Promis Neurosciences (NASDAQ:PMN) Posts Earnings Results, Beats Estimates By $0.10 EPS

Promis Neurosciences (NASDAQ:PMN) posted its quarterly earnings data on Thursday. The company reported ($1.28) EPS for the quarter, topping analysts’ consensus estimates of ($1.38) by $0.10, FiscalAI reports.

Here are the key takeaways from Promis Neurosciences’ conference call:

• PMN310 showed an encouraging interim safety profile in the Phase 1b PRECISE-AD study, with zero cases of ARIA-E across all genotypes, including ApoE4 homozygotes, and no treatment-related serious events or discontinuations.
• Blinded six-month biomarker results showed approximately 15% and 13.3% declines in plasma p-tau217 and CSF MTBR-tau243, respectively, which management views as early evidence of target engagement; however, the data are exploratory and do not establish efficacy.
• The company expects all PRECISE-AD patients to complete 12 months of dosing in the fourth quarter of 2026 and plans to report unblinded top-line safety, biomarker, and cognitive data in the first quarter of 2027.
• ProMIS ended the quarter with approximately CAD 53.4 million in cash and short-term investments and expects its current resources to fund operations through 2027, including the anticipated PRECISE-AD readout.
• The company is advancing PMN267 for ALS and PMN442 for synucleinopathies toward IND-enabling studies, while also developing a subcutaneous PMN310 formulation and evaluating potential strategic partnerships or financing options for future trials.

Promis Neurosciences Stock Performance

Shares of Promis Neurosciences stock traded up $0.29 on Thursday, reaching $14.79. 14,658 shares of the company’s stock were exchanged, compared to its average volume of 110,752. The company has a market capitalization of $132.64 million, a P/E ratio of -1.02 and a beta of -0.23. Promis Neurosciences has a 52 week low of $6.27 and a 52 week high of $27.40. The firm’s 50-day moving average is $12.54 and its two-hundred day moving average is $13.56.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Cantor Fitzgerald started coverage on shares of Promis Neurosciences in a research report on Tuesday, June 30th. They set an “overweight” rating for the company. Brookline Capital Markets raised shares of Promis Neurosciences to a “strong-buy” rating in a research note on Wednesday, May 20th. Wall Street Zen upgraded shares of Promis Neurosciences from a “strong sell” rating to a “sell” rating in a research report on Saturday, July 18th. Chardan Capital set a $20.00 target price on shares of Promis Neurosciences and gave the stock a “buy” rating in a research note on Monday, July 27th. Finally, HC Wainwright restated a “buy” rating on shares of Promis Neurosciences in a report on Wednesday, July 15th. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $31.50.

Institutional Inflows and Outflows

A hedge fund recently raised its position in Promis Neurosciences stock. Armistice Capital LLC boosted its stake in Promis Neurosciences (NASDAQ:PMN) by 39.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,974,518 shares of the company’s stock after purchasing an additional 836,622 shares during the quarter. Armistice Capital LLC owned about 5.53% of Promis Neurosciences worth $1,264,000 as of its most recent SEC filing. 50.13% of the stock is currently owned by hedge funds and other 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.