ProQR Therapeutics (NASDAQ:PRQR) Coverage Initiated at Oppenheimer

Stock analysts at Oppenheimer initiated coverage on shares of ProQR Therapeutics (NASDAQ:PRQR) in a research note issued to investors on Thursday. The brokerage set an “outperform” rating and a $9.00 price target on the biopharmaceutical company’s stock. Oppenheimer’s price target suggests a potential upside of 394.51% from the stock’s current price.

Several other equities analysts have also recently issued reports on PRQR. Weiss Ratings reiterated a “sell (d-)” rating on shares of ProQR Therapeutics in a research report on Thursday, January 22nd. Zacks Research raised ProQR Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 13th. Six investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $6.80.

ProQR Therapeutics Stock Up 5.8%

NASDAQ:PRQR opened at $1.82 on Thursday. The firm’s fifty day simple moving average is $1.64 and its 200 day simple moving average is $2.07. The stock has a market cap of $191.48 million, a P/E ratio of -3.96 and a beta of 0.21. ProQR Therapeutics has a twelve month low of $1.07 and a twelve month high of $3.10.

ProQR Therapeutics (NASDAQ:PRQR) last issued its quarterly earnings data on Thursday, March 12th. The biopharmaceutical company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.01). ProQR Therapeutics had a negative return on equity of 61.64% and a negative net margin of 255.83%.The company had revenue of $5.50 million during the quarter, compared to the consensus estimate of $6.12 million. On average, analysts expect that ProQR Therapeutics will post -0.31 EPS for the current fiscal year.

Institutional Trading of ProQR Therapeutics

Hedge funds have recently modified their holdings of the business. Osaic Holdings Inc. grew its position in shares of ProQR Therapeutics by 59.6% in the 2nd quarter. Osaic Holdings Inc. now owns 12,050 shares of the biopharmaceutical company’s stock worth $25,000 after buying an additional 4,500 shares during the period. Guggenheim Capital LLC bought a new position in shares of ProQR Therapeutics in the 4th quarter worth about $35,000. Moody Lynn & Lieberson LLC purchased a new position in ProQR Therapeutics during the 4th quarter valued at about $50,000. Invesco Ltd. purchased a new position in ProQR Therapeutics during the 4th quarter valued at about $51,000. Finally, Fifth Third Bancorp bought a new stake in ProQR Therapeutics during the third quarter worth about $64,000. Institutional investors own 32.65% of the company’s stock.

ProQR Therapeutics Company Profile

ProQR Therapeutics N.V. is a clinical-stage biotechnology company dedicated to developing RNA-based therapies for severe genetic diseases. Utilizing its proprietary Axiomer® RNA editing platform, ProQR aims to correct disease-causing mutations directly at the messenger RNA level. The company’s pipeline features several investigational candidates, including sepofarsen (formerly QR-110) for Leber congenital amaurosis type 10, QR-421a targeting Usher syndrome and certain forms of retinitis pigmentosa, and QR-313 for dystrophic epidermolysis bullosa.

Founded in 2012 and headquartered in Leiden, the Netherlands, ProQR maintains a significant presence in Cambridge, Massachusetts, to support its clinical research and regulatory initiatives.