Proteon Therapeutics Inc. (PRTO) Now Covered by Analysts at Cowen and Company
Stock analysts at Cowen and Company initiated coverage on shares of Proteon Therapeutics Inc. (NASDAQ:PRTO) in a note issued to investors on Wednesday, The Fly reports. The firm set an “outperform” rating on the biopharmaceutical company’s stock.
A number of other analysts also recently issued reports on the company. Zacks Investment Research upgraded Proteon Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday, October 12th. HC Wainwright assumed coverage on Proteon Therapeutics in a research report on Thursday, September 22nd. They issued a “buy” rating and a $18.00 price target for the company. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Proteon Therapeutics currently has an average rating of “Buy” and an average price target of $20.80.
Proteon Therapeutics (NASDAQ:PRTO) opened at 9.00 on Wednesday. The stock’s market capitalization is $149.24 million. Proteon Therapeutics has a 52 week low of $4.90 and a 52 week high of $17.76. The company has a 50 day moving average of $8.94 and a 200 day moving average of $8.20.
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Proteon Therapeutics (NASDAQ:PRTO) last issued its quarterly earnings results on Monday, August 8th. The biopharmaceutical company reported ($0.48) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.43) by $0.05. Equities analysts expect that Proteon Therapeutics will post ($1.85) EPS for the current fiscal year.
A number of hedge funds have recently added to or reduced their stakes in PRTO. State Street Corp raised its stake in Proteon Therapeutics by 58.8% in the first quarter. State Street Corp now owns 94,432 shares of the biopharmaceutical company’s stock worth $729,000 after buying an additional 34,952 shares during the last quarter. Geode Capital Management LLC raised its stake in Proteon Therapeutics by 6.3% in the first quarter. Geode Capital Management LLC now owns 45,412 shares of the biopharmaceutical company’s stock worth $351,000 after buying an additional 2,685 shares during the last quarter. TFS Capital LLC acquired a new stake in Proteon Therapeutics during the second quarter worth $206,000. Bridgeway Capital Management Inc. raised its stake in Proteon Therapeutics by 211.2% in the second quarter. Bridgeway Capital Management Inc. now owns 36,835 shares of the biopharmaceutical company’s stock worth $296,000 after buying an additional 25,000 shares during the last quarter. Finally, Deerfield Management Co. raised its stake in Proteon Therapeutics by 22.7% in the second quarter. Deerfield Management Co. now owns 1,552,031 shares of the biopharmaceutical company’s stock worth $12,463,000 after buying an additional 286,688 shares during the last quarter. Institutional investors and hedge funds own 51.54% 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.
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