17.95% since April 7, 2016 and is uptrending. It has outperformed by 13.17% the S&P500.

PRA Health Sciences Inc (NASDAQ:PRAH) Ratings Coverage

Out of 9 analysts covering PRA Health Sciences (NASDAQ:PRAH), 5 rate it a “Buy”, 0 “Sell”, while 4 “Hold”. This means 56% are positive. PRA Health Sciences has been the topic of 13 analyst reports since July 22, 2015 according to StockzIntelligence Inc. As per Wednesday, May 4, the company rating was upgraded by Citigroup. As per Friday, August 14, the company rating was reinitiated by Credit Suisse. The rating was downgraded by UBS on Tuesday, September 6 to “Neutral”. As per Tuesday, June 21, the company rating was initiated by Credit Suisse. Suntrust Robinson initiated the stock with “Neutral” rating in Thursday, November 19 report. SunTrust upgraded the shares of PRAH in a report on Monday, March 28 to “Buy” rating. The firm has “Overweight” rating by KeyBanc Capital Markets given on Monday, June 13. The firm has “Equal-Weight” rating given on Tuesday, June 21 by First Analysis. The stock has “Buy” rating given by Citigroup on Thursday, September 22. The rating was initiated by SunTrust on Thursday, November 19 with “Neutral”.

According to Zacks Investment Research, “PRA Health Sciences, Inc. operates as a global contract research organizations providing outsourced clinical development services to the biotechnology and pharmaceutical industries. It offers therapeutic services in the areas of cardio-metabolic, biosimilars, infectious diseases, immunology, neurology and psychiatry, oncology and hematology, rare diseases, and respiratory needs. The Company engages in bioanalytical laboratory, clinical pharmacology, clinical development, strategic solutions, post marketing research, clinical informatics, clinical diagnostics, and safety and risk management activities. PRA Health Sciences, Inc. is based in Raleigh, North Carolina.”

More notable recent PRA Health Sciences Inc (NASDAQ:PRAH) news were published by: Businesswire.com which released: “Takeda and PRA Health Sciences Announce Transformational Clinical Development …” on September 12, 2016, also Seekingalpha.com with their article: “PRA Health Sciences’ (PRAH) CEO Colin Shannon on Q3 2016 Results – Earnings …” published on November 06, 2016, Medgadget.com published: “Pharmacovigilance Market to Grow at a CAGR of 14.2% by 2020” on June 15, 2016. More interesting news about PRA Health Sciences Inc (NASDAQ:PRAH) were released by: Moodys.com and their article: “Moody’s upgrades PRA Health’s CFR to B1” published on March 17, 2016 as well as Globenewswire.com‘s news article titled: “PRA Health Sciences, Inc. Reports Third Quarter 2016 Results and Updates 2016 …” with publication date: November 02, 2016.

PRAH Company Profile

PRA Health Sciences, Inc., incorporated on June 21 2013, is a contract research organization (CRO). The Firm provides outsourced clinical development services to the biotechnology and pharmaceutical industries. The Firm offers therapeutic services in areas of pharmaceutical development, including oncology, central nervous system, inflammation and infectious diseases. The Company’s integrated services include data management, statistical analysis, clinical trial management, and regulatory and drug development consulting. The Firm provides its clients with clinical development service offerings, which includes both traditional, project Phase I through Phase IV services, as well as embedded and functional outsourcing services. The Company’s clinical development platform includes over 70 offices across North America, Europe, Asia, Latin America, South Africa, Australia and the Middle East.

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