ProQR Therapeutics (NASDAQ:PRQR) Earns “Buy” Rating from Chardan Capital

ProQR Therapeutics (NASDAQ:PRQR)‘s stock had its “buy” rating reiterated by analysts at Chardan Capital in a research report issued to clients and investors on Thursday,Benzinga reports. They currently have a $4.00 price objective on the biopharmaceutical company’s stock. Chardan Capital’s price target would indicate a potential upside of 118.58% from the stock’s current price.

Other equities analysts have also issued reports about the company. Wall Street Zen raised ProQR Therapeutics from a “strong sell” rating to a “hold” rating in a report on Saturday, March 14th. Oppenheimer assumed coverage on ProQR Therapeutics in a report on Thursday, March 12th. They issued an “outperform” rating and a $9.00 target price for the company. Citigroup reaffirmed a “market outperform” rating on shares of ProQR Therapeutics in a report on Friday, March 13th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ProQR Therapeutics in a report on Thursday, January 22nd. Six analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $6.80.

ProQR Therapeutics Price Performance

NASDAQ:PRQR opened at $1.83 on Thursday. The firm has a 50-day moving average of $1.60 and a 200-day moving average of $1.99. The company has a market cap of $192.81 million, a PE ratio of -3.98 and a beta of 0.10. ProQR Therapeutics has a one year low of $1.07 and a one year high of $3.10.

ProQR Therapeutics (NASDAQ:PRQR) last issued its quarterly earnings data on Thursday, March 12th. The biopharmaceutical company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.01). The firm had revenue of $5.53 million during the quarter, compared to the consensus estimate of $6.12 million. ProQR Therapeutics had a negative return on equity of 65.89% and a negative net margin of 255.83%. On average, equities research analysts expect that ProQR Therapeutics will post -0.31 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PRQR. Osaic Holdings Inc. boosted its stake in ProQR Therapeutics by 59.6% in the second quarter. Osaic Holdings Inc. now owns 12,050 shares of the biopharmaceutical company’s stock valued at $25,000 after acquiring an additional 4,500 shares during the last quarter. Guggenheim Capital LLC purchased a new position in ProQR Therapeutics in the fourth quarter valued at about $35,000. Moody Lynn & Lieberson LLC purchased a new position in ProQR Therapeutics in the fourth quarter valued at about $50,000. Invesco Ltd. purchased a new position in ProQR Therapeutics in the fourth quarter valued at about $51,000. Finally, Fifth Third Bancorp purchased a new position in ProQR Therapeutics in the third quarter valued at about $64,000. 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.