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

ProQR Therapeutics (NASDAQ:PRQR) had its price target lowered by investment analysts at HC Wainwright to $8.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the biopharmaceutical company’s stock. HC Wainwright’s target price indicates a potential upside of 401.88% from the stock’s current price.

A number of other brokerages have also recently commented on PRQR. Weiss Ratings upgraded ProQR Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, August 14th. Bank of America began coverage on ProQR Therapeutics in a research report on Thursday, August 20th. They issued a “buy” rating and a $8.00 price target on the stock. JonesTrading decreased their price target on ProQR Therapeutics from $11.00 to $10.00 and set a “buy” rating on the stock in a research report on Friday, June 26th. Wall Street Zen upgraded ProQR Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Saturday, August 15th. Finally, Chardan Capital decreased their price target on ProQR Therapeutics from $4.00 to $3.00 and set a “buy” rating on the stock in a research report on Friday, June 26th. Six analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, ProQR Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $7.60.

ProQR Therapeutics Stock Down 4.0%

Shares of PRQR traded down $0.07 during midday trading on Thursday, reaching $1.59. 430,727 shares of the stock were exchanged, compared to its average volume of 727,564. ProQR Therapeutics has a twelve month low of $1.33 and a twelve month high of $3.10. The company has a market cap of $167.94 million, a P/E ratio of -3.46 and a beta of 0.06. The stock’s 50 day simple moving average is $1.94 and its 200 day simple moving average is $1.76.

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

Insider Transactions at ProQR Therapeutics

In other news, CEO Daniel de Boer purchased 150,000 shares of the business’s stock in a transaction dated Thursday, July 9th. The shares were purchased at an average cost of $1.74 per share, with a total value of $261,000.00. Following the completion of the purchase, the chief executive officer owned 300,000 shares of the company’s stock, valued at $522,000. This trade represents a 100.00% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, Director Bart Filius purchased 150,000 shares of the business’s stock in a transaction dated Friday, July 17th. The shares were purchased at an average cost of $1.72 per share, for a total transaction of $258,000.00. Following the completion of the purchase, the director directly owned 300,000 shares of the company’s stock, valued at approximately $516,000. This represents a 100.00% increase in their position. The SEC filing for this purchase provides additional information. Insiders have bought 450,000 shares of company stock worth $757,500 over the last three months. Insiders own 8.40% of the company’s stock.

Institutional Trading of ProQR Therapeutics

Hedge funds have recently made changes to their positions in the company. Axiom Investment Management LLC acquired a new stake in shares of ProQR Therapeutics during the first quarter valued at about $53,000. RFG Advisory LLC boosted its stake in shares of ProQR Therapeutics by 236.8% during the second 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 in the last quarter. Bank of America Corp DE boosted its stake in shares of ProQR Therapeutics by 6.4% during the first 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 in the last quarter. Finally, Walleye Capital LLC lifted its stake in shares of ProQR Therapeutics by 2.7% in the first quarter. Walleye Capital LLC now owns 607,529 shares of the biopharmaceutical company’s stock worth $984,000 after acquiring an additional 15,744 shares during the period. 32.65% of the stock is owned by institutional investors and hedge funds.

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.