Is Buying Stock Like PRA Health Sciences, Inc. (PRAH) After This Bullish Wedge Up a Winning Strategy?

December 7, 2017 - By Migdalia James

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 on Tuesday, June 21 with “Neutral”. The stock of PRA Health Sciences, Inc. (NASDAQ:PRAH) earned “Mkt Perform” rating by Avondale on Monday, February 27. The firm has “Buy” rating by Robert W. Baird given on Thursday, October 26. First Analysis initiated the stock with “Equal-Weight” rating in Tuesday, June 21 report. The company was maintained on Friday, October 27 by Jefferies. As per Thursday, November 19, the company rating was initiated by SunTrust. Credit Suisse upgraded the stock to “Outperform” rating in Monday, February 6 report. Robert W. Baird maintained the stock with “Outperform” rating in Tuesday, August 8 report. The rating was maintained by SunTrust on Monday, October 30 with “Buy”. As per Monday, September 11, the company rating was maintained by Jefferies.

More notable recent PRA Health Sciences, Inc. (NASDAQ:PRAH) news were published by: Nasdaq.com which released: “Pra Health Sciences Inc (PRAH) President & CEO Colin Shannon Sold $29.9 …” on August 16, 2017, also Globenewswire.com with their article: “PRA Health Sciences to acquire Symphony Health Solutions, a leading provider …” published on August 07, 2017, Seekingalpha.com published: “PRA Health Sciences Set For A Quarterly Earnings Surprise – Again” on July 26, 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 Seekingalpha.com‘s news article titled: “PRA Health Sciences’ (PRAH) CEO Colin Shannon on Q2 2017 Results – Earnings …” with publication date: August 12, 2017.

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