Brokerages Set ProQR Therapeutics (NASDAQ:PRQR) PT at $8.00

ProQR Therapeutics (NASDAQ:PRQR) has earned a consensus recommendation of “Buy” from the eight research firms that are presently covering the firm, Marketbeat reports. Seven research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $8.00.

A number of research firms recently commented on PRQR. Cantor Fitzgerald initiated coverage on ProQR Therapeutics in a research report on Tuesday, April 29th. They set an “overweight” rating and a $8.00 price target on the stock. Evercore ISI initiated coverage on ProQR Therapeutics in a research report on Tuesday, April 29th. They issued an “outperform” rating and a $5.00 price objective on the stock. HC Wainwright increased their price objective on ProQR Therapeutics from $10.00 to $12.00 and gave the company a “buy” rating in a research report on Friday, March 14th. Chardan Capital reiterated a “buy” rating and issued a $4.00 price objective on shares of ProQR Therapeutics in a research report on Friday, March 14th. Finally, Citigroup upgraded ProQR Therapeutics from a “neutral” rating to a “buy” rating and set a $4.00 price objective on the stock in a research report on Monday, March 10th.

ProQR Therapeutics Price Performance

NASDAQ PRQR opened at $1.82 on Thursday. The firm has a market cap of $191.49 million, a PE ratio of -5.69 and a beta of 0.31. ProQR Therapeutics has a one year low of $1.07 and a one year high of $4.62. The stock’s 50 day simple moving average is $1.53 and its 200 day simple moving average is $2.10.

ProQR Therapeutics (NASDAQ:PRQR) last released its quarterly earnings results on Thursday, May 8th. The biopharmaceutical company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.02). The business had revenue of $4.89 million for the quarter, compared to the consensus estimate of $4.90 million. ProQR Therapeutics had a negative return on equity of 71.58% and a negative net margin of 134.31%. As a group, equities analysts expect that ProQR Therapeutics will post -0.31 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Jane Street Group LLC raised its stake in ProQR Therapeutics by 699.3% during the 1st quarter. Jane Street Group LLC now owns 91,120 shares of the biopharmaceutical company’s stock worth $121,000 after buying an additional 79,720 shares during the period. Affinity Asset Advisors LLC raised its stake in ProQR Therapeutics by 16.3% during the 1st quarter. Affinity Asset Advisors LLC now owns 3,284,512 shares of the biopharmaceutical company’s stock worth $4,368,000 after buying an additional 459,512 shares during the period. Walleye Capital LLC raised its stake in ProQR Therapeutics by 11.6% during the 1st quarter. Walleye Capital LLC now owns 503,564 shares of the biopharmaceutical company’s stock worth $670,000 after buying an additional 52,261 shares during the period. Aberdeen Group plc acquired a new stake in ProQR Therapeutics during the 1st quarter worth $2,461,000. Finally, Persistent Asset Partners Ltd acquired a new stake in ProQR Therapeutics during the 1st quarter worth $64,000. 32.65% of the stock is currently owned by institutional investors.

About ProQR Therapeutics

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).