ProQR Therapeutics (NASDAQ:PRQR) Research Coverage Started at Bank of America

Bank of America initiated coverage on shares of ProQR Therapeutics (NASDAQ:PRQR) in a research report report published on Thursday morning, MarketBeat reports. The firm issued a buy rating and a $8.00 price objective on the biopharmaceutical company’s stock.

PRQR has been the subject of a number of other research reports. HC Wainwright reissued a “buy” rating on shares of ProQR Therapeutics in a report on Monday, August 17th. Weiss Ratings upgraded ProQR Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, August 14th. Citigroup reaffirmed a “market outperform” rating on shares of ProQR Therapeutics in a research report on Wednesday, May 27th. JonesTrading reduced their target price on ProQR Therapeutics from $11.00 to $10.00 and set a “buy” rating for the company in a research note on Friday, June 26th. Finally, Wall Street Zen raised shares of ProQR Therapeutics from a “strong sell” rating to a “hold” rating in a report on Saturday, August 15th. Six research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, ProQR Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $7.50.

ProQR Therapeutics Trading Up 3.1%

PRQR opened at $2.34 on Thursday. ProQR Therapeutics has a twelve month low of $1.33 and a twelve month high of $3.10. The firm has a market cap of $246.54 million, a price-to-earnings ratio of -5.09 and a beta of 0.07. The company has a fifty day simple moving average of $1.81 and a 200 day simple moving average of $1.68.

ProQR Therapeutics (NASDAQ:PRQR) last issued its quarterly earnings data on Thursday, August 13th. The biopharmaceutical company reported ($0.09) EPS for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.04. The firm had revenue of $10.00 million for the quarter, compared to analyst estimates of $4.56 million. ProQR Therapeutics had a negative net margin of 223.51% and a negative return on equity of 73.83%. On average, analysts forecast that ProQR Therapeutics will post -0.45 earnings per share for the current fiscal year.

Insider Activity

In other ProQR Therapeutics news, CEO Boer Daniel Anton De purchased 150,000 shares of the stock in a transaction dated Thursday, July 9th. The shares were bought at an average cost of $1.74 per share, with a total value of $261,000.00. Following the completion of the acquisition, the chief executive officer owned 300,000 shares of the company’s stock, valued at approximately $522,000. This trade represents a 100.00% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Bart Filius bought 150,000 shares of the stock in a transaction on Friday, July 17th. The shares were bought at an average cost of $1.72 per share, for a total transaction of $258,000.00. Following the purchase, the director owned 300,000 shares in the company, valued at $516,000. This trade represents a 100.00% increase in their position. The SEC filing for this purchase provides additional information. In the last 90 days, insiders acquired 600,000 shares of company stock valued at $988,500. 8.40% of the stock is owned by insiders.

Institutional Investors Weigh In On ProQR Therapeutics

A number of institutional investors have recently added to or reduced their stakes in PRQR. Privium Fund Management B.V. boosted its stake in ProQR Therapeutics by 7.2% during the 4th quarter. Privium Fund Management B.V. now owns 5,357,762 shares of the biopharmaceutical company’s stock valued at $10,823,000 after purchasing an additional 359,475 shares in the last quarter. Ikarian Capital LLC raised its stake in shares of ProQR Therapeutics by 67.2% in the 4th quarter. Ikarian Capital LLC now owns 1,492,229 shares of the biopharmaceutical company’s stock worth $3,014,000 after buying an additional 600,000 shares in the last quarter. Citadel Advisors LLC lifted its holdings in shares of ProQR Therapeutics by 73.2% in the third quarter. Citadel Advisors LLC now owns 657,012 shares of the biopharmaceutical company’s stock valued at $1,399,000 after buying an additional 277,749 shares during the period. Walleye Capital LLC lifted its holdings in shares of ProQR Therapeutics by 2.7% in the first quarter. Walleye Capital LLC now owns 607,529 shares of the biopharmaceutical company’s stock valued at $984,000 after buying an additional 15,744 shares during the period. Finally, Millennium Management LLC boosted its stake in ProQR Therapeutics by 80.8% during the fourth quarter. Millennium Management LLC now owns 434,991 shares of the biopharmaceutical company’s stock valued at $879,000 after buying an additional 194,369 shares in the last quarter. 32.65% of the stock is currently owned by institutional investors and hedge funds.

About ProQR Therapeutics

ProQR Therapeutics N.V. is a clinical-stage biotechnology company dedicated to developing RNA-based therapies for severe genetic diseases. Utilizing its proprietary Axiomer® RNA editing platform, ProQR aims to correct disease-causing mutations directly at the messenger RNA level. The company’s pipeline features several investigational candidates, including sepofarsen (formerly QR-110) for Leber congenital amaurosis type 10, QR-421a targeting Usher syndrome and certain forms of retinitis pigmentosa, and QR-313 for dystrophic epidermolysis bullosa.

Founded in 2012 and headquartered in Leiden, the Netherlands, ProQR maintains a significant presence in Cambridge, Massachusetts, to support its clinical research and regulatory initiatives.