JonesTrading Has Lowered Expectations for ProQR Therapeutics (NASDAQ:PRQR) Stock Price

ProQR Therapeutics (NASDAQ:PRQR) had its price target reduced by JonesTrading from $11.00 to $10.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a “buy” rating on the biopharmaceutical company’s stock.

A number of other equities research analysts also recently issued reports on the stock. Wall Street Zen downgraded shares of ProQR Therapeutics from a “hold” rating to a “strong sell” rating in a research note on Saturday, May 16th. Citigroup restated a “market outperform” rating on shares of ProQR Therapeutics in a research report on Wednesday, May 27th. Oppenheimer started coverage on shares of ProQR Therapeutics in a report on Thursday, March 12th. They issued an “outperform” rating and a $9.00 price target for the company. Chardan Capital decreased their price objective on ProQR Therapeutics from $4.00 to $3.00 and set a “buy” rating on the stock in a research report on Friday. Finally, Weiss Ratings cut ProQR Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday. Seven analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, ProQR Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $7.60.

ProQR Therapeutics Stock Down 1.3%

PRQR traded down $0.02 during mid-day trading on Friday, reaching $1.54. 760,837 shares of the company traded hands, compared to its average volume of 623,590. The stock has a market capitalization of $162.78 million, a P/E ratio of -3.11 and a beta of 0.07. The company’s fifty day moving average price is $1.61 and its 200-day moving average price is $1.71. ProQR Therapeutics has a 52-week low of $1.33 and a 52-week high of $3.10.

ProQR Therapeutics (NASDAQ:PRQR) last announced its quarterly earnings data on Tuesday, May 12th. The biopharmaceutical company reported ($0.15) EPS for the quarter, meeting the consensus estimate of ($0.15). The firm had revenue of $2.35 million for the quarter, compared to the consensus estimate of $5.19 million. ProQR Therapeutics had a negative net margin of 331.33% and a negative return on equity of 84.87%. As a group, sell-side analysts forecast that ProQR Therapeutics will post -0.57 earnings per share for the current fiscal year.

Institutional Trading of ProQR Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in PRQR. Osaic Holdings Inc. raised its stake in shares of ProQR Therapeutics by 59.6% during the 2nd quarter. Osaic Holdings Inc. now owns 12,050 shares of the biopharmaceutical company’s stock worth $25,000 after buying an additional 4,500 shares during the period. Guggenheim Capital LLC acquired a new position in shares of ProQR Therapeutics during the 4th quarter worth approximately $35,000. Moody Lynn & Lieberson LLC acquired a new stake in shares of ProQR Therapeutics in the 4th quarter worth $50,000. Invesco Ltd. purchased a new stake in ProQR Therapeutics in the 4th quarter valued at about $51,000. Finally, Axiom Investment Management LLC purchased a new stake in shares of ProQR Therapeutics during the first quarter worth $53,000. 32.65% of the stock is currently owned by hedge funds and other institutional investors.

ProQR Therapeutics Company Profile

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.