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

Chardan Capital restated their buy rating on shares of ProQR Therapeutics (NASDAQ:PRQR) in a research note released on Thursday,Benzinga reports. The firm currently has a $3.00 price target on the biopharmaceutical company’s stock.

A number of other analysts have also recently commented on PRQR. Bank of America initiated coverage on shares of ProQR Therapeutics in a research note on Thursday, August 20th. They set a “buy” rating and a $8.00 price target on the stock. Weiss Ratings upgraded shares of ProQR Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, August 14th. Citigroup reissued a “market outperform” rating on shares of ProQR Therapeutics in a report on Thursday. JonesTrading cut 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. Finally, HC Wainwright reduced their price target on ProQR Therapeutics to $8.00 and set a “buy” rating for the company in a research report on Thursday. Six analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, ProQR Therapeutics presently has an average rating of “Moderate Buy” and a consensus price target of $7.60.

ProQR Therapeutics Stock Performance

Shares of ProQR Therapeutics stock 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 stock’s 50-day simple moving average is $1.94 and its 200 day simple moving average is $1.76. The stock has a market capitalization of $172.26 million, a P/E ratio of -3.55 and a beta of 0.20.

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

Insider Buying and Selling at ProQR Therapeutics

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

Hedge Funds Weigh In On ProQR Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Axiom Investment Management LLC bought a new position in ProQR Therapeutics in the 1st quarter worth about $53,000. RFG Advisory LLC boosted its position 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 valued at $119,000 after acquiring an additional 45,000 shares during the last quarter. Bank of America Corp DE boosted its position in shares of ProQR Therapeutics by 6.4% during the 1st 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 last quarter. Finally, Walleye Capital LLC grew its holdings in shares of ProQR Therapeutics by 2.7% during the first quarter. Walleye Capital LLC now owns 607,529 shares of the biopharmaceutical company’s stock worth $984,000 after purchasing an additional 15,744 shares in the last quarter. 32.65% of the stock is currently owned by hedge funds and other institutional investors.

About ProQR Therapeutics

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.