ProQR Therapeutics (NASDAQ:PRQR) Receives Consensus Recommendation of “Buy” from Brokerages

ProQR Therapeutics (NASDAQ:PRQR) has been given a consensus recommendation of “Buy” by the six research firms that are covering the company, Marketbeat Ratings reports. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $8.83.

Several research firms have weighed in on PRQR. StockNews.com downgraded ProQR Therapeutics from a “hold” rating to a “sell” rating in a research note on Thursday, November 28th. HC Wainwright reaffirmed a “buy” rating and set a $10.00 target price on shares of ProQR Therapeutics in a report on Thursday, December 12th. Oppenheimer began coverage on shares of ProQR Therapeutics in a report on Friday, January 10th. They issued an “outperform” rating and a $15.00 price target on the stock. Chardan Capital restated a “buy” rating and set a $4.00 price objective on shares of ProQR Therapeutics in a research note on Thursday, December 12th. Finally, Raymond James upgraded shares of ProQR Therapeutics from an “outperform” rating to a “strong-buy” rating and increased their price objective for the stock from $6.00 to $14.00 in a research note on Tuesday, October 29th.

ProQR Therapeutics Price Performance

Shares of PRQR opened at $2.51 on Tuesday. The company’s fifty day moving average price is $2.43 and its 200-day moving average price is $2.63. ProQR Therapeutics has a 1-year low of $1.61 and a 1-year high of $4.62. The firm has a market capitalization of $205.02 million, a PE ratio of -7.84 and a beta of 0.26.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Adage Capital Partners GP L.L.C. grew its stake in shares of ProQR Therapeutics by 164.9% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 9,602,280 shares of the biopharmaceutical company’s stock worth $25,446,000 after purchasing an additional 5,976,813 shares during the period. Woodline Partners LP purchased a new stake in ProQR Therapeutics during the fourth quarter worth $9,426,000. Affinity Asset Advisors LLC acquired a new stake in ProQR Therapeutics during the fourth quarter valued at $7,486,000. Millennium Management LLC increased its holdings in ProQR Therapeutics by 1,864.4% in the fourth quarter. Millennium Management LLC now owns 2,827,280 shares of the biopharmaceutical company’s stock valued at $7,492,000 after buying an additional 2,683,351 shares in the last quarter. Finally, Platinum Investment Management Ltd. purchased a new position in ProQR Therapeutics in the fourth quarter valued at $4,076,000. 32.65% of the stock is currently owned by hedge funds and other institutional investors.

About ProQR Therapeutics

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).