Promis Neurosciences (NASDAQ:PMN) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Promis Neurosciences (NASDAQ:PMN) have received a consensus recommendation of “Moderate Buy” from the eight ratings firms that are covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, four have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $34.00.

PMN has been the topic of several research analyst reports. HC Wainwright reaffirmed a “buy” rating on shares of Promis Neurosciences in a research report on Wednesday, July 15th. Zacks Research upgraded shares of Promis Neurosciences to a “hold” rating in a research report on Tuesday, June 9th. Wall Street Zen raised shares of Promis Neurosciences from a “strong sell” rating to a “sell” rating in a report on Saturday, July 18th. Brookline Capital Markets upgraded shares of Promis Neurosciences to a “strong-buy” rating in a research report on Wednesday, May 20th. Finally, Guggenheim reiterated a “buy” rating and set a $69.00 price target (up from $35.00) on shares of Promis Neurosciences in a research note on Tuesday, July 28th.

Institutional Investors Weigh In On Promis Neurosciences

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Armistice Capital LLC boosted its stake in shares of Promis Neurosciences by 39.1% during the third quarter. Armistice Capital LLC now owns 2,974,518 shares of the company’s stock worth $1,264,000 after buying an additional 836,622 shares during the period. Janus Henderson Group PLC acquired a new position in Promis Neurosciences in the 1st quarter valued at about $16,418,000. Ally Bridge Group NY LLC raised its stake in Promis Neurosciences by 66.1% during the 1st quarter. Ally Bridge Group NY LLC now owns 414,219 shares of the company’s stock valued at $5,261,000 after acquiring an additional 164,880 shares during the last quarter. Yu Fan purchased a new stake in Promis Neurosciences during the 1st quarter valued at approximately $4,188,000. Finally, Citadel Advisors LLC lifted its position in Promis Neurosciences by 168.1% during the 3rd quarter. Citadel Advisors LLC now owns 170,079 shares of the company’s stock worth $72,000 after acquiring an additional 106,650 shares during the period. 50.13% of the stock is owned by hedge funds and other institutional investors.

Promis Neurosciences Stock Performance

Shares of PMN stock opened at $12.60 on Tuesday. The stock’s 50-day moving average is $13.94 and its two-hundred day moving average is $13.64. The firm has a market cap of $113.02 million, a price-to-earnings ratio of -1.48 and a beta of -0.24. Promis Neurosciences has a 1 year low of $6.27 and a 1 year high of $27.40.

Promis Neurosciences (NASDAQ:PMN) last posted its earnings results on Thursday, August 13th. The company reported ($1.28) EPS for the quarter, topping analysts’ consensus estimates of ($1.38) by $0.10. As a group, research analysts predict that Promis Neurosciences will post -5.14 EPS for the current year.

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.