ProQR Therapeutics (NASDAQ:PRQR) Given New $8.00 Price Target at HC Wainwright

ProQR Therapeutics (NASDAQ:PRQR) had its price target dropped by research analysts at HC Wainwright to $8.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the biopharmaceutical company’s stock. HC Wainwright’s target price points to a potential upside of 389.30% from the company’s current price.

A number of other research analysts also recently commented on the company. Chardan Capital dropped their price target 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. JonesTrading lowered their price objective on shares of ProQR Therapeutics from $11.00 to $10.00 and set a “buy” rating for the company in a research report on Friday, June 26th. Citigroup restated 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, Bank of America assumed coverage on shares of ProQR Therapeutics in a research report on Thursday, August 20th. They set a “buy” rating and a $8.00 price objective for the company. Six research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price 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 622,532 shares, compared to its average volume of 736,440. 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. 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 (NASDAQ:PRQR) last released its quarterly earnings results 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. ProQR Therapeutics had a negative net margin of 223.51% and a negative return on equity of 73.83%. The company had revenue of $10.00 million during the quarter, compared to the consensus estimate of $4.56 million. Sell-side analysts forecast that ProQR Therapeutics will post -0.45 EPS for the current year.

Insider Buying and Selling

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

Institutional Trading of ProQR Therapeutics

A number of large investors have recently bought and sold shares of PRQR. Axiom Investment Management LLC acquired a new stake in ProQR Therapeutics during the 1st quarter worth about $53,000. RFG Advisory LLC grew its position in shares of ProQR Therapeutics by 236.8% during the 2nd quarter. RFG Advisory LLC now owns 64,000 shares of the biopharmaceutical company’s stock worth $119,000 after buying an additional 45,000 shares during the period. Bank of America Corp DE grew its position in shares of ProQR Therapeutics by 6.4% during the 1st quarter. Bank of America Corp DE now owns 185,110 shares of the biopharmaceutical company’s stock worth $300,000 after buying an additional 11,186 shares during the period. Finally, Walleye Capital LLC grew its position in shares of ProQR Therapeutics by 2.7% during the 1st quarter. Walleye Capital LLC now owns 607,529 shares of the biopharmaceutical company’s stock worth $984,000 after buying an additional 15,744 shares during the period. 32.65% of the stock is currently owned by institutional investors and hedge funds.

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.