ProQR Therapeutics’ (PRQR) Buy Rating Reaffirmed at Chardan Capital

ProQR Therapeutics (NASDAQ:PRQR)‘s stock had its “buy” rating reissued by analysts at Chardan Capital in a report released on Thursday, Benzinga reports. They presently have a $3.00 price target on the biopharmaceutical company’s stock. Chardan Capital’s price objective points to a potential upside of 82.37% from the stock’s current price.

Other research analysts also recently issued reports about the stock. Citigroup reissued a “market outperform” rating on shares of ProQR Therapeutics in a research report on Thursday. HC Wainwright lowered their price target on ProQR Therapeutics to $8.00 and set a “buy” rating on the stock in a report on Thursday. Weiss Ratings raised ProQR Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, August 14th. JonesTrading lowered their target price on ProQR Therapeutics from $11.00 to $10.00 and set a “buy” rating on the stock in a research note on Friday, June 26th. Finally, Bank of America assumed coverage on ProQR Therapeutics in a research note on Thursday, August 20th. They set a “buy” rating and a $8.00 price target for the company. Six research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, ProQR Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $7.60.

ProQR Therapeutics Stock Down 0.9%

Shares of ProQR Therapeutics stock opened at $1.65 on Thursday. ProQR Therapeutics has a 52-week low of $1.33 and a 52-week high of $3.10. The company has a 50 day moving average of $1.94 and a 200 day moving average of $1.76. The company has a market capitalization of $173.32 million, a P/E ratio of -3.58 and a beta of 0.06.

ProQR Therapeutics (NASDAQ:PRQR) last released its quarterly earnings data on Thursday, August 13th. The biopharmaceutical company reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.04. The business 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 anticipate that ProQR Therapeutics will post -0.45 earnings per share for the current fiscal year.

Insider Buying and Selling

In other ProQR Therapeutics news, Director Bart Filius purchased 150,000 shares of ProQR Therapeutics stock in a transaction dated Friday, July 17th. The stock was acquired at an average cost of $1.72 per share, with a total value of $258,000.00. Following the acquisition, the director directly owned 300,000 shares of the company’s stock, valued at $516,000. This represents a 100.00% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Daniel de Boer bought 150,000 shares of the firm’s stock in a transaction on Thursday, July 9th. The shares were purchased at an average price of $1.74 per share, for a total transaction of $261,000.00. Following the completion of the transaction, the chief executive officer owned 300,000 shares of the company’s stock, valued at $522,000. This represents a 100.00% increase in their position. The SEC filing for this purchase provides additional information. Over the last three months, insiders have bought 450,000 shares of company stock valued at $757,500. Company insiders own 8.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. RFG Advisory LLC grew its holdings in shares of ProQR Therapeutics by 236.8% during the second quarter. RFG Advisory LLC now owns 64,000 shares of the biopharmaceutical company’s stock worth $119,000 after buying an additional 45,000 shares in the last quarter. Bank of America Corp DE raised its holdings in 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 valued at $300,000 after acquiring an additional 11,186 shares during the last quarter. Axiom Investment Management LLC purchased a new position in shares of ProQR Therapeutics during the 1st quarter worth $53,000. Finally, Walleye Capital LLC increased its stake in ProQR Therapeutics by 2.7% in the first quarter. Walleye Capital LLC now owns 607,529 shares of the biopharmaceutical company’s stock valued at $984,000 after purchasing an additional 15,744 shares during the last quarter. 32.65% of the stock is currently owned by hedge funds and other institutional investors.

About ProQR Therapeutics

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.