Zacks Investment Research downgraded shares of ProQR Therapeutics (NASDAQ:PRQR) from a buy rating to a hold rating in a research report report published on Tuesday morning.

According to Zacks, “ProQR Therapeutics B.V. is a biotech company. It is engaged in the discovery and development of RNA-based therapeutics for the treatment of severe genetic disorders, with an initial focus on Cystic Fibrosis (CF). The Company’s lead product candidate includes QR-010, a RNA-based oligonucleotide for the treatment of cystic fibrosis. ProQR Therapeutics B.V. is headquartered in Leiden, the Netherlands. “

Several other equities analysts have also issued reports on PRQR. ValuEngine upgraded shares of ProQR Therapeutics from a hold rating to a buy rating in a report on Thursday, May 17th. HC Wainwright reiterated a buy rating on shares of ProQR Therapeutics in a report on Monday, July 2nd. Finally, Chardan Capital reiterated a buy rating and set a $9.00 target price on shares of ProQR Therapeutics in a report on Monday, August 13th. One analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus price target of $13.80.

PRQR stock opened at $20.80 on Tuesday. ProQR Therapeutics has a 52-week low of $2.75 and a 52-week high of $22.60. The company has a market cap of $713.12 million, a PE ratio of -9.51 and a beta of 0.63. The company has a quick ratio of 4.02, a current ratio of 4.02 and a debt-to-equity ratio of 0.26.

ProQR Therapeutics (NASDAQ:PRQR) last released its earnings results on Wednesday, August 8th. The biopharmaceutical company reported ($0.27) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.42) by $0.15. sell-side analysts predict that ProQR Therapeutics will post -1.38 EPS for the current year.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. raised its holdings in ProQR Therapeutics by 519.0% in the 1st quarter. JPMorgan Chase & Co. now owns 33,425 shares of the biopharmaceutical company’s stock worth $103,000 after acquiring an additional 28,025 shares during the last quarter. Ardsley Advisory Partners purchased a new position in ProQR Therapeutics in the 2nd quarter worth approximately $365,000. Essex Investment Management Co. LLC purchased a new position in ProQR Therapeutics in the 2nd quarter worth approximately $604,000. Franklin Street Advisors Inc. NC raised its holdings in ProQR Therapeutics by 50.0% in the 2nd quarter. Franklin Street Advisors Inc. NC now owns 90,000 shares of the biopharmaceutical company’s stock worth $657,000 after acquiring an additional 30,000 shares during the last quarter. Finally, Millennium Management LLC purchased a new position in ProQR Therapeutics in the 2nd quarter worth approximately $1,426,000. Institutional investors own 34.75% of the company’s stock.

About ProQR Therapeutics

ProQR Therapeutics N.V., a biopharmaceutical company, engages in the discovery and development of RNA-based therapeutics for the treatment of genetic disorders. Its lead product candidates include eluforsen, a RNA-based oligonucleotide used for the treatment of cystic fibrosis; QR-110, an oligonucleotide that is designed to treat Leber's congenital amaurosis; QR-313, a dermatology candidate for the treatment of epidermolysis bullosa; and QR-421a and QR-411 to treat type 2A Usher syndrome.

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