Zacks Investment Research downgraded shares of Proteon Therapeutics, Inc. (NASDAQ:PRTO) from a hold rating to a strong sell rating in a research report released on Saturday morning.
According to Zacks, “Proteon Therapeutics Inc. is a biopharmaceutical company. The Company is developing pharmaceuticals to address the medical needs of patients with kidney and vascular diseases. It is developing PRT-201, a recombinant human elastase, applied in a single treatment to the external surface of arteries and veins during an open surgical procedure or an endovascular intervention. Proteon Therapeutics Inc. is headquartered in Waltham, Mass. “
Several other research firms have also weighed in on PRTO. Cowen and Company reissued a hold rating on shares of Proteon Therapeutics in a research note on Tuesday, August 8th. HC Wainwright restated a hold rating and issued a $2.30 target price on shares of Proteon Therapeutics in a report on Wednesday, November 8th. Finally, Oppenheimer Holdings, Inc. restated a market perform rating on shares of Proteon Therapeutics in a report on Wednesday, August 16th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company. The company presently has an average rating of Hold and a consensus price target of $6.13.
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An institutional investor recently bought a new position in Proteon Therapeutics stock. RA Capital Management LLC bought a new stake in Proteon Therapeutics, Inc. (NASDAQ:PRTO) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,337,462 shares of the biopharmaceutical company’s stock, valued at approximately $2,040,000. Proteon Therapeutics makes up approximately 0.2% of RA Capital Management LLC’s investment portfolio, making the stock its 22nd largest position. RA Capital Management LLC owned approximately 7.59% of Proteon Therapeutics as of its most recent SEC filing. Institutional investors own 49.93% of the company’s stock.
Proteon Therapeutics Company Profile
Proteon Therapeutics, Inc is a late-stage biopharmaceutical company, which focuses on the development of pharmaceuticals to address the needs of patients with renal and vascular disease. The Company is involved in research and development activities. The Company’s product candidate, product candidate, vonapanitase, formerly PRT-201, is a recombinant human elastase that it is developing to manage vascular access failure in patients with chronic kidney disease undergoing or planning for hemodialysis, a lifesaving treatment that cannot be conducted without a functioning vascular access.
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