ProQR Therapeutics (NASDAQ:PRQR) Stock Rating Reaffirmed as Buy by Chardan Capital

ProQR Therapeutics (NASDAQ:PRQR)‘s stock had its “buy” rating restated by research analysts at Chardan Capital in a research note issued on Thursday, Benzinga reports. They currently have a $3.00 target price on the biopharmaceutical company’s stock. Chardan Capital’s price target indicates a potential upside of 85.76% from the stock’s current price.

Several other research analysts have also issued reports on the stock. Weiss Ratings raised shares of ProQR Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, August 14th. Citigroup restated a “market outperform” rating on shares of ProQR Therapeutics in a report on Thursday. Wall Street Zen raised shares of ProQR Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Saturday, August 15th. HC Wainwright dropped their target price on shares of ProQR Therapeutics to $8.00 and set a “buy” rating for the company in a research report on Thursday. Finally, JonesTrading cut their price target on ProQR Therapeutics from $11.00 to $10.00 and set a “buy” rating on the stock in a research note on Friday, June 26th. Six investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $7.60.

ProQR Therapeutics Stock Performance

Shares of PRQR stock traded down $0.05 during trading hours on Thursday, hitting $1.62. The company had a trading volume of 960,440 shares, compared to its average volume of 731,326. ProQR Therapeutics has a 12 month low of $1.33 and a 12 month high of $3.10. The firm’s fifty day moving average is $1.94 and its 200 day moving average is $1.76. The firm has a market capitalization of $170.16 million, a price-to-earnings ratio of -3.51 and a beta of 0.06.

ProQR Therapeutics (NASDAQ:PRQR) last announced its earnings results on Thursday, August 13th. The biopharmaceutical company reported ($0.09) EPS for the quarter, topping the consensus estimate of ($0.13) by $0.04. The business had revenue of $10.00 million for the quarter, compared to the consensus estimate of $4.56 million. ProQR Therapeutics had a negative return on equity of 73.83% and a negative net margin of 223.51%. On average, sell-side analysts expect that ProQR Therapeutics will post -0.45 EPS for the current fiscal year.

Insider Transactions at ProQR Therapeutics

In other news, CEO Daniel de Boer bought 150,000 shares of the stock in a transaction on Thursday, July 9th. The stock was purchased at an average price of $1.74 per share, for a total transaction of $261,000.00. Following the acquisition, the chief executive officer owned 300,000 shares in the company, valued at approximately $522,000. This trade represents a 100.00% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Bart Filius purchased 150,000 shares of the business’s stock in a transaction dated Friday, July 17th. The stock was purchased at an average price of $1.72 per share, for a total transaction of $258,000.00. Following the completion of the acquisition, the director owned 300,000 shares of the company’s stock, valued at approximately $516,000. This represents a 100.00% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders have acquired 450,000 shares of company stock valued at $757,500. Corporate insiders own 8.40% of the company’s stock.

Institutional Trading of ProQR Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Axiom Investment Management LLC acquired a new position in ProQR Therapeutics during the first quarter worth $53,000. RFG Advisory LLC boosted its stake in shares of ProQR Therapeutics by 236.8% during the 2nd quarter. RFG Advisory LLC now owns 64,000 shares of the biopharmaceutical company’s stock worth $119,000 after buying an additional 45,000 shares during the last quarter. Bank of America Corp DE grew its holdings in shares of ProQR Therapeutics by 6.4% in the 1st quarter. Bank of America Corp DE now owns 185,110 shares of the biopharmaceutical company’s stock valued at $300,000 after acquiring an additional 11,186 shares in the last quarter. Finally, Walleye Capital LLC raised its holdings in ProQR Therapeutics by 2.7% during the first quarter. Walleye Capital LLC now owns 607,529 shares of the biopharmaceutical company’s stock worth $984,000 after acquiring an additional 15,744 shares in the last quarter. 32.65% of the stock is currently owned by institutional investors and hedge funds.

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.