Brokerages Set ProQR Therapeutics (NASDAQ:PRQR) Target Price at $8.75

Shares of ProQR Therapeutics (NASDAQ:PRQR) have been assigned a consensus recommendation of “Buy” from the eight research firms that are covering the stock, MarketBeat.com reports. Seven investment analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $8.00.

PRQR has been the topic of several analyst reports. HC Wainwright increased their price target on shares of ProQR Therapeutics from $10.00 to $12.00 and gave the stock a “buy” rating in a research report on Friday, March 14th. Oppenheimer cut their target price on shares of ProQR Therapeutics from $15.00 to $9.00 and set an “outperform” rating on the stock in a research report on Tuesday. Citigroup upgraded shares of ProQR Therapeutics from a “neutral” rating to a “buy” rating and set a $4.00 target price on the stock in a research report on Monday, March 10th. Cantor Fitzgerald assumed coverage on shares of ProQR Therapeutics in a research report on Tuesday, April 29th. They issued an “overweight” rating and a $8.00 target price on the stock. Finally, Chardan Capital restated a “buy” rating and issued a $4.00 target price on shares of ProQR Therapeutics in a research report on Friday, March 14th.

Hedge Funds Weigh In On ProQR Therapeutics

Several large investors have recently modified their holdings of the business. Adage Capital Partners GP L.L.C. raised its stake in shares of ProQR Therapeutics by 164.9% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 9,602,280 shares of the biopharmaceutical company’s stock valued at $25,446,000 after acquiring an additional 5,976,813 shares during the last quarter. Woodline Partners LP bought a new position in ProQR Therapeutics during the fourth quarter worth $9,426,000. Millennium Management LLC raised its stake in ProQR Therapeutics by 1,864.4% during the fourth quarter. Millennium Management LLC now owns 2,827,280 shares of the biopharmaceutical company’s stock worth $7,492,000 after buying an additional 2,683,351 shares during the last quarter. Affinity Asset Advisors LLC bought a new position in ProQR Therapeutics during the fourth quarter worth $7,486,000. Finally, Aberdeen Group plc bought a new position in ProQR Therapeutics during the first quarter worth $2,461,000. Institutional investors own 32.65% of the company’s stock.

ProQR Therapeutics Trading Down 3.8%

NASDAQ PRQR opened at $1.53 on Friday. The firm has a market capitalization of $160.98 million, a price-to-earnings ratio of -4.78 and a beta of 0.35. The firm’s 50 day simple moving average is $1.48 and its 200 day simple moving average is $2.37. ProQR Therapeutics has a 1 year low of $1.07 and a 1 year high of $4.62.

ProQR Therapeutics (NASDAQ:PRQR) last posted its quarterly earnings results on Thursday, May 8th. The biopharmaceutical company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.02). The firm had revenue of $4.89 million for the quarter, compared to analyst estimates of $4.90 million. ProQR Therapeutics had a negative return on equity of 71.58% and a negative net margin of 134.31%. On average, equities research analysts forecast that ProQR Therapeutics will post -0.31 earnings per share for the current year.

ProQR Therapeutics Company Profile

ProQR Therapeutics N.V., a biotechnology company, focuses on the discovery and development of novel therapeutic medicines. The company's products pipeline includes AX-0810 for cholestatic diseases targeting Na-taurocholate cotransporting polypeptide (NTCP); and AX-1412 for cardiovascular diseases (CVDs) targeting Beta-1,4-galactosyltransferase 1 (B4GALT1).