HC Wainwright Has Lowered Expectations for ProQR Therapeutics (NASDAQ:PRQR) Stock Price

ProQR Therapeutics (NASDAQ:PRQR) had its price objective decreased by investment analysts at HC Wainwright to $8.00 in a research note issued to investors on Thursday, Benzinga reports. The firm presently has a “buy” rating on the biopharmaceutical company’s stock. HC Wainwright’s target price would indicate a potential upside of 389.30% from the stock’s previous close.

Several other equities analysts have also issued reports on PRQR. Weiss Ratings upgraded ProQR Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, August 14th. Chardan Capital reduced their target price on ProQR Therapeutics from $4.00 to $3.00 and set a “buy” rating for the company in a research note on Friday, June 26th. Wall Street Zen upgraded shares of ProQR Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Saturday, August 15th. JonesTrading lowered their target price on 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, Citigroup reiterated a “market outperform” rating on shares of ProQR Therapeutics in a research report on Thursday, October 1st. Six investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $7.60.

ProQR Therapeutics Trading Down 2.1%

Shares of NASDAQ PRQR traded down $0.04 during trading hours on Thursday, reaching $1.64. The stock had a trading volume of 23,074 shares, compared to its average volume of 732,579. 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 $172.27 million, a price-to-earnings ratio of -3.55 and a beta of 0.20. The business’s fifty day moving average price is $1.94 and its two-hundred day moving average price is $1.76.

ProQR Therapeutics (NASDAQ:PRQR) last announced its quarterly earnings results on Thursday, August 13th. The biopharmaceutical company reported ($0.09) EPS for the quarter, beating the consensus estimate of ($0.13) by $0.04. The firm had revenue of $10.00 million for the quarter, compared to analyst estimates of $4.56 million. ProQR Therapeutics had a negative return on equity of 73.83% and a negative net margin of 223.51%. Equities research analysts anticipate that ProQR Therapeutics will post -0.45 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Bart Filius bought 150,000 shares of the company’s stock in a transaction dated 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 completion of the transaction, the director directly owned 300,000 shares in the company, valued at $516,000. This trade represents a 100.00% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Daniel de Boer bought 150,000 shares of the business’s stock in a transaction dated Thursday, July 9th. The shares were bought at an average cost of $1.74 per share, with a total value of $261,000.00. Following the purchase, the chief executive officer directly owned 300,000 shares of the company’s stock, valued at approximately $522,000. This represents a 100.00% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 8.40% of the company’s stock.

Institutional Investors Weigh In On ProQR Therapeutics

Several institutional investors have recently bought and sold shares of the company. RFG Advisory LLC raised its stake in ProQR Therapeutics by 236.8% in the 2nd quarter. RFG Advisory LLC now owns 64,000 shares of the biopharmaceutical company’s stock valued at $119,000 after purchasing an additional 45,000 shares during the last quarter. Axiom Investment Management LLC acquired a new position in shares of ProQR Therapeutics in the 1st quarter worth approximately $53,000. Bank of America Corp DE boosted its position in shares of ProQR Therapeutics by 6.4% during the first 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 during the period. Finally, Walleye Capital LLC boosted its holdings in ProQR Therapeutics by 2.7% during the 1st quarter. Walleye Capital LLC now owns 607,529 shares of the biopharmaceutical company’s stock valued at $984,000 after acquiring an additional 15,744 shares during the period. 32.65% of the stock is currently owned by institutional investors and hedge funds.

ProQR Therapeutics Company Profile

ProQR Therapeutics N.V. is a biotechnology company focused on developing RNA-based medicines for genetic diseases. The company’s research is centered on using RNA therapies to correct or modify disease-causing genetic information, with the goal of addressing conditions that may not be effectively treated through conventional drug-development approaches.

ProQR’s technology portfolio includes Axiomer, an RNA-editing platform designed to make precise changes to RNA inside cells. The company has also developed investigational therapies for inherited retinal diseases and other genetic disorders.