Proteon Therapeutics, Inc. (NASDAQ:PRTO) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research report issued on Wednesday, October 18th.
According to Zacks, “Proteon Therapeutics Inc. is a biopharmaceutical company. The Company is developing pharmaceuticals to address the medical needs of patients with kidney and vascular diseases. It is developing PRT-201, a recombinant human elastase, applied in a single treatment to the external surface of arteries and veins during an open surgical procedure or an endovascular intervention. Proteon Therapeutics Inc. is headquartered in Waltham, Mass. “
A number of other analysts have also weighed in on the stock. Oppenheimer Holdings, Inc. reiterated a “market perform” rating on shares of Proteon Therapeutics in a research note on Wednesday, August 16th. HC Wainwright set a $2.00 price target on shares of Proteon Therapeutics and gave the company a “hold” rating in a research note on Wednesday, August 9th. Finally, Cowen and Company reissued a “hold” rating on shares of Proteon Therapeutics in a report on Tuesday, August 8th. Nine analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Proteon Therapeutics presently has an average rating of “Hold” and an average target price of $6.25.
Proteon Therapeutics (NASDAQ:PRTO) remained flat at $$2.00 during midday trading on Wednesday. 34,986 shares of the stock were exchanged, compared to its average volume of 55,607.
Proteon Therapeutics (NASDAQ:PRTO) last issued its quarterly earnings results on Monday, August 7th. The biopharmaceutical company reported ($0.33) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.44) by $0.11. sell-side analysts forecast that Proteon Therapeutics will post -1.54 EPS for the current year.
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A hedge fund recently raised its stake in Proteon Therapeutics stock. Pharmstandard International S.A. grew its position in Proteon Therapeutics, Inc. (NASDAQ:PRTO) by 43.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,667,907 shares of the biopharmaceutical company’s stock after buying an additional 502,563 shares during the quarter. Proteon Therapeutics accounts for approximately 9.7% of Pharmstandard International S.A.’s holdings, making the stock its 3rd biggest holding. Pharmstandard International S.A. owned 9,465,987.51% of Proteon Therapeutics worth $3,336,000 at the end of the most recent quarter. 47.07% of the stock is owned by institutional investors.
About Proteon Therapeutics
Proteon Therapeutics, Inc is a late-stage biopharmaceutical company, which focuses on the development of pharmaceuticals to address the needs of patients with renal and vascular disease. The Company is involved in research and development activities. The Company’s product candidate, product candidate, vonapanitase, formerly PRT-201, is a recombinant human elastase that it is developing to manage vascular access failure in patients with chronic kidney disease undergoing or planning for hemodialysis, a lifesaving treatment that cannot be conducted without a functioning vascular access.
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