ProQR Therapeutics (NASDAQ:PRQR) Announces Earnings Results

ProQR Therapeutics (NASDAQ:PRQR) released its quarterly earnings results on Tuesday. The biopharmaceutical company reported ($0.15) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.15), FiscalAI reports. ProQR Therapeutics had a negative return on equity of 65.89% and a negative net margin of 255.83%.The firm had revenue of $2.35 million during the quarter, compared to the consensus estimate of $5.19 million.

ProQR Therapeutics Price Performance

ProQR Therapeutics stock traded down $0.05 during mid-day trading on Tuesday, hitting $1.57. 187,401 shares of the company’s stock traded hands, compared to its average volume of 522,843. The firm has a 50 day simple moving average of $1.69 and a two-hundred day simple moving average of $1.89. ProQR Therapeutics has a fifty-two week low of $1.33 and a fifty-two week high of $3.10. The stock has a market cap of $164.89 million, a price-to-earnings ratio of -3.40 and a beta of 0.08.

Institutional Investors Weigh In On ProQR Therapeutics

Hedge funds have recently added to or reduced their stakes in the business. Osaic Holdings Inc. lifted its holdings in ProQR Therapeutics by 59.6% during the 2nd quarter. Osaic Holdings Inc. now owns 12,050 shares of the biopharmaceutical company’s stock valued at $25,000 after purchasing an additional 4,500 shares during the last quarter. Guggenheim Capital LLC bought a new position in ProQR Therapeutics during the 4th quarter worth $35,000. Invesco Ltd. bought a new position in ProQR Therapeutics during the 4th quarter worth $51,000. Simplex Trading LLC increased its position in ProQR Therapeutics by 44,169.0% during the 4th quarter. Simplex Trading LLC now owns 44,269 shares of the biopharmaceutical company’s stock worth $89,000 after buying an additional 44,169 shares during the period. Finally, Persistent Asset Partners Ltd increased its position in ProQR Therapeutics by 24.5% during the 4th quarter. Persistent Asset Partners Ltd now owns 45,154 shares of the biopharmaceutical company’s stock worth $91,000 after buying an additional 8,874 shares during the period. Institutional investors and hedge funds own 32.65% of the company’s stock.

Analysts Set New Price Targets

PRQR has been the subject of a number of recent research reports. Wall Street Zen raised ProQR Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Saturday, March 14th. Chardan Capital reiterated a “buy” rating and set a $4.00 price objective on shares of ProQR Therapeutics in a research note on Thursday, April 9th. Citigroup reiterated a “market outperform” rating on shares of ProQR Therapeutics in a research note on Friday, March 13th. Oppenheimer assumed coverage on ProQR Therapeutics in a research note on Thursday, March 12th. They set an “outperform” rating and a $9.00 price objective on the stock. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of ProQR Therapeutics in a research note on Tuesday, April 21st. Six 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 stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $7.25.

About ProQR Therapeutics

ProQR Therapeutics N.V. is a clinical-stage biotechnology company dedicated to developing RNA-based therapies for severe genetic diseases. Utilizing its proprietary Axiomer® RNA editing platform, ProQR aims to correct disease-causing mutations directly at the messenger RNA level. The company’s pipeline features several investigational candidates, including sepofarsen (formerly QR-110) for Leber congenital amaurosis type 10, QR-421a targeting Usher syndrome and certain forms of retinitis pigmentosa, and QR-313 for dystrophic epidermolysis bullosa.

Founded in 2012 and headquartered in Leiden, the Netherlands, ProQR maintains a significant presence in Cambridge, Massachusetts, to support its clinical research and regulatory initiatives.