ProQR Therapeutics (NASDAQ:PRQR) Rating Lowered to Strong Sell at Wall Street Zen

ProQR Therapeutics (NASDAQ:PRQR) was downgraded by equities researchers at Wall Street Zen from a “hold” rating to a “strong sell” rating in a report issued on Saturday.

Several other analysts also recently commented on PRQR. Weiss Ratings restated a “sell (d-)” rating on shares of ProQR Therapeutics in a research report on Tuesday, April 21st. Oppenheimer initiated coverage on ProQR Therapeutics in a report on Thursday, March 12th. They set an “outperform” rating and a $9.00 price target on the stock. Citigroup restated a “market outperform” rating on shares of ProQR Therapeutics in a research report on Friday, March 13th. Finally, Chardan Capital reiterated a “buy” rating and set a $4.00 target price on shares of ProQR Therapeutics in a research report on Thursday, April 9th. Six equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $7.25.

ProQR Therapeutics Stock Performance

NASDAQ:PRQR opened at $1.59 on Friday. The stock has a 50-day simple moving average of $1.70 and a two-hundred day simple moving average of $1.86. The firm has a market capitalization of $167.52 million, a PE ratio of -3.18 and a beta of 0.08. ProQR Therapeutics has a 52-week low of $1.33 and a 52-week high of $3.10.

ProQR Therapeutics (NASDAQ:PRQR) last posted its quarterly earnings data on Tuesday, May 12th. The biopharmaceutical company reported ($0.15) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.15). ProQR Therapeutics had a negative return on equity of 84.87% and a negative net margin of 331.33%.The firm had revenue of $2.35 million for the quarter, compared to analysts’ expectations of $5.19 million. Equities analysts forecast that ProQR Therapeutics will post -0.57 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ProQR Therapeutics

Hedge funds have recently made changes to their positions in the company. Aberdeen Group plc increased its position in ProQR Therapeutics by 24.2% in the third quarter. Aberdeen Group plc now owns 2,298,823 shares of the biopharmaceutical company’s stock worth $4,896,000 after purchasing an additional 448,475 shares during the last quarter. Privium Fund Management B.V. raised its stake in ProQR Therapeutics by 7.2% during the fourth quarter. Privium Fund Management B.V. now owns 5,357,762 shares of the biopharmaceutical company’s stock valued at $10,823,000 after purchasing an additional 359,475 shares in the last quarter. Osaic Holdings Inc. lifted its position in ProQR Therapeutics by 59.6% during the second quarter. Osaic Holdings Inc. now owns 12,050 shares of the biopharmaceutical company’s stock valued at $25,000 after purchasing an additional 4,500 shares during the last quarter. BNP Paribas Financial Markets lifted its position in ProQR Therapeutics by 28.4% during the second quarter. BNP Paribas Financial Markets now owns 121,494 shares of the biopharmaceutical company’s stock valued at $248,000 after purchasing an additional 26,893 shares during the last quarter. Finally, Bank of America Corp DE grew its stake in shares of ProQR Therapeutics by 25.7% in the 2nd quarter. Bank of America Corp DE now owns 119,198 shares of the biopharmaceutical company’s stock worth $243,000 after buying an additional 24,347 shares in the last quarter. 32.65% of the stock is currently owned by hedge funds and other institutional investors.

About ProQR Therapeutics

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.