Promis Neurosciences (NASDAQ:PMN) Announces Quarterly Earnings Results, Beats Estimates By $0.10 EPS

Promis Neurosciences (NASDAQ:PMN) announced its earnings results on Thursday. The company reported ($1.28) earnings per share for the quarter, beating the consensus estimate of ($1.38) by $0.10, FiscalAI reports.

Here are the key takeaways from Promis Neurosciences’ conference call:

• PMN310 showed an encouraging interim safety profile in the Phase 1b PRECISE-AD study, with zero cases of ARIA-E across all genotypes, including ApoE4 homozygotes, and no treatment-related serious events or discontinuations.
• Blinded six-month biomarker results showed approximately 15% and 13.3% declines in plasma p-tau217 and CSF MTBR-tau243, respectively, which management views as early evidence of target engagement; however, the data are exploratory and do not establish efficacy.
• The company expects all PRECISE-AD patients to complete 12 months of dosing in the fourth quarter of 2026 and plans to report unblinded top-line safety, biomarker, and cognitive data in the first quarter of 2027.
• ProMIS ended the quarter with approximately CAD 53.4 million in cash and short-term investments and expects its current resources to fund operations through 2027, including the anticipated PRECISE-AD readout.
• The company is advancing PMN267 for ALS and PMN442 for synucleinopathies toward IND-enabling studies, while also developing a subcutaneous PMN310 formulation and evaluating potential strategic partnerships or financing options for future trials.

Promis Neurosciences Stock Up 0.5%

PMN opened at $14.86 on Friday. Promis Neurosciences has a 12-month low of $6.27 and a 12-month high of $27.40. The firm has a market capitalization of $133.29 million, a P/E ratio of -1.02 and a beta of -0.23. The stock has a fifty day moving average of $12.75 and a 200-day moving average of $13.61.

Institutional Trading of Promis Neurosciences

A hedge fund recently raised its stake in Promis Neurosciences stock. Armistice Capital LLC grew its stake in Promis Neurosciences (NASDAQ:PMN) by 39.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,974,518 shares of the company’s stock after purchasing an additional 836,622 shares during the period. Armistice Capital LLC owned about 5.53% of Promis Neurosciences worth $1,264,000 as of its most recent SEC filing. 50.13% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Guggenheim reissued a “buy” rating and set a $69.00 target price (up from $35.00) on shares of Promis Neurosciences in a research note on Tuesday, July 28th. Brookline Capital Markets upgraded Promis Neurosciences to a “strong-buy” rating in a research report on Wednesday, May 20th. Weiss Ratings cut Promis Neurosciences from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, June 11th. Wall Street Zen raised Promis Neurosciences from a “strong sell” rating to a “sell” rating in a report on Saturday, July 18th. Finally, Roth Capital initiated coverage on Promis Neurosciences in a research note on Tuesday, July 7th. They issued a “buy” rating and a $19.00 price target on the stock. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $31.50.

About Promis Neurosciences

Promis Neurosciences, Inc is a clinical?stage biopharmaceutical company focused on the discovery and development of novel therapeutics for central nervous system disorders. The company’s research programs target cognitive impairment and other neurological symptoms associated with diseases such as Alzheimer’s disease and multiple sclerosis.

Leveraging a proprietary small?molecule discovery platform, Promis Neurosciences advances both preclinical and early clinical candidates designed to modulate neural pathways involved in memory, learning and neuroinflammation.