Brokerages Set Promis Neurosciences (NASDAQ:PMN) Price Target at $4.33

Promis Neurosciences (NASDAQ:PMN) has been assigned an average rating of “Moderate Buy” from the four ratings firms that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating and three have issued a buy rating on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $4.3333.

A number of research firms recently weighed in on PMN. Wall Street Zen lowered shares of Promis Neurosciences to a “strong sell” rating in a research note on Saturday, October 11th. Leede Financial raised shares of Promis Neurosciences to a “moderate buy” rating in a research report on Monday, July 21st. Weiss Ratings restated a “sell (e+)” rating on shares of Promis Neurosciences in a report on Wednesday, October 8th. Finally, HC Wainwright assumed coverage on shares of Promis Neurosciences in a research note on Monday, July 14th. They set a “buy” rating and a $4.00 target price for the company.

Promis Neurosciences Trading Down 3.0%

Promis Neurosciences stock opened at $0.38 on Wednesday. The firm has a market capitalization of $20.39 million, a P/E ratio of -1.80 and a beta of -0.22. Promis Neurosciences has a twelve month low of $0.36 and a twelve month high of $1.59. The stock’s fifty day simple moving average is $0.45 and its 200-day simple moving average is $0.52.

Promis Neurosciences (NASDAQ:PMN) last released its earnings results on Wednesday, August 13th. The company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.07). Sell-side analysts predict that Promis Neurosciences will post -0.24 earnings per share for the current year.

Institutional Investors Weigh In On Promis Neurosciences

An institutional investor recently raised its position in Promis Neurosciences stock. Allostery Investments LP increased its holdings in shares of Promis Neurosciences (NASDAQ:PMN) by 19.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 233,703 shares of the company’s stock after purchasing an additional 38,592 shares during the quarter. Allostery Investments LP owned approximately 0.71% of Promis Neurosciences worth $165,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 50.13% of the company’s stock.

About Promis Neurosciences

ProMIS Neurosciences, Inc discovers and develops antibody therapies and therapeutic vaccines neurodegenerative diseases and other misfolded protein diseases in Canada. The company’s proprietary discovery platform comprises ProMIS and Collective Coordinates algorithms to predict novel targets known as disease specific epitopes on the molecular surface of misfolded proteins.