Zacks Investment Research Downgrades ProQR Therapeutics (PRQR) to Hold

ProQR Therapeutics (NASDAQ:PRQR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Tuesday.

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. “

Other research analysts also recently issued research reports about the company. Leerink Swann reiterated an “outperform” rating and set a $12.00 price target (up previously from $10.00) on shares of ProQR Therapeutics in a report on Tuesday, September 26th. JMP Securities lifted their price target on ProQR Therapeutics from $14.00 to $20.00 and gave the company an “outperform” rating in a report on Tuesday, September 26th. Chardan Capital reiterated a “neutral” rating on shares of ProQR Therapeutics in a report on Sunday, September 17th. ValuEngine downgraded ProQR Therapeutics from a “hold” rating to a “sell” rating in a report on Tuesday, September 26th. Finally, HC Wainwright reiterated a “buy” rating and set a $40.00 price target on shares of ProQR Therapeutics in a report on Tuesday, September 26th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $18.94.

Shares of ProQR Therapeutics (NASDAQ:PRQR) traded down $0.05 during mid-day trading on Tuesday, hitting $3.35. The stock had a trading volume of 44,100 shares, compared to its average volume of 88,771. ProQR Therapeutics has a twelve month low of $2.75 and a twelve month high of $6.90. The company has a quick ratio of 6.72, a current ratio of 6.72 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $110.93, a P/E ratio of -1.63 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) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.52) by $0.03. analysts anticipate that ProQR Therapeutics will post -1.71 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of PRQR. Artal Group S.A. grew its stake in ProQR Therapeutics by 200.0% in the third quarter. Artal Group S.A. now owns 1,500,000 shares of the biopharmaceutical company’s stock valued at $7,275,000 after purchasing an additional 1,000,000 shares in the last quarter. Janus Henderson Group PLC purchased a new position in ProQR Therapeutics in the second quarter valued at about $2,028,000. Sphera Funds Management LTD. grew its stake in ProQR Therapeutics by 60.6% in the third quarter. Sphera Funds Management LTD. now owns 530,000 shares of the biopharmaceutical company’s stock valued at $2,571,000 after purchasing an additional 200,000 shares in the last quarter. Redmile Group LLC grew its stake in ProQR Therapeutics by 2.8% in the second quarter. Redmile Group LLC now owns 1,596,275 shares of the biopharmaceutical company’s stock valued at $8,301,000 after purchasing an additional 43,050 shares in the last quarter. Finally, Wells Fargo & Company MN grew its stake in ProQR Therapeutics by 212.6% in the third quarter. Wells Fargo & Company MN now owns 43,226 shares of the biopharmaceutical company’s stock valued at $210,000 after purchasing an additional 29,400 shares in the last quarter. Hedge funds and other institutional investors own 31.63% of the company’s stock.

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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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