ProQR Therapeutics (NASDAQ:PRQR) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Saturday.
According to Zacks, “ProQR Therapeutics B.V. is a biotech company. It is engaged in the discovery and development of RNA-based therapeutics for the treatment of severe genetic disorders, with an initial focus on Cystic Fibrosis (CF). The Company’s lead product candidate includes QR-010, a RNA-based oligonucleotide for the treatment of cystic fibrosis. ProQR Therapeutics B.V. is headquartered in Leiden, the Netherlands. “
A number of other brokerages also recently commented on PRQR. Evercore ISI started coverage on ProQR Therapeutics in a research report on Tuesday, September 18th. They set an “outperform” rating and a $35.00 price objective for the company. Chardan Capital reissued a “buy” rating and set a $9.00 price objective on shares of ProQR Therapeutics in a research report on Monday, August 13th. HC Wainwright set a $20.00 price objective on ProQR Therapeutics and gave the stock a “buy” rating in a research report on Thursday, August 9th. Finally, ValuEngine raised ProQR Therapeutics from a “buy” rating to a “strong-buy” rating in a research report on Thursday, September 6th. One research analyst has rated the stock with a sell rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $18.00.
Shares of ProQR Therapeutics stock opened at $17.40 on Friday. ProQR Therapeutics has a one year low of $2.75 and a one year high of $22.85. The stock has a market cap of $745.89 million, a PE ratio of -8.97 and a beta of 0.38. The company has a debt-to-equity ratio of 0.26, a current ratio of 4.02 and a quick ratio of 4.02.
ProQR Therapeutics (NASDAQ:PRQR) last announced its quarterly earnings data on Wednesday, August 8th. The biopharmaceutical company reported ($0.27) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.42) by $0.15. On average, sell-side analysts predict that ProQR Therapeutics will post -1.38 earnings per share for the current year.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Jennison Associates LLC boosted its holdings in ProQR Therapeutics by 1.0% in the second quarter. Jennison Associates LLC now owns 2,981,205 shares of the biopharmaceutical company’s stock valued at $21,763,000 after purchasing an additional 30,831 shares in the last quarter. Millennium Management LLC acquired a new position in ProQR Therapeutics in the second quarter valued at approximately $1,426,000. Franklin Street Advisors Inc. NC boosted its holdings in ProQR Therapeutics by 50.0% in the second quarter. Franklin Street Advisors Inc. NC now owns 90,000 shares of the biopharmaceutical company’s stock valued at $657,000 after purchasing an additional 30,000 shares in the last quarter. Essex Investment Management Co. LLC acquired a new position in ProQR Therapeutics in the second quarter valued at approximately $604,000. Finally, Ardsley Advisory Partners acquired a new position in ProQR Therapeutics in the second quarter valued at approximately $365,000. 28.72% of the stock is owned by hedge funds and other institutional investors.
About ProQR Therapeutics
ProQR Therapeutics N.V., a biopharmaceutical company, engages in the discovery and development of RNA-based therapeutics for the treatment of genetic disorders. Its lead product candidates include eluforsen, a RNA-based oligonucleotide used for the treatment of cystic fibrosis; QR-110, an oligonucleotide that is designed to treat Leber's congenital amaurosis; QR-313, a dermatology candidate for the treatment of epidermolysis bullosa; and QR-421a and QR-411 to treat type 2A Usher syndrome.
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