Promis Neurosciences (NASDAQ:PMN) Upgraded at Chardan Capital

Promis Neurosciences (NASDAQ:PMN) was upgraded by Chardan Capital to a “strong-buy” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Several other analysts have also recently weighed in on PMN. Wall Street Zen raised Promis Neurosciences from a “strong sell” rating to a “sell” rating in a report on Saturday, July 18th. Guggenheim reissued a “buy” rating on shares of Promis Neurosciences in a report on Tuesday. Roth Capital started coverage on shares of Promis Neurosciences in a research report on Tuesday, July 7th. They issued a “buy” rating and a $19.00 price objective on the stock. Zacks Research raised shares of Promis Neurosciences to a “hold” rating in a research note on Tuesday, June 9th. Finally, Weiss Ratings downgraded shares of Promis Neurosciences from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, June 11th. Three investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $23.00.

Promis Neurosciences Stock Performance

Promis Neurosciences stock opened at $14.52 on Monday. The stock has a market cap of $130.22 million, a P/E ratio of -1.00 and a beta of -0.23. Promis Neurosciences has a fifty-two week low of $6.27 and a fifty-two week high of $27.40. The firm’s fifty day moving average price is $11.74 and its 200-day moving average price is $13.10.

Promis Neurosciences (NASDAQ:PMN) last posted its quarterly earnings data on Tuesday, May 12th. The company reported ($1.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.06) by ($0.20). Sell-side analysts predict that Promis Neurosciences will post -5.13 earnings per share for the current year.

Institutional Investors Weigh In On Promis Neurosciences

Hedge funds have recently made changes to their positions in the business. Seven Fleet Capital Management LP bought a new position in shares of Promis Neurosciences during the 1st quarter valued at $135,000. ADAR1 Capital Management LLC bought a new stake in Promis Neurosciences in the first quarter worth $1,211,000. Citadel Advisors LLC boosted its position in Promis Neurosciences by 168.1% during the third quarter. Citadel Advisors LLC now owns 170,079 shares of the company’s stock valued at $72,000 after buying an additional 106,650 shares during the period. Yu Fan purchased a new stake in Promis Neurosciences during the first quarter valued at about $4,188,000. Finally, Ally Bridge Group NY LLC boosted its position in Promis Neurosciences by 66.1% during the first quarter. Ally Bridge Group NY LLC now owns 414,219 shares of the company’s stock valued at $5,261,000 after buying an additional 164,880 shares during the period. 50.13% of the stock is currently owned by institutional investors.

About Promis Neurosciences

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.