Citigroup Raises ProQR Therapeutics (NASDAQ:PRQR) Price Target to $2.00

ProQR Therapeutics (NASDAQ:PRQR) had its price target boosted by Citigroup from $1.80 to $2.00 in a research note issued on Thursday, Benzinga reports. The firm presently has a “buy” rating on the biopharmaceutical company’s stock. Citigroup’s target price would suggest a potential upside of 2.56% from the company’s current price.

Other research analysts have also issued reports about the company. HC Wainwright reissued a “buy” rating and set a $5.00 price target on shares of ProQR Therapeutics in a report on Thursday, March 14th. Chardan Capital lifted their price target on ProQR Therapeutics from $2.00 to $2.50 and gave the stock a “buy” rating in a research note on Thursday, March 14th. Finally, StockNews.com cut ProQR Therapeutics from a “buy” rating to a “hold” rating in a research note on Tuesday, March 19th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $3.60.

ProQR Therapeutics Stock Performance

PRQR traded up $0.05 during trading hours on Thursday, hitting $1.95. 61,231 shares of the stock were exchanged, compared to its average volume of 284,379. The stock has a 50-day simple moving average of $2.15 and a 200-day simple moving average of $1.87. ProQR Therapeutics has a 12 month low of $1.11 and a 12 month high of $3.29. The stock has a market cap of $158.65 million, a price-to-earnings ratio of -5.05 and a beta of 0.21. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.54 and a quick ratio of 3.54.

ProQR Therapeutics (NASDAQ:PRQR) last announced its quarterly earnings data on Wednesday, March 13th. The biopharmaceutical company reported ($0.08) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.08). ProQR Therapeutics had a negative return on equity of 56.71% and a negative net margin of 431.65%. The firm had revenue of $3.54 million for the quarter, compared to analysts’ expectations of $27.88 million. Analysts anticipate that ProQR Therapeutics will post -0.37 earnings per share for the current year.

Hedge Funds Weigh In On ProQR Therapeutics

Large investors have recently made changes to their positions in the company. Tower Research Capital LLC TRC lifted its stake in shares of ProQR Therapeutics by 164.8% during the first quarter. Tower Research Capital LLC TRC now owns 14,132 shares of the biopharmaceutical company’s stock valued at $30,000 after acquiring an additional 8,796 shares during the period. BNP Paribas Financial Markets increased its holdings in ProQR Therapeutics by 137.3% in the fourth quarter. BNP Paribas Financial Markets now owns 15,901 shares of the biopharmaceutical company’s stock valued at $31,000 after purchasing an additional 9,200 shares during the last quarter. Two Sigma Securities LLC bought a new stake in ProQR Therapeutics in the first quarter valued at about $41,000. Belvedere Trading LLC bought a new stake in ProQR Therapeutics in the fourth quarter valued at about $42,000. Finally, Virtu Financial LLC bought a new stake in ProQR Therapeutics in the second quarter valued at about $48,000. Institutional investors and hedge funds own 32.65% of the company’s stock.

ProQR Therapeutics Company Profile

ProQR Therapeutics N.V., a biotechnology company, focuses on the discovery and development of novel therapeutic medicines. The company's products pipeline includes AX-0810 for cholestatic diseases targeting Na-taurocholate cotransporting polypeptide (NTCP); and AX-1412 for cardiovascular diseases (CVDs) targeting Beta-1,4-galactosyltransferase 1 (B4GALT1).