Provention Bio Inc. (PRVB) PT Raised to $20 at H.C. Wainwright

H.C. Wainwright analyst Raghuram Selvaraju raised the price target on Provention Bio Inc. (NASDAQ: PRVB) to $20.00 (from $8.00) while maintaining a Buy rating. Earlier this month, Provention Bio reported that a Phase 2 clinical trial the Teplizumab for Prevention of Type 1 Diabetes In Relatives “At-Risk” trial had yielded highly favorable results.

Selvaraju believes that the data from the company's at-risk trial is clearly meaningful enough to warrant a potential acceleration of teplizumab's progression to market entry. H.C. Wainwright revised assumptions involve the scenario that teplizumab could be filed with the FDA later this year or early next year; this could lead to market entry in 2021.

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