HC Wainwright Cuts ProQR Therapeutics (NASDAQ:PRQR) Price Target to $8.00

ProQR Therapeutics (NASDAQ:PRQR) had its price target decreased by HC Wainwright to $8.00 in a report released on Thursday, Benzinga reports. The firm presently has a “buy” rating on the biopharmaceutical company’s stock. HC Wainwright’s price objective points to a potential upside of 389.30% from the company’s previous close.

A number of other brokerages also recently issued reports on PRQR. JonesTrading lowered their price objective on ProQR Therapeutics from $11.00 to $10.00 and set a “buy” rating on the stock in a research note on Friday, June 26th. Wall Street Zen upgraded ProQR Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Saturday, August 15th. Citigroup reaffirmed a “market outperform” rating on shares of ProQR Therapeutics in a research report on Thursday. Weiss Ratings upgraded shares of ProQR Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, August 14th. Finally, Chardan Capital decreased their price objective on shares of ProQR Therapeutics from $4.00 to $3.00 and set a “buy” rating on the stock in a research note on Friday, June 26th. Six investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, ProQR Therapeutics presently has a consensus rating of “Moderate Buy” and an average price target of $7.60.

ProQR Therapeutics Price Performance

ProQR Therapeutics stock traded up $0.01 during midday trading on Thursday, hitting $1.64. The company’s stock had a trading volume of 378,121 shares, compared to its average volume of 735,086. The company has a market cap of $172.26 million, a price-to-earnings ratio of -3.55 and a beta of 0.20. ProQR Therapeutics has a 1-year low of $1.33 and a 1-year high of $3.10. The company has a 50-day moving average price of $1.94 and a two-hundred day moving average price of $1.76.

ProQR Therapeutics (NASDAQ:PRQR) last announced its earnings results on Thursday, August 13th. The biopharmaceutical company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.04. ProQR Therapeutics had a negative net margin of 223.51% and a negative return on equity of 73.83%. The firm had revenue of $10.00 million for the quarter, compared to analyst estimates of $4.56 million. Sell-side analysts forecast that ProQR Therapeutics will post -0.45 EPS for the current year.

Insider Buying and Selling at ProQR Therapeutics

In other news, CEO Daniel de Boer acquired 150,000 shares of the business’s stock in a transaction that occurred on Thursday, July 9th. The shares were bought at an average price of $1.74 per share, with a total value of $261,000.00. Following the acquisition, the chief executive officer directly owned 300,000 shares in the company, valued at $522,000. The trade was a 100.00% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Bart Filius acquired 150,000 shares of ProQR Therapeutics stock in a transaction that occurred on Friday, July 17th. The shares were purchased at an average price of $1.72 per share, for a total transaction of $258,000.00. Following the transaction, the director directly owned 300,000 shares in the company, valued at $516,000. The trade was a 100.00% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders have purchased 450,000 shares of company stock worth $757,500. 8.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Axiom Investment Management LLC acquired a new stake in ProQR Therapeutics during the 1st quarter worth approximately $53,000. RFG Advisory LLC raised its stake in shares of ProQR Therapeutics by 236.8% during the second quarter. RFG Advisory LLC now owns 64,000 shares of the biopharmaceutical company’s stock valued at $119,000 after acquiring an additional 45,000 shares during the last quarter. Bank of America Corp DE raised its stake in shares of ProQR Therapeutics by 6.4% during the first quarter. Bank of America Corp DE now owns 185,110 shares of the biopharmaceutical company’s stock valued at $300,000 after acquiring an additional 11,186 shares during the last quarter. Finally, Walleye Capital LLC lifted its holdings in shares of ProQR Therapeutics by 2.7% during the first quarter. Walleye Capital LLC now owns 607,529 shares of the biopharmaceutical company’s stock worth $984,000 after purchasing an additional 15,744 shares during the period. Institutional investors and hedge funds own 32.65% of the company’s stock.

About ProQR Therapeutics

ProQR Therapeutics N.V. (NASDAQ: PRQR) is a biotechnology company focused on developing RNA-based medicines for genetic and other serious diseases. The company’s research platform is designed to modify RNA and potentially correct disease-causing genetic defects without permanently changing a patient’s DNA.

ProQR has primarily pursued treatments for inherited retinal disorders and other conditions affecting the eye. Its pipeline has included investigational RNA therapies such as sepofarsen, developed for Leber congenital amaurosis type 10, and ultevursen, developed for Usher syndrome type 2A.