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

ProQR Therapeutics (NASDAQ:PRQR) had its price target dropped 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 would suggest a potential upside of 389.30% from the stock’s current price.

PRQR has been the subject of a number of other research reports. Citigroup reiterated a “market outperform” rating on shares of ProQR Therapeutics in a research note on Thursday. Wall Street Zen upgraded ProQR Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Saturday, August 15th. Chardan Capital reduced their price objective on ProQR Therapeutics from $4.00 to $3.00 and set a “buy” rating for the company in a research note on Friday, June 26th. Bank of America began coverage on ProQR Therapeutics in a research note on Thursday, August 20th. They set a “buy” rating and a $8.00 price objective for the company. Finally, Weiss Ratings upgraded ProQR Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, August 14th. Six analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $7.60.

ProQR Therapeutics Stock Up 0.3%

Shares of PRQR traded up $0.01 during trading hours on Thursday, reaching $1.64. 622,637 shares of the company traded hands, compared to its average volume of 736,440. The stock has a market capitalization of $172.26 million, a P/E ratio of -3.55 and a beta of 0.20. ProQR Therapeutics has a 12-month low of $1.33 and a 12-month high of $3.10. The business has a fifty day moving average price of $1.94 and a 200-day moving average price of $1.76.

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

Insider Transactions at ProQR Therapeutics

In other news, Director Bart Filius acquired 150,000 shares of the firm’s stock in a transaction on Friday, July 17th. The stock was acquired at an average price of $1.72 per share, for a total transaction of $258,000.00. Following the completion of the transaction, the director owned 300,000 shares in the company, valued at approximately $516,000. The trade was a 100.00% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Daniel de Boer acquired 150,000 shares of the firm’s stock in a transaction on Thursday, July 9th. The stock was purchased at an average price of $1.74 per share, with a total value of $261,000.00. Following the transaction, the chief executive officer owned 300,000 shares of the company’s stock, valued at approximately $522,000. This trade represents a 100.00% increase in their position. The SEC filing for this purchase provides additional information. In the last quarter, insiders acquired 450,000 shares of company stock valued at $757,500. Insiders own 8.40% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. RFG Advisory LLC raised its position in shares of ProQR Therapeutics by 236.8% in the second quarter. RFG Advisory LLC now owns 64,000 shares of the biopharmaceutical company’s stock worth $119,000 after acquiring an additional 45,000 shares during the period. Bank of America Corp DE increased 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 worth $300,000 after purchasing an additional 11,186 shares in the last quarter. Axiom Investment Management LLC purchased a new stake in shares of ProQR Therapeutics during the first quarter worth about $53,000. Finally, Walleye Capital LLC increased its stake 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 in the last quarter. Institutional investors and hedge funds own 32.65% of the company’s stock.

ProQR Therapeutics Company Profile

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.