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

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

Other research analysts also recently issued research reports about the company. Weiss Ratings upgraded ProQR Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, August 14th. Citigroup reissued a “market outperform” rating on shares of ProQR Therapeutics in a report on Thursday. HC Wainwright cut their target price on shares of ProQR Therapeutics to $8.00 and set a “buy” rating on the stock in a report on Thursday. JonesTrading reduced their price target on shares of ProQR Therapeutics from $11.00 to $10.00 and set a “buy” rating for the company in a research report on Friday, June 26th. Finally, Bank of America began coverage on shares of ProQR Therapeutics in a research note on Thursday, August 20th. They set a “buy” rating and a $8.00 price target for the company. Six research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, ProQR Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus target price of $7.60.

ProQR Therapeutics Trading Down 2.7%

Shares of NASDAQ PRQR traded down $0.05 during mid-day trading on Thursday, reaching $1.62. The company had a trading volume of 873,267 shares, compared to its average volume of 730,278. The firm has a 50 day simple moving average of $1.94 and a two-hundred day simple moving average of $1.76. ProQR Therapeutics has a 52-week low of $1.33 and a 52-week high of $3.10. The stock has a market cap of $170.16 million, a P/E ratio of -3.51 and a beta of 0.06.

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

Insider Buying and Selling at ProQR Therapeutics

In other news, Director Bart Filius bought 150,000 shares of ProQR Therapeutics stock in a transaction dated Friday, July 17th. The stock was bought at an average price of $1.72 per share, for a total transaction of $258,000.00. Following the purchase, the director owned 300,000 shares of the company’s stock, valued at approximately $516,000. The trade was a 100.00% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Daniel de Boer purchased 150,000 shares of the company’s stock in a transaction dated Thursday, July 9th. The shares were purchased at an average price of $1.74 per share, for a total transaction of $261,000.00. Following the completion of the purchase, 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. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired a total of 450,000 shares of company stock worth $757,500 over the last three months. 8.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On ProQR Therapeutics

A number of institutional investors have recently added to or reduced their stakes in PRQR. Bank of America Corp DE raised its stake in shares of ProQR Therapeutics by 6.4% during the 1st quarter. Bank of America Corp DE now owns 185,110 shares of the biopharmaceutical company’s stock worth $300,000 after buying an additional 11,186 shares in the last quarter. Walleye Capital LLC boosted its stake 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 in the last quarter. Axiom Investment Management LLC acquired a new position in ProQR Therapeutics during the first quarter worth $53,000. Finally, RFG Advisory LLC grew its holdings 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 acquiring an additional 45,000 shares during the period. Hedge funds and other institutional investors own 32.65% of the company’s stock.

About ProQR Therapeutics

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.