ProQR Therapeutics (NASDAQ:PRQR) Given New $8.00 Price Target at HC Wainwright

ProQR Therapeutics (NASDAQ:PRQR) had its price target lowered by analysts at HC Wainwright to $8.00 in a report released on Thursday, Benzinga reports. The firm presently has a “buy” rating on the biopharmaceutical company’s stock. HC Wainwright’s target price would suggest a potential upside of 395.36% from the company’s previous close.

Several other brokerages have also commented on PRQR. Citigroup restated a “market outperform” rating on shares of ProQR Therapeutics in a research note on Thursday. Bank of America assumed coverage on shares of ProQR Therapeutics in a research note on Thursday, August 20th. They issued a “buy” rating and a $8.00 target price on the stock. JonesTrading lowered their target price on shares of ProQR Therapeutics from $11.00 to $10.00 and set a “buy” rating on the stock in a research note on Friday, June 26th. Weiss Ratings upgraded shares of ProQR Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, August 14th. Finally, Wall Street Zen upgraded shares of ProQR Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Saturday, August 15th. Six equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $7.60.

ProQR Therapeutics Stock Down 2.7%

Shares of PRQR traded down $0.05 during mid-day trading on Thursday, hitting $1.62. 612,322 shares of the company’s stock were exchanged, compared to its average volume of 729,304. The firm has a fifty day moving average of $1.94 and a two-hundred day moving average of $1.76. ProQR Therapeutics has a twelve month low of $1.33 and a twelve month high of $3.10. The stock has a market cap of $170.16 million, a price-to-earnings ratio of -3.51 and a beta of 0.06.

ProQR Therapeutics (NASDAQ:PRQR) last announced its quarterly earnings results on Thursday, August 13th. The biopharmaceutical company reported ($0.09) EPS for the quarter, topping the consensus estimate of ($0.13) by $0.04. ProQR Therapeutics had a negative net margin of 223.51% and a negative return on equity of 73.83%. The company had revenue of $10.00 million for the quarter, compared to analyst estimates of $4.56 million. On average, equities analysts predict that ProQR Therapeutics will post -0.45 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Daniel de Boer purchased 150,000 shares of ProQR Therapeutics stock in a transaction on Thursday, July 9th. The stock was purchased at an average cost of $1.74 per share, with a total value of $261,000.00. Following the acquisition, the chief executive officer directly owned 300,000 shares in the company, valued at approximately $522,000. This trade represents a 100.00% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Bart Filius purchased 150,000 shares of ProQR Therapeutics stock in a transaction on Friday, July 17th. The stock was bought at an average cost of $1.72 per share, with a total value of $258,000.00. Following the completion of the acquisition, the director owned 300,000 shares in the company, valued at approximately $516,000. This trade represents a 100.00% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased a total of 450,000 shares of company stock worth $757,500 over the last quarter. 8.40% of the stock is currently owned by company insiders.

Institutional Trading of ProQR Therapeutics

A number of hedge funds have recently bought and sold shares of PRQR. RFG Advisory LLC boosted its holdings in ProQR Therapeutics by 236.8% in the 2nd quarter. RFG Advisory LLC now owns 64,000 shares of the biopharmaceutical company’s stock valued at $119,000 after purchasing an additional 45,000 shares during the period. Axiom Investment Management LLC bought a new stake in ProQR Therapeutics in the 1st quarter valued at $53,000. Walleye Capital LLC boosted its holdings in ProQR Therapeutics by 2.7% in the 1st quarter. Walleye Capital LLC now owns 607,529 shares of the biopharmaceutical company’s stock valued at $984,000 after purchasing an additional 15,744 shares during the period. Finally, Bank of America Corp DE boosted its holdings in ProQR Therapeutics by 6.4% in the 1st quarter. Bank of America Corp DE now owns 185,110 shares of the biopharmaceutical company’s stock valued at $300,000 after purchasing an additional 11,186 shares during the period. 32.65% of the stock is owned by institutional investors.

ProQR Therapeutics Company Profile

ProQR Therapeutics N.V. (NASDAQ: PRQR) is a biotechnology company focused on developing RNA-based medicines for genetic and other serious diseases. The company’s research platform is designed to modify RNA and potentially correct disease-causing genetic defects without permanently changing a patient’s DNA.

ProQR has primarily pursued treatments for inherited retinal disorders and other conditions affecting the eye. Its pipeline has included investigational RNA therapies such as sepofarsen, developed for Leber congenital amaurosis type 10, and ultevursen, developed for Usher syndrome type 2A.