ProQR Therapeutics (NASDAQ:PRQR) Downgraded to “Strong Sell” Rating by Zacks Research

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

Other equities research analysts have also issued reports about the stock. Cantor Fitzgerald reissued an “overweight” rating and set a $8.00 target price on shares of ProQR Therapeutics in a research note on Friday, June 27th. Weiss Ratings reiterated a “sell (d-)” rating on shares of ProQR Therapeutics in a research report on Wednesday, October 8th. Chardan Capital reiterated a “buy” rating and set a $4.00 price target on shares of ProQR Therapeutics in a research report on Friday, August 8th. Evercore ISI reiterated an “outperform” rating on shares of ProQR Therapeutics in a research report on Friday, July 11th. Finally, JMP Securities reiterated a “market outperform” rating and set a $8.00 target price on shares of ProQR Therapeutics in a research report on Friday, June 27th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $8.00.

ProQR Therapeutics Trading Up 3.3%

ProQR Therapeutics stock opened at $2.80 on Wednesday. ProQR Therapeutics has a 12 month low of $1.07 and a 12 month high of $4.62. The stock’s 50 day simple moving average is $2.23 and its two-hundred day simple moving average is $1.94. The firm has a market cap of $294.59 million, a PE ratio of -6.09 and a beta of 0.23.

ProQR Therapeutics (NASDAQ:PRQR) last announced its quarterly earnings results on Thursday, August 7th. The biopharmaceutical company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.06). ProQR Therapeutics had a negative return on equity of 61.25% and a negative net margin of 238.52%.The firm had revenue of $4.33 million for the quarter, compared to analysts’ expectations of $5.01 million. On average, equities research analysts forecast that ProQR Therapeutics will post -0.31 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Aberdeen Group plc purchased a new position in ProQR Therapeutics during the first quarter worth approximately $2,461,000. Affinity Asset Advisors LLC raised its holdings in shares of ProQR Therapeutics by 16.3% during the 1st quarter. Affinity Asset Advisors LLC now owns 3,284,512 shares of the biopharmaceutical company’s stock worth $4,368,000 after acquiring an additional 459,512 shares during the period. Monaco Asset Management SAM boosted its position in shares of ProQR Therapeutics by 59.1% during the 1st quarter. Monaco Asset Management SAM now owns 471,908 shares of the biopharmaceutical company’s stock valued at $628,000 after acquiring an additional 175,290 shares during the last quarter. Jane Street Group LLC boosted its position in shares of ProQR Therapeutics by 699.3% during the 1st quarter. Jane Street Group LLC now owns 91,120 shares of the biopharmaceutical company’s stock valued at $121,000 after acquiring an additional 79,720 shares during the last quarter. Finally, Walleye Capital LLC boosted its position in shares of ProQR Therapeutics by 11.6% during the 1st quarter. Walleye Capital LLC now owns 503,564 shares of the biopharmaceutical company’s stock valued at $670,000 after acquiring an additional 52,261 shares during the last quarter. Hedge funds and other institutional investors own 32.65% of the company’s stock.

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).