ProQR Therapeutics (NASDAQ:PRQR) Stock Keeps Buy Rating at Chardan Capital

ProQR Therapeutics (NASDAQ:PRQR)‘s stock had its “buy” rating reaffirmed by analysts at Chardan Capital in a research note issued on Thursday, Benzinga reports. They presently have a $3.00 target price on the biopharmaceutical company’s stock. Chardan Capital’s price target suggests a potential upside of 80.72% from the company’s current price.

Other equities analysts have also recently issued reports about the stock. HC Wainwright cut their target price on shares of ProQR Therapeutics to $8.00 and set a “buy” rating for the company in a research note on Thursday. Wall Street Zen upgraded shares of ProQR Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Saturday, August 15th. Citigroup reissued a “market outperform” rating on shares of ProQR Therapeutics in a report on Thursday. Weiss Ratings raised shares of ProQR Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, August 14th. Finally, Bank of America initiated coverage on shares of ProQR Therapeutics in a report on Thursday, August 20th. They issued a “buy” rating and a $8.00 price target on the stock. Six investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $7.60.

ProQR Therapeutics Trading Up 0.6%

Shares of ProQR Therapeutics stock opened at $1.66 on Thursday. The firm has a fifty day simple moving average of $1.94 and a 200-day simple moving average of $1.76. ProQR Therapeutics has a 1-year low of $1.33 and a 1-year high of $3.10. The stock has a market capitalization of $174.90 million, a price-to-earnings ratio of -3.61 and a beta of 0.06.

ProQR Therapeutics (NASDAQ:PRQR) last released its earnings results on Thursday, August 13th. The biopharmaceutical company reported ($0.09) EPS for the quarter, beating the consensus estimate of ($0.13) by $0.04. The firm had revenue of $10.00 million during the quarter, compared to analysts’ expectations of $4.56 million. ProQR Therapeutics had a negative net margin of 223.51% and a negative return on equity of 73.83%. As a group, research analysts predict that ProQR Therapeutics will post -0.45 earnings per share for the current year.

Insider Activity

In other news, Director Bart Filius bought 150,000 shares of the stock in a transaction dated Friday, July 17th. The shares were acquired at an average price of $1.72 per share, with a total value of $258,000.00. Following the acquisition, the director owned 300,000 shares in the company, valued at $516,000. This trade represents a 100.00% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Daniel de Boer bought 150,000 shares of the stock in a transaction dated Thursday, July 9th. The stock was purchased at an average cost of $1.74 per share, for a total transaction of $261,000.00. Following the acquisition, the chief executive officer owned 300,000 shares in the company, valued at $522,000. The trade was a 100.00% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders bought 450,000 shares of company stock worth $757,500. 8.40% of the stock is owned by insiders.

Institutional Investors Weigh In On ProQR Therapeutics

Several large investors have recently made changes to their positions in PRQR. Axiom Investment Management LLC bought a new stake in shares of ProQR Therapeutics in the 1st quarter worth about $53,000. RFG Advisory LLC grew its holdings in shares of ProQR Therapeutics by 236.8% in the 2nd quarter. RFG Advisory LLC now owns 64,000 shares of the biopharmaceutical company’s stock worth $119,000 after purchasing an additional 45,000 shares during the last quarter. Bank of America Corp DE grew its holdings in shares of ProQR Therapeutics by 6.4% in the 1st quarter. Bank of America Corp DE now owns 185,110 shares of the biopharmaceutical company’s stock worth $300,000 after purchasing an additional 11,186 shares during the last quarter. Finally, Walleye Capital LLC grew its holdings in shares of ProQR Therapeutics by 2.7% in the 1st quarter. Walleye Capital LLC now owns 607,529 shares of the biopharmaceutical company’s stock worth $984,000 after purchasing an additional 15,744 shares during the last quarter. Institutional investors own 32.65% of the company’s stock.

ProQR Therapeutics Company Profile

ProQR Therapeutics N.V. (NASDAQ: PRQR) is a biotechnology company focused on developing RNA-based medicines for genetic and other serious diseases. The company’s research platform is designed to modify RNA and potentially correct disease-causing genetic defects without permanently changing a patient’s DNA.

ProQR has primarily pursued treatments for inherited retinal disorders and other conditions affecting the eye. Its pipeline has included investigational RNA therapies such as sepofarsen, developed for Leber congenital amaurosis type 10, and ultevursen, developed for Usher syndrome type 2A.