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

ProQR Therapeutics (NASDAQ:PRQR)‘s stock had its “buy” rating restated by equities researchers at Chardan Capital in a research report issued to clients and investors on Thursday, Benzinga reports. They presently have a $3.00 price objective on the biopharmaceutical company’s stock. Chardan Capital’s price objective would indicate a potential upside of 83.04% from the stock’s current price.

PRQR has been the subject of a number of other reports. JonesTrading lowered their price target on ProQR Therapeutics from $11.00 to $10.00 and set a “buy” rating for the company in a report on Friday, June 26th. HC Wainwright decreased their target price on ProQR Therapeutics to $8.00 and set a “buy” rating for the company in a research note on Thursday, October 1st. Wall Street Zen raised ProQR Therapeutics from a “strong sell” rating to a “hold” rating in a report on Saturday, August 15th. Weiss Ratings upgraded ProQR Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, August 14th. Finally, Citigroup reaffirmed a “market outperform” rating on shares of ProQR Therapeutics in a research report on Thursday, October 1st. Six equities research 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’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $7.60.

ProQR Therapeutics Stock Down 1.9%

Shares of PRQR traded down $0.03 during trading on Thursday, reaching $1.64. The company’s stock had a trading volume of 19,027 shares, compared to its average volume of 732,524. ProQR Therapeutics has a twelve month low of $1.33 and a twelve month high of $3.10. The company has a market cap of $172.69 million, a price-to-earnings ratio of -3.55 and a beta of 0.20. The company has a fifty day moving average of $1.94 and a two-hundred day moving average of $1.76.

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

Insiders Place Their Bets

In related news, Director Bart Filius bought 150,000 shares of the firm’s stock in a transaction that occurred on Friday, July 17th. The stock was 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 of the company’s stock, valued at approximately $516,000. This represents a 100.00% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Daniel de Boer purchased 150,000 shares of ProQR Therapeutics stock in a transaction dated Thursday, July 9th. The stock was bought at an average cost of $1.74 per share, with a total value of $261,000.00. Following the completion of the purchase, the chief executive officer owned 300,000 shares in the company, valued at approximately $522,000. This trade represents a 100.00% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders own 8.40% of the company’s stock.

Institutional Trading of ProQR Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of PRQR. RFG Advisory LLC lifted its stake in ProQR Therapeutics by 236.8% during the second quarter. RFG Advisory LLC now owns 64,000 shares of the biopharmaceutical company’s stock valued at $119,000 after buying an additional 45,000 shares in the last quarter. Axiom Investment Management LLC purchased a new position in shares of ProQR Therapeutics in the first quarter worth approximately $53,000. Walleye Capital LLC increased its position in shares of ProQR Therapeutics by 2.7% in the first quarter. Walleye Capital LLC now owns 607,529 shares of the biopharmaceutical company’s stock worth $984,000 after acquiring an additional 15,744 shares in the last quarter. Finally, Bank of America Corp DE raised its holdings 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 valued at $300,000 after acquiring an additional 11,186 shares during the period. Institutional investors own 32.65% of the company’s stock.

About ProQR Therapeutics

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.