Proteon Therapeutics, Inc. (NASDAQ:PRTO) Rating Increased to Strong-Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Proteon Therapeutics, Inc. (NASDAQ:PRTO) from a hold rating to a strong-buy rating in a research note issued to investors on Tuesday, October 17th. They currently have $2.50 price target on the biopharmaceutical company’s stock.

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. “

PRTO has been the topic of a number of other research reports. HC Wainwright set a $2.00 price target on Proteon Therapeutics and gave the stock a hold rating in a research report on Wednesday, August 9th. Oppenheimer Holdings, Inc. reissued a market perform rating on shares of Proteon Therapeutics in a research report on Wednesday, August 16th. Finally, Cowen and Company reissued a hold rating on shares of Proteon Therapeutics in a research report on Tuesday, August 8th. Nine equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Proteon Therapeutics has an average rating of Hold and an average price target of $6.25.

Shares of Proteon Therapeutics (NASDAQ PRTO) traded up $0.10 during trading hours on Tuesday, hitting $2.10. 19,727 shares of the stock traded hands, compared to its average volume of 55,607.

Proteon Therapeutics (NASDAQ:PRTO) last posted its earnings results on Monday, August 7th. The biopharmaceutical company reported ($0.33) EPS for the quarter, beating the consensus estimate of ($0.44) by $0.11. equities analysts predict that Proteon Therapeutics will post -1.54 EPS for the current fiscal year.

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A hedge fund recently bought a new stake in Proteon Therapeutics stock. RA Capital Management LLC purchased a new stake in Proteon Therapeutics, Inc. (NASDAQ:PRTO) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 1,337,462 shares of the biopharmaceutical company’s stock, valued at approximately $2,040,000. Proteon Therapeutics comprises approximately 0.2% of RA Capital Management LLC’s portfolio, making the stock its 22nd largest holding. RA Capital Management LLC owned 7.59% of Proteon Therapeutics as of its most recent filing with the Securities and Exchange Commission. Institutional investors own 47.07% of the company’s stock.

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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Analyst Recommendations for Proteon Therapeutics (NASDAQ:PRTO)

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