ProQR Therapeutics’ (PRQR) “Buy” Rating Reiterated at Chardan Capital

ProQR Therapeutics (NASDAQ:PRQR)‘s stock had its “buy” rating reissued by equities research analysts at Chardan Capital in a research note issued to investors on Thursday, Benzinga reports. They presently have a $3.00 price objective on the biopharmaceutical company’s stock. Chardan Capital’s price objective indicates a potential upside of 86.92% from the company’s current price.

Several other research firms have also commented on PRQR. Bank of America initiated coverage on shares of ProQR Therapeutics in a research report on Thursday, August 20th. They issued a “buy” rating and a $8.00 price target on the stock. Wall Street Zen upgraded shares of ProQR Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Saturday, August 15th. JonesTrading lowered their price target on shares of ProQR Therapeutics from $11.00 to $10.00 and set a “buy” rating on the stock in a research report on Friday, June 26th. HC Wainwright lowered their price target on shares of ProQR Therapeutics to $8.00 and set a “buy” rating on the stock in a research report on Thursday. Finally, Citigroup reiterated a “market outperform” rating on shares of ProQR Therapeutics in a research report on Thursday. Six equities 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 company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $7.60.

ProQR Therapeutics Stock Performance

PRQR traded down $0.06 on Thursday, hitting $1.61. 656,910 shares of the company were exchanged, compared to its average volume of 729,657. The business’s fifty day moving average is $1.94 and its 200 day moving average is $1.76. ProQR Therapeutics has a fifty-two week low of $1.33 and a fifty-two week high of $3.10. The firm has a market capitalization of $169.10 million, a P/E ratio of -3.49 and a beta of 0.06.

ProQR Therapeutics (NASDAQ:PRQR) last released its quarterly earnings results on Thursday, August 13th. The biopharmaceutical company reported ($0.09) EPS for the quarter, beating the consensus estimate of ($0.13) by $0.04. The business 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%. Analysts forecast that ProQR Therapeutics will post -0.45 EPS for the current fiscal year.

Insider Activity at ProQR Therapeutics

In other news, Director Bart Filius acquired 150,000 shares of ProQR Therapeutics stock in a transaction that occurred on Friday, July 17th. The shares were acquired at an average price of $1.72 per share, with a total value of $258,000.00. Following the completion of the purchase, the director owned 300,000 shares of the company’s stock, valued at approximately $516,000. This represents a 100.00% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Daniel de Boer acquired 150,000 shares of ProQR Therapeutics stock in a transaction that occurred on Thursday, July 9th. The shares were purchased at an average cost of $1.74 per share, for a total transaction of $261,000.00. Following the purchase, the chief executive officer directly owned 300,000 shares of the company’s stock, valued at approximately $522,000. This trade represents a 100.00% increase in their position. The SEC filing for this purchase provides additional information. Insiders have purchased 450,000 shares of company stock worth $757,500 in the last three months. Insiders own 8.40% of the company’s stock.

Hedge Funds Weigh In On ProQR Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of the company. Walleye Capital LLC lifted its stake in shares of ProQR Therapeutics by 2.7% during 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. Bank of America Corp DE raised its stake in ProQR Therapeutics by 6.4% during the first quarter. Bank of America Corp DE now owns 185,110 shares of the biopharmaceutical company’s stock worth $300,000 after purchasing an additional 11,186 shares during the period. RFG Advisory LLC raised its stake in ProQR Therapeutics by 236.8% during the second quarter. RFG Advisory LLC now owns 64,000 shares of the biopharmaceutical company’s stock worth $119,000 after purchasing an additional 45,000 shares during the period. Finally, Axiom Investment Management LLC purchased a new position in ProQR Therapeutics during the first quarter worth approximately $53,000. Hedge funds and other institutional investors own 32.65% of the company’s stock.

ProQR Therapeutics Company Profile

ProQR Therapeutics N.V. (NASDAQ: PRQR) is a biotechnology company focused on developing RNA-based medicines for genetic and other serious diseases. The company’s research platform is designed to modify RNA and potentially correct disease-causing genetic defects without permanently changing a patient’s DNA.

ProQR has primarily pursued treatments for inherited retinal disorders and other conditions affecting the eye. Its pipeline has included investigational RNA therapies such as sepofarsen, developed for Leber congenital amaurosis type 10, and ultevursen, developed for Usher syndrome type 2A.