ProQR Therapeutics (NASDAQ:PRQR) Downgraded by Zacks Investment Research


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Zacks Investment Research lowered shares of ProQR Therapeutics (NASDAQ:PRQR) from a hold rating to a sell rating in a research report report published on Saturday morning, Zacks.com reports.

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 analysts have also recently weighed in on PRQR. JMP Securities upped their price target on ProQR Therapeutics from $19.00 to $35.00 and gave the company an outperform rating in a research report on Wednesday, March 24th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell upped their price target on ProQR Therapeutics from $33.00 to $44.00 and gave the company a buy rating in a research report on Thursday, March 25th. Citigroup upped their price target on ProQR Therapeutics from $33.00 to $44.00 in a research report on Thursday, March 25th. Finally, Cantor Fitzgerald upped their price target on ProQR Therapeutics from $22.00 to $33.00 and gave the company an overweight rating in a research report on Wednesday, March 24th. One equities research analyst has rated the stock with a sell rating and six have issued a buy rating to the stock. ProQR Therapeutics currently has an average rating of Buy and an average price target of $27.75.

Shares of PRQR stock opened at $6.18 on Friday. ProQR Therapeutics has a 12 month low of $3.40 and a 12 month high of $9.46. The firm has a market cap of $310.27 million, a PE ratio of -5.02 and a beta of 0.73. The stock has a 50 day moving average of $6.33 and a 200-day moving average of $4.91. The company has a quick ratio of 8.52, a current ratio of 8.52 and a debt-to-equity ratio of 0.24.

ProQR Therapeutics (NASDAQ:PRQR) last issued its quarterly earnings results on Thursday, February 25th. The biopharmaceutical company reported ($0.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.02). The firm had revenue of $0.32 million during the quarter, compared to the consensus estimate of $0.30 million. As a group, equities analysts predict that ProQR Therapeutics will post -1.03 EPS for the current fiscal year.

Several hedge funds have recently made changes to their positions in the company. Lindbrook Capital LLC grew its holdings in shares of ProQR Therapeutics by 1,500.0% during the first quarter. Lindbrook Capital LLC now owns 9,600 shares of the biopharmaceutical company’s stock worth $63,000 after purchasing an additional 9,000 shares during the last quarter. Kestra Advisory Services LLC acquired a new position in shares of ProQR Therapeutics during the fourth quarter valued at $42,000. New York Life Investments Alternatives acquired a new position in shares of ProQR Therapeutics during the fourth quarter valued at $67,000. Golden Green Inc. acquired a new position in shares of ProQR Therapeutics during the fourth quarter valued at $71,000. Finally, Squarepoint Ops LLC acquired a new position in shares of ProQR Therapeutics during the fourth quarter valued at $83,000. Institutional investors own 55.87% of the company’s stock.

About ProQR Therapeutics

ProQR Therapeutics NV is a biopharmaceutical company, which engages in the discovery and development of RNA therapies for the treatment of severe genetic rare diseases such as Leber congenital amaurosis 10, Usher syndrome and retinitis pigmentosa. Its product pipeline include Sepofarsen, QR-421a, QR-1123, and QR-504a.

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