ProQR Therapeutics N.V. (PRQR) Raised to Buy at Zacks Investment Research
ProQR Therapeutics N.V. (NASDAQ:PRQR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday. The firm currently has a $6.00 target price on the biopharmaceutical company’s stock. Zacks Investment Research‘s price target would indicate a potential downside of 0.83% 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. “
Other equities analysts have also issued research reports about the stock. HC Wainwright restated a “buy” rating and set a $40.00 price target on shares of ProQR Therapeutics N.V. in a research report on Tuesday, June 20th. ValuEngine upgraded shares of ProQR Therapeutics N.V. from a “strong sell” rating to a “sell” rating in a research report on Friday, September 1st. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $14.30.
ProQR Therapeutics N.V. (PRQR) traded up 1.68% during mid-day trading on Wednesday, hitting $6.05. 140,634 shares of the stock traded hands. The stock has a 50-day moving average of $5.11 and a 200 day moving average of $4.97. The firm’s market cap is $145.84 million. ProQR Therapeutics N.V. has a 1-year low of $3.65 and a 1-year high of $8.70.
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A number of hedge funds have recently bought and sold shares of the business. Redmile Group LLC lifted its stake in ProQR Therapeutics N.V. by 2.8% during the second quarter. Redmile Group LLC now owns 1,596,275 shares of the biopharmaceutical company’s stock valued at $8,301,000 after buying an additional 43,050 shares in the last quarter. Artal Group S.A. lifted its stake in ProQR Therapeutics N.V. by 25.0% during the second quarter. Artal Group S.A. now owns 500,000 shares of the biopharmaceutical company’s stock valued at $2,600,000 after buying an additional 100,000 shares in the last quarter. Sphera Funds Management LTD. lifted its stake in ProQR Therapeutics N.V. by 65.0% during the first quarter. Sphera Funds Management LTD. now owns 330,000 shares of the biopharmaceutical company’s stock valued at $1,650,000 after buying an additional 130,000 shares in the last quarter. Finally, Janus Henderson Group PLC purchased a new stake in ProQR Therapeutics N.V. during the second quarter valued at about $2,028,000. 35.93% of the stock is owned by institutional investors.
About ProQR Therapeutics N.V.
ProQR Therapeutics N.V. (ProQR), formerly ProQR Therapeutics B.V., is a pre-clinical stage biopharmaceutical company. The Company is engaged in the discovery and development of ribonucleic Acid (RNA)-based therapeutics for the treatment of severe genetic disorders. Utilizing its RNA repair technologies, the Company is developing a pipeline in severe genetic disorders, such as cystic fibrosis (CF) and Leber’s congenital amaurosis (LCA).
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