PRA Health Sciences, Inc. (PRAH) Stock Formed Wedge Up Pattern. What To Expect?

December 7, 2017 - By Ellis Scott

The stock of PRA Health Sciences, Inc. (PRAH) formed an up wedge with $85.68 target or 5.00 % above today’s $81.60 share price. The 5 months wedge indicates low risk for the $5.17 billion company. If the $85.68 price target is reached, the company will be worth $258.55M more.
Rising wedges, especially for downward breakouts are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 8% and 24%. The average rise is 28% and the decline is 14%. Wedges has high throwback and pullback rate: 73%, 63% and the percent of wedges meeting target is not more than 50%.

The stock increased 0.17% or $0.14 during the last trading session, reaching $81.6. About 275,767 shares traded. PRA Health Sciences, Inc. (NASDAQ:PRAH) has risen 52.22% since December 8, 2016 and is uptrending. It has outperformed by 35.52% the S&P500.

Analysts await PRA Health Sciences, Inc. (NASDAQ:PRAH) to report earnings on February, 28. They expect $1.00 earnings per share, up 47.06 % or $0.32 from last year’s $0.68 per share. PRAH’s profit will be $63.37M for 20.40 P/E if the $1.00 EPS becomes a reality. After $0.82 actual earnings per share reported by PRA Health Sciences, Inc. for the previous quarter, Wall Street now forecasts 21.95 % EPS growth.

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

Among 12 analysts covering PRA Health Sciences (NASDAQ:PRAH), 8 have Buy rating, 0 Sell and 4 Hold. Therefore 67% are positive. PRA Health Sciences had 32 analyst reports since July 22, 2015 according to SRatingsIntel. The rating was initiated by Credit Suisse with “Neutral” on Tuesday, June 21. The stock has “Buy” rating by Credit Suisse on Monday, October 16. As per Thursday, November 30, the company rating was maintained by Robert W. Baird. Jefferies maintained the stock with “Buy” rating in Thursday, June 1 report. Mizuho maintained the shares of PRAH in report on Friday, December 1 with “Buy” rating. The firm has “Outperform” rating given on Tuesday, August 8 by Credit Suisse. Citigroup upgraded the stock to “Buy” rating in Wednesday, May 4 report. The stock of PRA Health Sciences, Inc. (NASDAQ:PRAH) earned “Buy” rating by SunTrust on Monday, March 28. The firm has “Overweight” rating by KeyBanc Capital Markets given on Monday, June 13. SunTrust maintained PRA Health Sciences, Inc. (NASDAQ:PRAH) rating on Monday, October 30. SunTrust has “Buy” rating and $101.0 target.

More notable recent PRA Health Sciences, Inc. (NASDAQ:PRAH) news were published by: Seekingalpha.com which released: “PRA Health Sciences Set For A Quarterly Earnings Surprise – Again” on July 26, 2017, also Nasdaq.com with their article: “Pra Health Sciences Inc (PRAH) President & CEO Colin Shannon Sold $29.9 …” published on August 16, 2017, Nasdaq.com published: “The Zacks Analyst Blog Highlights: Aetna, CareDx, PRA Health Sciences and …” on December 07, 2017. More interesting news about PRA Health Sciences, Inc. (NASDAQ:PRAH) were released by: Globenewswire.com and their article: “PRA Health Sciences, Inc. Reports Second Quarter 2017 Results and Updates Full …” published on August 07, 2017 as well as Globenewswire.com‘s news article titled: “PRA Health Sciences to acquire Symphony Health Solutions, a leading provider …” with publication date: August 07, 2017.

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