Zacks Investment Research downgraded shares of Proteon Therapeutics, Inc. (NASDAQ:PRTO) from a hold rating to a strong sell rating in a research report released on Saturday morning.

According to Zacks, “Proteon Therapeutics Inc. is a biopharmaceutical company. The Company is developing pharmaceuticals to address the medical needs of patients with kidney and vascular diseases. It is developing PRT-201, a recombinant human elastase, applied in a single treatment to the external surface of arteries and veins during an open surgical procedure or an endovascular intervention. Proteon Therapeutics Inc. is headquartered in Waltham, Mass. “

Several other analysts have also weighed in on the company. HC Wainwright restated a hold rating and issued a $2.30 price objective on shares of Proteon Therapeutics in a report on Wednesday. Oppenheimer Holdings, Inc. reaffirmed a market perform rating on shares of Proteon Therapeutics in a report on Wednesday, August 16th. Finally, Cowen and Company reaffirmed a hold rating on shares of Proteon Therapeutics in a report on Tuesday, August 8th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the stock. Proteon Therapeutics currently has a consensus rating of Hold and a consensus price target of $6.13.

Shares of Proteon Therapeutics (NASDAQ PRTO) traded up $0.05 during trading on Friday, hitting $1.85. The stock had a trading volume of 32,600 shares, compared to its average volume of 47,141. Proteon Therapeutics has a twelve month low of $1.10 and a twelve month high of $11.45.

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A hedge fund recently bought a new stake in Proteon Therapeutics stock. RA Capital Management LLC acquired a new position in Proteon Therapeutics, Inc. (NASDAQ:PRTO) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 1,337,462 shares of the biopharmaceutical company’s stock, valued at approximately $2,040,000. Proteon Therapeutics makes up 0.2% of RA Capital Management LLC’s portfolio, making the stock its 22nd largest position. RA Capital Management LLC owned about 7.59% of Proteon Therapeutics at the end of the most recent reporting period. 47.07% of the stock is currently owned by institutional investors and hedge funds.

About Proteon Therapeutics

Proteon Therapeutics, Inc is a late-stage biopharmaceutical company, which focuses on the development of pharmaceuticals to address the needs of patients with renal and vascular disease. The Company is involved in research and development activities. The Company’s product candidate, product candidate, vonapanitase, formerly PRT-201, is a recombinant human elastase that it is developing to manage vascular access failure in patients with chronic kidney disease undergoing or planning for hemodialysis, a lifesaving treatment that cannot be conducted without a functioning vascular access.

Analyst Recommendations for Proteon Therapeutics (NASDAQ:PRTO)

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