Proteon Therapeutics Inc (PRTO) Receives Consensus Recommendation of “Buy” from Brokerages

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Proteon Therapeutics Inc (NASDAQ:PRTO) has received a consensus rating of “Buy” from the eight brokerages that are presently covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $4.00.

Several equities research analysts have recently issued reports on PRTO shares. Maxim Group started coverage on Proteon Therapeutics in a research report on Tuesday, October 30th. They issued a “buy” rating and a $5.00 price target on the stock. Zacks Investment Research cut shares of Proteon Therapeutics from a “buy” rating to a “hold” rating in a report on Wednesday, November 14th. HC Wainwright set a $3.00 target price on shares of Proteon Therapeutics and gave the company a “buy” rating in a report on Friday, January 25th. Finally, JMP Securities raised shares of Proteon Therapeutics from a “market perform” rating to an “outperform” rating in a report on Monday.

Shares of NASDAQ:PRTO traded up $0.08 during midday trading on Tuesday, hitting $2.98. The company’s stock had a trading volume of 300 shares, compared to its average volume of 99,833. The company has a market cap of $53.44 million, a P/E ratio of -1.40 and a beta of 0.77. Proteon Therapeutics has a fifty-two week low of $1.50 and a fifty-two week high of $3.10.

A number of institutional investors and hedge funds have recently made changes to their positions in PRTO. Comprehensive Portfolio Management LLC purchased a new stake in shares of Proteon Therapeutics in the 4th quarter valued at $68,000. Vanguard Group Inc grew its stake in shares of Proteon Therapeutics by 45.9% during the third quarter. Vanguard Group Inc now owns 209,383 shares of the biopharmaceutical company’s stock worth $408,000 after acquiring an additional 65,833 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Proteon Therapeutics by 45.9% during the third quarter. Vanguard Group Inc. now owns 209,383 shares of the biopharmaceutical company’s stock worth $408,000 after acquiring an additional 65,833 shares during the last quarter. Finally, Renaissance Technologies LLC grew its stake in shares of Proteon Therapeutics by 29.8% during the second quarter. Renaissance Technologies LLC now owns 306,481 shares of the biopharmaceutical company’s stock worth $751,000 after acquiring an additional 70,381 shares during the last quarter. Institutional investors and hedge funds own 54.37% of the company’s stock.

About Proteon Therapeutics

Proteon Therapeutics, Inc, a late-stage biopharmaceutical company, focuses on the development of pharmaceuticals to address the needs of patients with renal and vascular disease. Its lead product candidate is vonapanitase, an investigational drug intended to improve hemodialysis vascular access outcomes.

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Analyst Recommendations for Proteon Therapeutics (NASDAQ:PRTO)

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