Proteon Therapeutics Inc (PRTO) Downgraded to “Neutral” at HC Wainwright

HC Wainwright downgraded shares of Proteon Therapeutics Inc (NASDAQ:PRTO) from a buy rating to a neutral rating in a report issued on Friday. They currently have $3.00 price target on the biopharmaceutical company’s stock, down from their prior price target of $18.00.

Several other research analysts have also recently issued reports on PRTO. Oppenheimer Holdings Inc. set a $21.00 price objective on Proteon Therapeutics and gave the stock a buy rating in a research note on Thursday, December 1st. Robert W. Baird cut Proteon Therapeutics from an outperform rating to a neutral rating and reduced their price objective for the stock from $20.00 to $3.00 in a research note on Tuesday, December 13th. Stifel Nicolaus cut Proteon Therapeutics from a buy rating to a hold rating and reduced their price objective for the stock from $19.00 to $3.00 in a research note on Wednesday, December 14th. Maxim Group raised their price objective on Proteon Therapeutics from $6.00 to $19.00 and gave the stock a buy rating in a research note on Wednesday, December 14th. Finally, JMP Securities cut Proteon Therapeutics from an outperform rating to a market perform rating in a research note on Wednesday, December 14th. Eight analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus price target of $9.17.

Analyst Recommendations for Proteon Therapeutics (NASDAQ:PRTO)

Proteon Therapeutics (NASDAQ:PRTO) traded down 2.94% on Friday, reaching $1.65. The company had a trading volume of 93,668 shares. The stock’s market capitalization is $27.38 million. The stock’s 50 day moving average is $1.87 and its 200-day moving average is $5.83. Proteon Therapeutics has a 1-year low of $1.40 and a 1-year high of $11.63.

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Hedge funds and other institutional investors have recently made changes to their positions in the company. Spark Investment Management LLC purchased a new position in shares of Proteon Therapeutics during the third quarter valued at about $107,000. Baker BROS. Advisors LP purchased a new position in shares of Proteon Therapeutics during the third quarter valued at about $2,786,000. Pharmstandard International S.A. purchased a new position in shares of Proteon Therapeutics during the fourth quarter valued at about $2,214,000. Finally, Perceptive Advisors LLC purchased a new position in shares of Proteon Therapeutics during the fourth quarter valued at about $635,000. Hedge funds and other institutional investors own 49.28% of the company’s stock.

About Proteon Therapeutics

Proteon Therapeutics, Inc is a late-stage biopharmaceutical company, which focuses on the development of pharmaceuticals to address the needs of patients with renal and vascular disease. The Company is involved in research and development activities. The Company’s product candidate, product candidate, vonapanitase, formerly PRT-201, is a recombinant human elastase that it is developing to manage vascular access failure in patients with chronic kidney disease undergoing or planning for hemodialysis, a lifesaving treatment that cannot be conducted without a functioning vascular access.

5 Day Chart for NASDAQ:PRTO

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