Prosensa Holding Stock Rating Lowered by Wedbush (RNA)
Prosensa Holding (NYSE:RNA) was downgraded by Wedbush from an “outperform” rating to a “neutral” rating in a research note issued on Monday, TheFlyOnTheWall.com reports. They currently have a $7.00 target price on the stock, down from their previous target price of $50.00. Wedbush’s price target suggests a potential downside of 1.96% from the stock’s previous close.
The analysts wrote, “GSK and RNA announced Friday that the primary endpoint of their Phase III trial for drisapersen was not met. The company reported a difference in 6MWD of 10.33m (p=0.415) between drisapersen and placebo. Additionally, there were no treatment differences observed in key secondary assessments of motor function. Preliminary analysis of Phase III results discussed on RNA’s call suggest that the anticipated causes for concern with this trial did not result in its failure, which we believe call into question drisapersen’s therapeutic activity.”
Prosensa Holding (NYSE:RNA) traded down 2.10% on Monday, hitting $6.99. 1,521,713 shares of the company’s stock traded hands. Prosensa Holding has a one year low of $5.65 and a one year high of $34.55. The stock has a 50-day moving average of $24.71 and a 200-day moving average of $25.16. The company’s market cap is $202.7 million.
RNA has been the subject of a number of other recent research reports. Analysts at Citigroup Inc. downgraded shares of Prosensa Holding (NYSE:RNA) from a “buy” rating to a “neutral” rating in a research note to investors on Monday. Separately, analysts at Leerink Swann cut their price target on shares of Prosensa Holding (NYSE:RNA) from $35.00 to $11.00 in a research note to investors on Friday. Finally, analysts at JPMorgan Chase & Co. initiated coverage on shares of Prosensa Holding (NYSE:RNA) in a research note to investors on Tuesday, July 23rd. They set an “outperform” rating on the stock.
Prosensa Holding N.V., formerly Prosensa Holding B.V., is a biotechnology company engaged in the discovery and development of ribonucleic acid-modulating (NYSE:RNA)-modulating, therapeutics for the treatment of genetic disorders.
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