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

ProQR Therapeutics (NASDAQ:PRQR)‘s stock had its “buy” rating reiterated by stock analysts at Chardan Capital in a report issued on Thursday, Benzinga reports. They presently have a $3.00 target price on the biopharmaceutical company’s stock. Chardan Capital’s price objective would suggest a potential upside of 86.92% from the stock’s previous close.

Several other research firms have also weighed in on PRQR. Weiss Ratings upgraded shares of ProQR Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, August 14th. HC Wainwright lowered their price objective on shares of ProQR Therapeutics to $8.00 and set a “buy” rating on the stock in a research note on Thursday. Citigroup restated a “market outperform” rating on shares of ProQR Therapeutics in a research note on Thursday. JonesTrading lowered their price objective on shares of ProQR Therapeutics from $11.00 to $10.00 and set a “buy” rating on the stock in a research note 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 objective on the stock. Six investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $7.60.

ProQR Therapeutics Price Performance

NASDAQ:PRQR traded down $0.06 on Thursday, hitting $1.61. 1,107,572 shares of the company’s stock were exchanged, compared to its average volume of 732,198. The firm has a 50-day moving average price of $1.94 and a 200-day moving average price of $1.76. ProQR Therapeutics has a 52 week low of $1.33 and a 52 week high of $3.10. The company has a market cap of $169.10 million, a P/E ratio of -3.49 and a beta of 0.06.

ProQR Therapeutics (NASDAQ:PRQR) last issued its quarterly 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. ProQR Therapeutics had a negative net margin of 223.51% and a negative return on equity of 73.83%. The firm had revenue of $10.00 million for the quarter, compared to analysts’ expectations of $4.56 million. On average, research analysts expect that ProQR Therapeutics will post -0.45 earnings per share for the current fiscal year.

Insider Transactions at ProQR Therapeutics

In other ProQR Therapeutics news, CEO Daniel de Boer bought 150,000 shares of the firm’s stock in a transaction on 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 transaction, the chief executive officer directly owned 300,000 shares in the company, valued at approximately $522,000. This trade represents a 100.00% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Bart Filius bought 150,000 shares of the firm’s stock in a transaction on Friday, July 17th. The shares were acquired at an average price of $1.72 per share, for a total transaction of $258,000.00. Following the transaction, the director owned 300,000 shares in the company, valued at approximately $516,000. This represents a 100.00% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last quarter, insiders purchased 450,000 shares of company stock worth $757,500. 8.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. RFG Advisory LLC lifted its holdings 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 acquiring an additional 45,000 shares during the period. Axiom Investment Management LLC bought a new stake in shares of ProQR Therapeutics during the 1st quarter worth approximately $53,000. Bank of America Corp DE lifted its holdings 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 acquiring an additional 11,186 shares during the period. Finally, Walleye Capital LLC lifted its stake in ProQR Therapeutics by 2.7% in the 1st quarter. Walleye Capital LLC now owns 607,529 shares of the biopharmaceutical company’s stock valued at $984,000 after purchasing an additional 15,744 shares during the last quarter. Institutional investors and hedge funds 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.