Brokerages Set ProQR Therapeutics N.V. (NASDAQ:PRQR) Target Price at $8.00

Shares of ProQR Therapeutics N.V. (NASDAQ:PRQR) have been assigned an average rating of “Buy” from the eight ratings firms that are currently covering the firm, MarketBeat reports. Seven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $8.00.

A number of research firms have issued reports on PRQR. Citigroup raised ProQR Therapeutics from a “neutral” rating to a “buy” rating and set a $4.00 price target on the stock in a research report on Monday, March 10th. Oppenheimer dropped their price objective on ProQR Therapeutics from $15.00 to $9.00 and set an “outperform” rating on the stock in a report on Tuesday, May 13th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $8.00 price objective on shares of ProQR Therapeutics in a report on Friday, June 27th. HC Wainwright increased their price objective on ProQR Therapeutics from $10.00 to $12.00 and gave the company a “buy” rating in a report on Friday, March 14th. Finally, Evercore ISI assumed coverage on ProQR Therapeutics in a research note on Tuesday, April 29th. They set an “outperform” rating and a $5.00 price target on the stock.

ProQR Therapeutics Trading Up 6.0%

PRQR opened at $2.13 on Monday. The stock’s 50-day moving average price is $1.78 and its 200 day moving average price is $1.94. ProQR Therapeutics has a 12-month low of $1.07 and a 12-month high of $4.62. The firm has a market cap of $224.10 million, a price-to-earnings ratio of -6.09 and a beta of 0.36.

ProQR Therapeutics (NASDAQ:PRQR) last posted its 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 53.49% and a negative net margin of 157.04%. On average, research analysts forecast that ProQR Therapeutics will post -0.31 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of PRQR. M&T Bank Corp acquired a new stake in shares of ProQR Therapeutics in the 4th quarter valued at approximately $330,000. Raymond James Financial Inc. acquired a new stake in shares of ProQR Therapeutics in the 4th quarter valued at approximately $260,000. PNC Financial Services Group Inc. acquired a new stake in shares of ProQR Therapeutics in the 4th quarter valued at approximately $77,000. Platinum Investment Management Ltd. acquired a new stake in shares of ProQR Therapeutics in the 4th quarter valued at approximately $4,076,000. Finally, Virtu Financial LLC acquired a new stake in shares of ProQR Therapeutics in the 4th quarter valued at approximately $83,000. 32.65% of the stock is currently owned by hedge funds and other institutional investors.

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).