Promis Neurosciences (NASDAQ:PMN) Receives $72.67 Consensus PT from Analysts

Shares of Promis Neurosciences (NASDAQ:PMN) have earned a consensus recommendation of “Moderate Buy” from the four research firms that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating and three have assigned a buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $72.6667.

Several research analysts have recently issued reports on PMN shares. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Promis Neurosciences in a research report on Thursday. HC Wainwright reiterated a “buy” rating and issued a $18.00 price target (up from $4.00) on shares of Promis Neurosciences in a research note on Monday, December 1st. Guggenheim cut their price objective on shares of Promis Neurosciences from $150.00 to $125.00 and set a “buy” rating on the stock in a report on Tuesday, November 18th. Finally, Wall Street Zen cut shares of Promis Neurosciences to a “strong sell” rating in a report on Saturday, November 29th.

Promis Neurosciences Trading Up 1.9%

Shares of NASDAQ:PMN opened at $9.43 on Monday. Promis Neurosciences has a 52 week low of $6.27 and a 52 week high of $39.75. The company’s 50 day moving average is $8.20 and its two-hundred day moving average is $11.33. The company has a market cap of $20.27 million, a PE ratio of -0.50 and a beta of -0.10.

Promis Neurosciences (NASDAQ:PMN) last issued its earnings results on Wednesday, November 12th. The company reported ($6.00) EPS for the quarter, missing analysts’ consensus estimates of ($3.75) by ($2.25). As a group, equities research analysts expect that Promis Neurosciences will post -0.24 EPS for the current year.

Institutional Trading of Promis Neurosciences

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Citadel Advisors LLC boosted its position in shares of Promis Neurosciences by 168.1% in the 3rd quarter. Citadel Advisors LLC now owns 170,079 shares of the company’s stock valued at $72,000 after purchasing an additional 106,650 shares during the period. Armistice Capital LLC lifted its stake in Promis Neurosciences by 39.1% in the third quarter. Armistice Capital LLC now owns 2,974,518 shares of the company’s stock valued at $1,264,000 after buying an additional 836,622 shares during the last quarter. Finally, Ally Bridge Group NY LLC boosted its holdings in shares of Promis Neurosciences by 367.1% in the third quarter. Ally Bridge Group NY LLC now owns 6,233,497 shares of the company’s stock valued at $2,649,000 after acquiring an additional 4,899,069 shares during the period. Institutional investors and hedge funds own 50.13% of the company’s stock.

About Promis Neurosciences

Promis Neurosciences, Inc is a clinical‐stage biopharmaceutical company focused on the discovery and development of novel therapeutics for central nervous system disorders. The company’s research programs target cognitive impairment and other neurological symptoms associated with diseases such as Alzheimer’s disease and multiple sclerosis.

Leveraging a proprietary small‐molecule discovery platform, Promis Neurosciences advances both preclinical and early clinical candidates designed to modulate neural pathways involved in memory, learning and neuroinflammation.