Cantor Fitzgerald Initiates Coverage on ProQR Therapeutics (NASDAQ:PRQR)

Stock analysts at Cantor Fitzgerald assumed coverage on shares of ProQR Therapeutics (NASDAQ:PRQR) in a research report issued on Tuesday. The firm set an “overweight” rating and a $8.00 price target on the biopharmaceutical company’s stock. Cantor Fitzgerald’s price objective would indicate a potential upside of 419.48% from the company’s previous close.

PRQR has been the subject of several other research reports. Evercore ISI initiated coverage on shares of ProQR Therapeutics in a report on Tuesday. They issued an “outperform” rating and a $5.00 price target for the company. Oppenheimer started coverage on ProQR Therapeutics in a research note on Friday, January 10th. They set an “outperform” rating and a $15.00 price target for the company. Citigroup upgraded ProQR Therapeutics from a “neutral” rating to a “buy” rating and set a $4.00 target price on the stock in a research note on Monday, March 10th. HC Wainwright boosted their target price on ProQR Therapeutics from $10.00 to $12.00 and gave the company a “buy” rating in a research report on Friday, March 14th. Finally, Chardan Capital reaffirmed a “buy” rating and set a $4.00 price target on shares of ProQR Therapeutics in a research report on Friday, March 14th. One analyst has rated the stock with a sell rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $8.75.

ProQR Therapeutics Price Performance

NASDAQ:PRQR opened at $1.54 on Tuesday. The firm’s 50 day simple moving average is $1.62 and its 200 day simple moving average is $2.50. The company has a market cap of $162.03 million, a PE ratio of -4.81 and a beta of 0.25. ProQR Therapeutics has a one year low of $1.07 and a one year high of $4.62.

Hedge Funds Weigh In On ProQR Therapeutics

Several institutional investors have recently made changes to their positions in PRQR. Adage Capital Partners GP L.L.C. raised its position in shares of ProQR Therapeutics by 164.9% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 9,602,280 shares of the biopharmaceutical company’s stock valued at $25,446,000 after buying an additional 5,976,813 shares during the period. Woodline Partners LP purchased a new stake in ProQR Therapeutics during the 4th quarter worth $9,426,000. Affinity Asset Advisors LLC acquired a new position in shares of ProQR Therapeutics in the 4th quarter valued at about $7,486,000. Millennium Management LLC increased its stake in shares of ProQR Therapeutics by 1,864.4% during the fourth quarter. Millennium Management LLC now owns 2,827,280 shares of the biopharmaceutical company’s stock valued at $7,492,000 after acquiring an additional 2,683,351 shares during the period. Finally, Platinum Investment Management Ltd. acquired a new position in ProQR Therapeutics in the 4th quarter worth approximately $4,076,000. Hedge funds and other institutional investors own 32.65% of the company’s stock.

ProQR Therapeutics Company Profile

ProQR Therapeutics N.V., a biotechnology company, focuses on the discovery and development of novel therapeutic medicines. The company's products pipeline includes AX-0810 for cholestatic diseases targeting Na-taurocholate cotransporting polypeptide (NTCP); and AX-1412 for cardiovascular diseases (CVDs) targeting Beta-1,4-galactosyltransferase 1 (B4GALT1).