Is PRA Health Sciences, Inc. (PRAH) a Buy? The Stock Formed Bullish Wedge Up Pattern

December 7, 2017 - By Marie Mckinney

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 EPS, 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 EPS 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 company was initiated on Thursday, November 19 by Suntrust Robinson. The stock of PRA Health Sciences, Inc. (NASDAQ:PRAH) earned “Equal-Weight” rating by First Analysis on Tuesday, June 21. As per Monday, June 13, the company rating was upgraded by KeyBanc Capital Markets. The stock of PRA Health Sciences, Inc. (NASDAQ:PRAH) earned “Buy” rating by Jefferies on Friday, October 27. Robert W. Baird maintained it with “Buy” rating and $88.0 target in Monday, October 9 report. Robert W. Baird maintained the stock with “Buy” rating in Thursday, November 30 report. KeyBanc Capital Markets maintained PRA Health Sciences, Inc. (NASDAQ:PRAH) rating on Monday, October 30. KeyBanc Capital Markets has “Buy” rating and $93.0 target. The firm has “Neutral” rating given on Tuesday, September 6 by UBS. KeyBanc Capital Markets maintained it with “Buy” rating and $86.0 target in Monday, October 16 report. The firm earned “Outperform” rating on Tuesday, August 8 by Credit Suisse.

More notable recent PRA Health Sciences, Inc. (NASDAQ:PRAH) news were published by: Seekingalpha.com which released: “PRA Health Sciences’ (PRAH) CEO Colin Shannon on Q2 2017 Results – Earnings …” on August 12, 2017, also Globenewswire.com with their article: “PRA Health Sciences to acquire Symphony Health Solutions, a leading provider …” published on August 07, 2017, Nasdaq.com published: “Pra Health Sciences Inc (PRAH) President & CEO Colin Shannon Sold $29.9 …” on August 16, 2017. More interesting news about PRA Health Sciences, Inc. (NASDAQ:PRAH) were released by: Nasdaq.com and their article: “The Zacks Analyst Blog Highlights: Aetna, CareDx, PRA Health Sciences and …” published on December 07, 2017 as well as Globenewswire.com‘s news article titled: “PRA Health Sciences, Inc. Reports Second Quarter 2017 Results and Updates Full …” with publication date: August 07, 2017.

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