Proteon Therapeutics (NASDAQ:PRTO) Downgraded by Zacks Investment Research

Zacks Investment Research lowered shares of Proteon Therapeutics (NASDAQ:PRTO) from a buy rating to a hold rating in a report issued on Wednesday morning, Zacks.com reports.

According to Zacks, “Proteon Therapeutics Inc. is a biopharmaceutical company. The Company is developing pharmaceuticals to address the medical needs of patients with kidney and vascular diseases. It is developing PRT-201, a recombinant human elastase, applied in a single treatment to the external surface of arteries and veins during an open surgical procedure or an endovascular intervention. Proteon Therapeutics Inc. is headquartered in Waltham, Mass. “

Other equities analysts also recently issued reports about the company. Cowen reiterated a buy rating and set a $149.00 target price on shares of Intercept Pharmaceuticals in a research report on Wednesday, May 8th. Robert W. Baird lifted their price target on Total System Services from $98.00 to $110.00 and gave the stock an outperform rating in a research report on Friday, March 29th. JMP Securities lowered Proteon Therapeutics to a market perform rating in a research report on Thursday, March 28th. HC Wainwright reiterated a buy rating on shares of Zynerba Pharmaceuticals in a research report on Monday, March 18th. Finally, Maxim Group set a $9.00 price target on Brainstorm Cell Therapeutics and gave the stock a buy rating in a research report on Thursday, March 28th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company presently has an average rating of Hold and an average target price of $2.63.

PRTO stock opened at $0.45 on Wednesday. Proteon Therapeutics has a 1 year low of $0.35 and a 1 year high of $3.94. The business has a fifty day moving average price of $0.42.

Proteon Therapeutics (NASDAQ:PRTO) last released its earnings results on Wednesday, May 8th. The biopharmaceutical company reported ($0.34) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.23) by ($0.11). As a group, research analysts predict that Proteon Therapeutics will post -0.59 earnings per share for the current year.

A hedge fund recently bought a new stake in Proteon Therapeutics stock. Wedbush Securities Inc. acquired a new stake in shares of Proteon Therapeutics Inc (NASDAQ:PRTO) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 59,000 shares of the biopharmaceutical company’s stock, valued at approximately $30,000. Wedbush Securities Inc. owned about 0.30% of Proteon Therapeutics at the end of the most recent reporting period. Institutional investors and hedge funds own 22.86% of the company’s stock.

About Proteon Therapeutics

Proteon Therapeutics, Inc, a late-stage biopharmaceutical company, focuses on the development of pharmaceuticals to address the needs of patients with renal and vascular disease. Its lead product candidate is vonapanitase, an investigational drug intended to enhance hemodialysis vascular access outcomes.

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