JonesTrading Issues Pessimistic Forecast for ProQR Therapeutics (NASDAQ:PRQR) Stock Price

by · The Markets Daily

ProQR Therapeutics (NASDAQ:PRQR – Get Free Report) had its target price cut by investment analysts at JonesTrading from $11.00 to $10.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a “buy” rating on the biopharmaceutical company’s stock.

A number of other brokerages have also recently weighed in on PRQR. Citigroup reiterated a “market outperform” rating on shares of ProQR Therapeutics in a research report on Wednesday, May 27th. Chardan Capital lowered their price objective on ProQR Therapeutics from $4.00 to $3.00 and set a “buy” rating for the company in a research report on Friday. Wall Street Zen cut shares of ProQR Therapeutics from a “hold” rating to a “strong sell” rating in a research report on Saturday, May 16th. Weiss Ratings lowered ProQR Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday. Finally, Oppenheimer began coverage on ProQR Therapeutics in a research report on Thursday, March 12th. They set an “outperform” rating and a $9.00 price target on the stock. Seven equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $7.60.

Read Our Latest Stock Analysis on ProQR Therapeutics

ProQR Therapeutics Stock Performance

Shares of PRQR stock traded down $0.02 during mid-day trading on Friday, hitting $1.54. 760,837 shares of the stock were exchanged, compared to its average volume of 623,590. ProQR Therapeutics has a 12-month low of $1.33 and a 12-month high of $3.10. The stock’s fifty day simple moving average is $1.61 and its two-hundred day simple moving average is $1.71. The stock has a market capitalization of $162.78 million, a price-to-earnings ratio of -3.11 and a beta of 0.07.

ProQR Therapeutics (NASDAQ:PRQR – Get Free Report) last issued its quarterly earnings results on Tuesday, May 12th. The biopharmaceutical company reported ($0.15) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.15). ProQR Therapeutics had a negative return on equity of 84.87% and a negative net margin of 331.33%.The firm had revenue of $2.35 million for the quarter, compared to analyst estimates of $5.19 million. On average, research analysts expect that ProQR Therapeutics will post -0.57 earnings per share for the current fiscal year.

Institutional Trading of ProQR Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of PRQR. Osaic Holdings Inc. raised its holdings in shares of ProQR Therapeutics by 59.6% in the 2nd quarter. Osaic Holdings Inc. now owns 12,050 shares of the biopharmaceutical company’s stock worth $25,000 after purchasing an additional 4,500 shares during the period. Guggenheim Capital LLC purchased a new stake in shares of ProQR Therapeutics in the fourth quarter worth about $35,000. Moody Lynn & Lieberson LLC purchased a new stake in ProQR Therapeutics in the 4th quarter worth approximately $50,000. Invesco Ltd. bought a new stake in shares of ProQR Therapeutics during the 4th quarter valued at about $51,000. Finally, Axiom Investment Management LLC purchased a new position in shares of ProQR Therapeutics during the 1st quarter valued at about $53,000. 32.65% of the stock is owned by hedge funds and other institutional investors.

About ProQR Therapeutics

(Get Free Report)

ProQR Therapeutics N.V. is a clinical-stage biotechnology company dedicated to developing RNA-based therapies for severe genetic diseases. Utilizing its proprietary Axiomer® RNA editing platform, ProQR aims to correct disease-causing mutations directly at the messenger RNA level. The company’s pipeline features several investigational candidates, including sepofarsen (formerly QR-110) for Leber congenital amaurosis type 10, QR-421a targeting Usher syndrome and certain forms of retinitis pigmentosa, and QR-313 for dystrophic epidermolysis bullosa.

Founded in 2012 and headquartered in Leiden, the Netherlands, ProQR maintains a significant presence in Cambridge, Massachusetts, to support its clinical research and regulatory initiatives.

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