HC Wainwright Cuts ProQR Therapeutics (NASDAQ:PRQR) Price Target to $8.00

ProQR Therapeutics (NASDAQ:PRQR) had its price target decreased by HC Wainwright to $8.00 in a research note issued to investors on Thursday,Benzinga reports. HC Wainwright currently has a buy rating on the biopharmaceutical company’s stock.

PRQR has been the topic of a number of other research reports. Chardan Capital lowered their target price on ProQR Therapeutics from $4.00 to $3.00 and set a “buy” rating on the stock in a research note on Friday, June 26th. JonesTrading reduced their price target on ProQR Therapeutics from $11.00 to $10.00 and set a “buy” rating for the company in a research note on Friday, June 26th. Bank of America initiated coverage on ProQR Therapeutics in a research note on Thursday, August 20th. They issued a “buy” rating and a $8.00 price target for the company. Citigroup reaffirmed a “market outperform” rating on shares of ProQR Therapeutics in a report on Thursday. Finally, Weiss Ratings upgraded ProQR Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, August 14th. 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. Based on data from MarketBeat, ProQR Therapeutics presently has a consensus rating of “Moderate Buy” and an average target price of $7.60.

ProQR Therapeutics Stock Performance

Shares of PRQR opened at $1.64 on Thursday. ProQR Therapeutics has a 52 week low of $1.33 and a 52 week high of $3.10. The firm has a market cap of $172.26 million, a P/E ratio of -3.55 and a beta of 0.20. The firm’s 50-day simple moving average is $1.94 and its 200 day simple moving average is $1.76.

ProQR Therapeutics (NASDAQ:PRQR) last released its quarterly earnings results on Thursday, August 13th. The biopharmaceutical company reported ($0.09) earnings per share 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 firm had revenue of $10.00 million for the quarter, compared to analysts’ expectations of $4.56 million. As a group, equities analysts forecast that ProQR Therapeutics will post -0.45 earnings per share for the current year.

Insider Activity at ProQR Therapeutics

In other news, CEO Daniel de Boer purchased 150,000 shares of the business’s stock in a transaction dated Thursday, July 9th. The stock was bought at an average price of $1.74 per share, with a total value of $261,000.00. Following the acquisition, the chief executive officer owned 300,000 shares in the company, valued at approximately $522,000. The trade was a 100.00% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Bart Filius purchased 150,000 shares of ProQR Therapeutics stock in a transaction that occurred on Friday, July 17th. The shares were purchased at an average price of $1.72 per share, for a total transaction of $258,000.00. Following the transaction, the director directly owned 300,000 shares in the company, valued at $516,000. This represents a 100.00% increase in their position. The SEC filing for this purchase provides additional information. Insiders bought a total of 450,000 shares of company stock valued at $757,500 over the last 90 days. Corporate insiders own 8.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in PRQR. Walleye Capital LLC boosted its holdings in shares of 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 in the last quarter. Bank of America Corp DE increased its stake 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 purchasing an additional 11,186 shares during the last quarter. RFG Advisory LLC raised 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 buying an additional 45,000 shares in the last quarter. Finally, Axiom Investment Management LLC acquired a new position in shares of ProQR Therapeutics during the 1st quarter worth $53,000. 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.