Promis Neurosciences (NASDAQ:PMN) Price Target Raised to $100.00

Promis Neurosciences (NASDAQ:PMN) had its price target hoisted by research analysts at Guggenheim from $69.00 to $100.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock.

A number of other equities research analysts have also recently commented on PMN. Cantor Fitzgerald began coverage on shares of Promis Neurosciences in a research report on Tuesday, June 30th. They set an “overweight” rating for the company. HC Wainwright reaffirmed a “buy” rating on shares of Promis Neurosciences in a research report on Wednesday, July 15th. Roth Capital began coverage on Promis Neurosciences in a research report on Tuesday, July 7th. They issued a “buy” rating and a $19.00 price objective for the company. Zacks Research upgraded shares of Promis Neurosciences to a “hold” rating in a research note on Tuesday, June 9th. Finally, Chardan Capital set a $20.00 price objective on Promis Neurosciences and gave the company a “buy” rating in a report on Monday, July 27th. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $39.25.

Promis Neurosciences Stock Up 0.9%

PMN stock opened at $14.93 on Friday. Promis Neurosciences has a twelve month low of $6.27 and a twelve month high of $27.40. The firm has a market cap of $133.92 million, a price-to-earnings ratio of -1.01 and a beta of -0.23. The business’s fifty day simple moving average is $12.64 and its two-hundred day simple moving average is $13.60.

Promis Neurosciences (NASDAQ:PMN) last announced its quarterly earnings results on Thursday, August 13th. The company reported ($1.28) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.38) by $0.10. Research analysts expect that Promis Neurosciences will post -5.08 EPS for the current year.

Institutional Trading of Promis Neurosciences

Several large investors have recently bought and sold shares of PMN. Seven Fleet Capital Management LP purchased a new position in Promis Neurosciences in the 1st quarter worth approximately $135,000. ADAR1 Capital Management LLC purchased a new position in shares of Promis Neurosciences during the 1st quarter worth $1,211,000. Citadel Advisors LLC boosted its position in shares of Promis Neurosciences by 168.1% during the 3rd quarter. Citadel Advisors LLC now owns 170,079 shares of the company’s stock valued at $72,000 after acquiring an additional 106,650 shares during the last quarter. Ally Bridge Group NY LLC raised its stake in Promis Neurosciences by 66.1% during the first quarter. Ally Bridge Group NY LLC now owns 414,219 shares of the company’s stock worth $5,261,000 after purchasing an additional 164,880 shares during the period. Finally, Yu Fan acquired a new position in Promis Neurosciences in the 1st quarter valued at about $4,188,000. Hedge funds and other institutional investors own 50.13% of the company’s stock.

About Promis Neurosciences

Promis Neurosciences, Inc is a clinical‐stage biopharmaceutical company focused on the discovery and development of novel therapeutics for central nervous system disorders. The company’s research programs target cognitive impairment and other neurological symptoms associated with diseases such as Alzheimer’s disease and multiple sclerosis.

Leveraging a proprietary small‐molecule discovery platform, Promis Neurosciences advances both preclinical and early clinical candidates designed to modulate neural pathways involved in memory, learning and neuroinflammation.