Promis Neurosciences (NASDAQ:PMN) Stock Price Expected to Rise, Guggenheim Analyst Says

Promis Neurosciences (NASDAQ:PMN) had its price target lifted by investment analysts at Guggenheim from $69.00 to $100.00 in a research note issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock.

Other analysts have also issued research reports about the company. Weiss Ratings lowered Promis Neurosciences from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, June 11th. Wall Street Zen upgraded Promis Neurosciences from a “strong sell” rating to a “sell” rating in a research note on Saturday, July 18th. Cantor Fitzgerald assumed coverage on shares of Promis Neurosciences in a report on Tuesday, June 30th. They set an “overweight” rating on the stock. Roth Capital started coverage on shares of Promis Neurosciences in a research note on Tuesday, July 7th. They issued a “buy” rating and a $19.00 price objective for the company. Finally, Chardan Capital set a $20.00 target price on Promis Neurosciences and gave the stock a “buy” rating in a research report on Monday, July 27th. 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.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $39.25.

Promis Neurosciences Stock Up 0.9%

Promis Neurosciences stock opened at $14.93 on Friday. The company has a market cap of $133.92 million, a P/E ratio of -1.01 and a beta of -0.23. The business has a 50-day simple moving average of $12.64 and a two-hundred day simple moving average of $13.60. Promis Neurosciences has a 52-week low of $6.27 and a 52-week high of $27.40.

Promis Neurosciences (NASDAQ:PMN) last released its quarterly earnings results on Thursday, August 13th. The company reported ($1.28) earnings per share for the quarter, topping the consensus estimate of ($1.38) by $0.10. Research analysts anticipate that Promis Neurosciences will post -5.08 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Citadel Advisors LLC increased its stake in Promis Neurosciences by 168.1% during the third quarter. Citadel Advisors LLC now owns 170,079 shares of the company’s stock worth $72,000 after acquiring an additional 106,650 shares during the last quarter. Seven Fleet Capital Management LP bought a new stake in shares of Promis Neurosciences in the 1st quarter valued at approximately $135,000. ADAR1 Capital Management LLC purchased a new position in shares of Promis Neurosciences in the 1st quarter worth approximately $1,211,000. Armistice Capital LLC boosted its holdings in shares of Promis Neurosciences by 39.1% in the 3rd quarter. Armistice Capital LLC now owns 2,974,518 shares of the company’s stock worth $1,264,000 after purchasing an additional 836,622 shares during the period. Finally, Yu Fan bought a new position in shares of Promis Neurosciences during the 1st quarter valued at approximately $4,188,000. Institutional investors own 50.13% of the company’s stock.

Promis Neurosciences Company Profile

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.