Promis Neurosciences (NASDAQ:PMN) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Promis Neurosciences (NASDAQ:PMN) have been assigned a consensus rating of “Moderate Buy” from the eight ratings firms that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $31.50.

A number of equities research analysts have recently commented on the stock. Wall Street Zen upgraded shares of Promis Neurosciences from a “strong sell” rating to a “sell” rating in a report on Saturday, July 18th. Weiss Ratings lowered shares of Promis Neurosciences from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, June 11th. HC Wainwright reaffirmed a “buy” rating on shares of Promis Neurosciences in a research report on Wednesday, July 15th. Zacks Research raised Promis Neurosciences to a “hold” rating in a research report on Tuesday, June 9th. Finally, Chardan Capital set a $20.00 target price on Promis Neurosciences and gave the company a “buy” rating in a research note on Monday, July 27th.

Promis Neurosciences Price Performance

Shares of Promis Neurosciences stock opened at $14.79 on Friday. Promis Neurosciences has a 1 year low of $6.27 and a 1 year high of $27.40. The firm’s 50-day moving average is $12.64 and its 200 day moving average is $13.60. The stock has a market cap of $132.67 million, a price-to-earnings ratio of -1.02 and a beta of -0.23.

Promis Neurosciences (NASDAQ:PMN) last released its quarterly earnings data on Thursday, August 13th. The company reported ($1.28) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.38) by $0.10. On average, equities analysts expect that Promis Neurosciences will post -5.08 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Citadel Advisors LLC boosted its position in shares of Promis Neurosciences by 168.1% during the third quarter. Citadel Advisors LLC now owns 170,079 shares of the company’s stock valued at $72,000 after buying an additional 106,650 shares during the last quarter. Seven Fleet Capital Management LP purchased a new position in Promis Neurosciences in the 1st quarter worth about $135,000. ADAR1 Capital Management LLC purchased a new position in Promis Neurosciences in the 1st quarter worth about $1,211,000. Armistice Capital LLC lifted its stake in Promis Neurosciences by 39.1% during the 3rd quarter. Armistice Capital LLC now owns 2,974,518 shares of the company’s stock valued at $1,264,000 after acquiring an additional 836,622 shares during the period. Finally, Yu Fan bought a new position in Promis Neurosciences during the 1st quarter valued at about $4,188,000. 50.13% of the stock is owned by institutional investors.

Promis Neurosciences Company Profile

Promis Neurosciences, Inc is a clinical?stage biopharmaceutical company focused on the discovery and development of novel therapeutics for central nervous system disorders. The company’s research programs target cognitive impairment and other neurological symptoms associated with diseases such as Alzheimer’s disease and multiple sclerosis.

Leveraging a proprietary small?molecule discovery platform, Promis Neurosciences advances both preclinical and early clinical candidates designed to modulate neural pathways involved in memory, learning and neuroinflammation.