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Analyst Blog

PRA Health Sciences (PRAH - Free Report) announced that one of its stockholders, Kohlberg Kravis Roberts & Co., intends to put up 7.5 million shares of common stock for sale in an underwritten secondary offering. The offering is expected to close on Nov 16, 2016.

The last reported sale price of the company’s common stock on Nov 11, 2016 was $55.17 per share. As of Sep 30, 2016, the company had total cash and cash investments worth $130.3 million compared with $121.1 million as of Dec 31, 2015. During the nine-month period ended Sep 30, 2016, the company generated $49.2 million in cash from operations.

PRA Health Sciences is also striving to effectively manage overhead functions and cut down expenses. Notably, backlog increased approximately 4% year over year in the reported quarter to approximately $2.8 billion.  

W believe PRA has therapeutic expertise in areas that are among the largest in pharmaceutical development, including oncology, central nervous system, inflammation and infectious diseases. The company provides its clients with one of the most flexible clinical development service offerings. This includes both traditional, project-based Phase I through Phase IV services as well as embedded and functional outsourcing services. The company has invested in medical informatics and clinical technologies designed to enhance efficiencies, improve study predictability and provide better transparency to clients throughout their clinical development processes.
 

PRA Health Sciences is one of the world’s leading global contract research organizations by revenue. The company provides outsourced clinical development services to the biotechnology and pharmaceutical industries. PRA’s global clinical development platform includes approximately 70 offices across North America, Europe, Asia, Latin America, South Africa, Australia and the Middle East and approximately 12,400 employees worldwide. Since 2000, PRA has performed approximately 3,400 clinical trials worldwide. In addition, PRA has participated in pivotal or supportive trials that led to the U.S. Food and Drug Administration or international regulatory approval of more than 60 drugs.

Zacks Rank & Key Picks

Currently, PRA Health Sciences has a Zacks Rank #3 (Hold).

Better-ranked stocks in the broader medical space include Anika Therapeutics Inc. (ANIK - Free Report) , Cambrex Corporation (CBM - Free Report) and IDEXX Laboratories, Inc. (IDXX - Free Report) , all of which sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Anika Therapeutics represents a strong long-term expected growth rate of 15.00%. Notably, the company has a positive one-year return of almost 8.7%.

Cambrex Corporation has a positive one-year return of 6.6%. The company also has a promising long-term expected growth rate of 15.00%.

IDEXX Laboratories represents a stellar one-year return of 63.04%. The company has a long-term expected growth rate of almost 14.96%.

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