Oppenheimer Initiates Coverage on ProQR Therapeutics (NASDAQ:PRQR)

Oppenheimer assumed coverage on shares of ProQR Therapeutics (NASDAQ:PRQR) in a research note issued to investors on Friday morning, Marketbeat reports. The firm issued an outperform rating and a $15.00 price objective on the biopharmaceutical company’s stock.

Several other research analysts also recently weighed in on PRQR. HC Wainwright reaffirmed a “buy” rating and set a $10.00 price target on shares of ProQR Therapeutics in a report on Thursday, December 12th. Raymond James upgraded ProQR Therapeutics from an “outperform” rating to a “strong-buy” rating and raised their target price for the company from $6.00 to $14.00 in a research note on Tuesday, October 29th. Chardan Capital reissued a “buy” rating and issued a $4.00 price target on shares of ProQR Therapeutics in a report on Thursday, December 12th. JMP Securities restated a “market outperform” rating and set a $8.00 price objective on shares of ProQR Therapeutics in a report on Thursday, December 12th. Finally, StockNews.com cut ProQR Therapeutics from a “hold” rating to a “sell” rating in a research note on Thursday, November 28th. One analyst has rated the stock with a sell rating, five have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $8.83.

ProQR Therapeutics Stock Performance

ProQR Therapeutics stock opened at $2.42 on Friday. ProQR Therapeutics has a one year low of $1.61 and a one year high of $4.62. The stock’s 50 day moving average price is $3.23 and its 200 day moving average price is $2.51. The firm has a market capitalization of $197.67 million, a PE ratio of -7.56 and a beta of 0.30.

Hedge Funds Weigh In On ProQR Therapeutics

Several large investors have recently added to or reduced their stakes in PRQR. OneDigital Investment Advisors LLC increased its stake in ProQR Therapeutics by 37.0% during the third quarter. OneDigital Investment Advisors LLC now owns 57,550 shares of the biopharmaceutical company’s stock valued at $105,000 after purchasing an additional 15,550 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of ProQR Therapeutics by 14.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 58,801 shares of the biopharmaceutical company’s stock valued at $107,000 after buying an additional 7,300 shares during the period. Finally, Privium Fund Management B.V. grew its position in shares of ProQR Therapeutics by 0.9% during the 3rd quarter. Privium Fund Management B.V. now owns 5,632,388 shares of the biopharmaceutical company’s stock valued at $10,251,000 after buying an additional 51,663 shares during the last quarter. 32.65% of the stock is currently owned by institutional investors.

About ProQR Therapeutics

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).