ProQR Therapeutics (NASDAQ:PRQR) Upgraded by Raymond James to “Strong-Buy”

ProQR Therapeutics (NASDAQ:PRQR) was upgraded by Raymond James from an “outperform” rating to a “strong-buy” rating in a report released on Tuesday, Briefing.com reports. The brokerage presently has a $14.00 price objective on the biopharmaceutical company’s stock, up from their prior price objective of $6.00. Raymond James’ target price would suggest a potential upside of 322.96% from the company’s current price.

ProQR Therapeutics Trading Down 4.3 %

Shares of PRQR opened at $3.31 on Tuesday. The stock has a 50 day moving average of $2.23 and a 200 day moving average of $2.00. ProQR Therapeutics has a 12 month low of $1.13 and a 12 month high of $4.62. The company has a market capitalization of $270.36 million, a price-to-earnings ratio of -11.41 and a beta of 0.39.

ProQR Therapeutics (NASDAQ:PRQR) last released its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.09. The company had revenue of $6.79 million for the quarter, compared to analysts’ expectations of $3.32 million. ProQR Therapeutics had a negative return on equity of 55.42% and a negative net margin of 140.17%. As a group, equities research analysts predict that ProQR Therapeutics will post -0.31 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. EP Wealth Advisors LLC purchased a new position in ProQR Therapeutics in the first quarter valued at approximately $26,000. Acadian Asset Management LLC bought a new stake in shares of ProQR Therapeutics in the first quarter valued at $56,000. BNP Paribas Financial Markets lifted its position in shares of ProQR Therapeutics by 120.1% during the 1st quarter. BNP Paribas Financial Markets now owns 35,001 shares of the biopharmaceutical company’s stock valued at $80,000 after buying an additional 19,100 shares during the last quarter. Ikarian Capital LLC grew its stake in shares of ProQR Therapeutics by 2.3% during the 1st quarter. Ikarian Capital LLC now owns 483,583 shares of the biopharmaceutical company’s stock worth $1,098,000 after acquiring an additional 10,958 shares during the period. Finally, Privium Fund Management B.V. increased its holdings in ProQR Therapeutics by 4.4% in the 2nd quarter. Privium Fund Management B.V. now owns 5,580,725 shares of the biopharmaceutical company’s stock worth $9,208,000 after acquiring an additional 236,279 shares during the last quarter. 32.65% of the stock is owned by institutional investors.

ProQR Therapeutics Company Profile

ProQR Therapeutics N.V., a biotechnology company, focuses on the discovery and development of novel therapeutic medicines. The company's products pipeline includes AX-0810 for cholestatic diseases targeting Na-taurocholate cotransporting polypeptide (NTCP); and AX-1412 for cardiovascular diseases (CVDs) targeting Beta-1,4-galactosyltransferase 1 (B4GALT1).