Analysts Set Proteon Therapeutics Inc. (NASDAQ:PRTO) Target Price at $20.80
Shares of Proteon Therapeutics Inc. (NASDAQ:PRTO) have received a consensus rating of “Buy” from the six ratings firms that are currently covering the stock. One research analyst has rated the stock with a sell recommendation and five have given a buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $20.80.
A number of analysts recently commented on PRTO shares. Zacks Investment Research upgraded Proteon Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday, July 20th. HC Wainwright started coverage on Proteon Therapeutics in a report on Thursday, September 22nd. They set a “buy” rating and a $18.00 price target on the stock.
A number of hedge funds have recently added to or reduced their stakes in PRTO. Deerfield Management Co. increased its stake in Proteon Therapeutics by 22.7% in the second quarter. Deerfield Management Co. now owns 1,552,031 shares of the biopharmaceutical company’s stock worth $12,463,000 after buying an additional 286,688 shares in the last quarter. State Street Corp increased its stake in Proteon Therapeutics by 58.8% in the first quarter. State Street Corp now owns 94,432 shares of the biopharmaceutical company’s stock worth $729,000 after buying an additional 34,952 shares in the last quarter. Geode Capital Management LLC increased its stake in Proteon Therapeutics by 6.3% in the first quarter. Geode Capital Management LLC now owns 45,412 shares of the biopharmaceutical company’s stock worth $351,000 after buying an additional 2,685 shares in the last quarter. Bridgeway Capital Management Inc. increased its stake in Proteon Therapeutics by 211.2% in the second quarter. Bridgeway Capital Management Inc. now owns 36,835 shares of the biopharmaceutical company’s stock worth $296,000 after buying an additional 25,000 shares in the last quarter. Finally, Paloma Partners Management Co purchased a new stake in Proteon Therapeutics during the second quarter worth about $234,000. 51.54% of the stock is owned by institutional investors and hedge funds.
Shares of Proteon Therapeutics (NASDAQ:PRTO) opened at 9.0301 on Friday. Proteon Therapeutics has a 52-week low of $4.90 and a 52-week high of $17.76. The stock’s 50 day moving average price is $9.22 and its 200-day moving average price is $8.01. The company’s market capitalization is $149.74 million.
Proteon Therapeutics (NASDAQ:PRTO) last posted its earnings results on Monday, August 8th. The biopharmaceutical company reported ($0.48) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.43) by $0.05. On average, equities analysts expect that Proteon Therapeutics will post ($1.85) earnings per share for the current year.
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.
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