Zacks Investment Research upgraded shares of Proteon Therapeutics Inc. (NASDAQ:PRTO) from a sell rating to a hold rating in a research report report published on Wednesday 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. “

Separately, HC Wainwright assumed coverage on Proteon Therapeutics in a research note on Thursday, September 22nd. They set a buy rating and a $18.00 price target for the company. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. The stock has a consensus rating of Buy and an average target price of $20.80.

Proteon Therapeutics (NASDAQ:PRTO) opened at 8.99 on Wednesday. The company’s market cap is $149.07 million. Proteon Therapeutics has a 12 month low of $4.90 and a 12 month high of $17.76. The firm’s 50-day moving average is $9.03 and its 200-day moving average is $8.16.

Proteon Therapeutics (NASDAQ:PRTO) last issued 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, analysts anticipate that Proteon Therapeutics will post ($1.85) EPS for the current fiscal year.

Several hedge funds have recently modified their holdings of PRTO. Paloma Partners Management Co bought a new stake in Proteon Therapeutics during the second quarter valued at $234,000. Deerfield Management Co. raised 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 valued at $12,463,000 after buying an additional 286,688 shares during the last quarter. Bridgeway Capital Management Inc. raised 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 valued at $296,000 after buying an additional 25,000 shares during the last quarter. TFS Capital LLC bought a new stake in Proteon Therapeutics during the second quarter valued at $206,000. Finally, Geode Capital Management LLC raised 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 valued at $351,000 after buying an additional 2,685 shares during the last quarter. 51.54% of the stock is currently owned by institutional investors and hedge funds.

Proteon Therapeutics Company Profile

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.

5 Day Chart for NASDAQ:PRTO

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