Zacks Investment Research Upgrades ProQR Therapeutics (PRQR) to Buy

ProQR Therapeutics (NASDAQ:PRQR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday. The brokerage currently has a $3.50 price target on the biopharmaceutical company’s stock. Zacks Investment Research‘s price objective points to a potential upside of 16.67% from the company’s previous close.

According to Zacks, “ProQR Therapeutics B.V. is a biotech company. It is engaged in the discovery and development of RNA-based therapeutics for the treatment of severe genetic disorders, with an initial focus on Cystic Fibrosis (CF). The Company’s lead product candidate includes QR-010, a RNA-based oligonucleotide for the treatment of cystic fibrosis. ProQR Therapeutics B.V. is headquartered in Leiden, the Netherlands. “

PRQR has been the subject of several other research reports. HC Wainwright reiterated a “buy” rating and set a $40.00 price target on shares of ProQR Therapeutics in a research report on Tuesday, September 26th. ValuEngine cut shares of ProQR Therapeutics from a “hold” rating to a “sell” rating in a research report on Tuesday, September 26th. JMP Securities lifted their price objective on shares of ProQR Therapeutics from $14.00 to $20.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 26th. Finally, Leerink Swann reissued an “outperform” rating and set a $12.00 price objective (up previously from $10.00) on shares of ProQR Therapeutics in a research note on Tuesday, September 26th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. ProQR Therapeutics currently has an average rating of “Hold” and a consensus price target of $18.88.

Shares of ProQR Therapeutics (PRQR) remained flat at $$3.00 during trading hours on Thursday. The company had a trading volume of 87,280 shares, compared to its average volume of 87,031. ProQR Therapeutics has a 1-year low of $2.75 and a 1-year high of $6.90. The company has a debt-to-equity ratio of 0.20, a quick ratio of 6.72 and a current ratio of 6.72. The company has a market cap of $95.58, a price-to-earnings ratio of -1.58 and a beta of 0.62.

ProQR Therapeutics (NASDAQ:PRQR) last issued its quarterly earnings results on Monday, November 20th. The biopharmaceutical company reported ($0.49) EPS for the quarter, topping the consensus estimate of ($0.52) by $0.03. equities research analysts predict that ProQR Therapeutics will post -2.06 EPS for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in the stock. Redmile Group LLC boosted its stake in ProQR Therapeutics by 2.8% during the 2nd quarter. Redmile Group LLC now owns 1,596,275 shares of the biopharmaceutical company’s stock worth $8,301,000 after acquiring an additional 43,050 shares during the last quarter. Artal Group S.A. boosted its stake in ProQR Therapeutics by 200.0% during the 3rd quarter. Artal Group S.A. now owns 1,500,000 shares of the biopharmaceutical company’s stock worth $7,275,000 after acquiring an additional 1,000,000 shares during the last quarter. Sphera Funds Management LTD. boosted its stake in ProQR Therapeutics by 60.6% during the 3rd quarter. Sphera Funds Management LTD. now owns 530,000 shares of the biopharmaceutical company’s stock worth $2,571,000 after acquiring an additional 200,000 shares during the last quarter. Janus Henderson Group PLC bought a new position in ProQR Therapeutics during the 2nd quarter worth approximately $2,028,000. Finally, Wells Fargo & Company MN boosted its stake in ProQR Therapeutics by 212.6% during the 3rd quarter. Wells Fargo & Company MN now owns 43,226 shares of the biopharmaceutical company’s stock worth $210,000 after acquiring an additional 29,400 shares during the last quarter. 31.63% of the stock is currently owned by institutional investors and hedge funds.

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ProQR Therapeutics Company Profile

ProQR Therapeutics N.V. (ProQR), formerly ProQR Therapeutics B.V., is a pre-clinical stage biopharmaceutical company based in the Netherlands. The Company is engaged in the discovery and development of ribonucleic Acid (RNA)-based therapeutics for the treatment of severe genetic disorders. It designs its therapeutic candidates to specifically target and repair the defective messenger RNA, or Messenger Ribonucleic Acid (mRNA), that is transcribed from a mutated gene in order to restore the expression and function of normal, or wild-type protein.

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