Promis Neurosciences (NASDAQ:PMN) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Promis Neurosciences (NASDAQ:PMN) have received an average rating of “Moderate Buy” from the four research firms that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, two have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $26.50.

A number of equities analysts recently weighed in on PMN shares. Brookline Capital Markets upgraded shares of Promis Neurosciences to a “strong-buy” rating in a research report on Wednesday, May 20th. Guggenheim lowered their price target on shares of Promis Neurosciences from $125.00 to $35.00 and set a “buy” rating on the stock in a research report on Friday, February 6th. Finally, Wall Street Zen upgraded shares of Promis Neurosciences from a “strong sell” rating to a “sell” rating in a research report on Sunday.

Promis Neurosciences Trading Down 0.6%

PMN opened at $10.81 on Friday. The firm has a market capitalization of $96.97 million, a PE ratio of -0.75 and a beta of -0.20. Promis Neurosciences has a twelve month low of $6.27 and a twelve month high of $39.75. The firm’s 50-day moving average price is $11.99 and its 200 day moving average price is $12.02.

Promis Neurosciences (NASDAQ:PMN) last posted its quarterly earnings results on Tuesday, May 12th. The company reported ($1.26) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.06) by ($0.20).

Insider Transactions at Promis Neurosciences

In other Promis Neurosciences news, Director Eugene Williams purchased 2,000 shares of the stock in a transaction that occurred on Wednesday, March 4th. The shares were purchased at an average cost of $24.00 per share, for a total transaction of $48,000.00. Following the completion of the transaction, the director owned 12,397 shares of the company’s stock, valued at $297,528. The trade was a 19.24% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Patrick D. Kirwin bought 4,000 shares of the firm’s stock in a transaction on Wednesday, April 22nd. The stock was purchased at an average price of $11.33 per share, for a total transaction of $45,320.00. Following the completion of the acquisition, the director directly owned 4,653 shares in the company, valued at $52,718.49. The trade was a 612.56% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased 7,000 shares of company stock worth $115,850 over the last 90 days. 1.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Promis Neurosciences

Institutional investors and hedge funds have recently bought and sold shares of the company. ADAR1 Capital Management LLC acquired a new position in Promis Neurosciences in the 1st quarter valued at about $1,211,000. Citadel Advisors LLC boosted its holdings in Promis Neurosciences by 168.1% in the 3rd quarter. Citadel Advisors LLC now owns 170,079 shares of the company’s stock valued at $72,000 after purchasing an additional 106,650 shares during the last quarter. Yu Fan acquired a new position in Promis Neurosciences in the 1st quarter valued at about $4,188,000. Ally Bridge Group NY LLC boosted its holdings in Promis Neurosciences by 66.1% in the 1st quarter. Ally Bridge Group NY LLC now owns 414,219 shares of the company’s stock valued at $5,261,000 after purchasing an additional 164,880 shares during the last quarter. Finally, Janus Henderson Group PLC acquired a new position in Promis Neurosciences in the 1st quarter valued at about $16,418,000. 50.13% of the stock is currently owned by institutional investors and hedge funds.

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.