Revenue Update on PRA Health Sciences Inc(NASDAQ:PRAH)

PRA Health Sciences Inc(NASDAQ:PRAH) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during After-hours on Jul 28, 2016. Company reported revenue of $394.25M. Analysts estimated a revenue of $381.25M. Earnings per share were $0.63. Analysts had estimated an EPS of $0.59.

In a different note, Credit Suisse said it Initiates Coverage on PRA Health Sciences Inc, according to a research note issued on Jun 21, 2016. The shares have been rated ‘Neutral’ by the firm. First Analysis said it Initiates Coverage on PRA Health Sciences Inc, according to a research note issued on Jun 21, 2016. The shares have been rated ‘Equal-weight’ by the firm. On Jun 13, 2016, KeyBanc said it Upgrades its rating on PRA Health Sciences Inc. The shares have been rated ‘Overweight’ by the firm. On May 4, 2016, Citigroup said it Upgrades its rating on PRA Health Sciences Inc. In the research note, the firm Raises the price-target to $51.00 per share. The shares have been rated ‘Buy’ by the firm.

PRA Health Sciences Inc (PRAH) made into the market gainers list on Thursdays trading session with the shares advancing 1.82% or 0.88 points. Due to strong positive momentum, the stock ended at $49.13, which is also near the day’s high of $49.83. The stock began the session at $48.14 and the volume stood at 5,54,655 shares. The 52-week high of the shares is $51.35 and the 52 week low is $33. The company has a current market capitalization of $2,994 M and it has 6,09,34,373 shares in outstanding.

Several Insider Transactions has been reported to the SEC. On May 10, 2016, Linda Baddour (Executive VP & CFO) sold 92,308 shares at $46.70 per share price.Also, On Mar 10, 2016, Colin Shannon (President & CEO) sold 77,019 shares at $42.26 per share price.

PRA Health Sciences Inc. is a contract research organization (CRO). The Company provides outsourced clinical development services to the biotechnology and pharmaceutical industries. It offers therapeutic services in areas of pharmaceutical development including oncology central nervous system inflammation and infectious diseases. The Company performs an array of services across the spectrum of clinical development programs from the filing of investigational new drug (INDs) and similar regulatory applications to conducting all phases of clinical trials. Its service offerings include Product Registration Services which includes Phase IIb through III product registration trials and Phase IV trials inclusive of post-marketing commitments and registries; Strategic Solutions which provides Embedded Solutions and functional outsourcing services and Early Development Services which includes Phase I through Phase IIa clinical trials and bioanalytical laboratory services.

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