Promis Neurosciences (NASDAQ:PMN) Receives Average Recommendation of “Moderate Buy” from Analysts

Promis Neurosciences (NASDAQ:PMN) has earned a consensus rating of “Moderate Buy” from the four research firms that are covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation and three have issued a buy recommendation on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $100.00.

Several equities analysts have recently weighed in on PMN shares. HC Wainwright reiterated a “buy” rating and set a $100.00 price objective on shares of Promis Neurosciences in a report on Friday, November 21st. Guggenheim dropped their target price on shares of Promis Neurosciences from $150.00 to $125.00 and set a “buy” rating on the stock in a report on Tuesday, November 18th. Wall Street Zen lowered shares of Promis Neurosciences to a “strong sell” rating in a research note on Saturday. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Promis Neurosciences in a report on Wednesday, October 8th.

Promis Neurosciences Trading Down 9.7%

Shares of Promis Neurosciences stock opened at $6.54 on Friday. The stock’s fifty day simple moving average is $10.52 and its 200 day simple moving average is $12.52. The company has a market capitalization of $14.05 million, a PE ratio of -0.34 and a beta of -0.22. Promis Neurosciences has a 12 month low of $6.27 and a 12 month high of $39.75.

Promis Neurosciences (NASDAQ:PMN) last posted its earnings results on Wednesday, November 12th. The company reported ($6.00) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($3.75) by ($2.25). Analysts predict that Promis Neurosciences will post -0.24 EPS for the current fiscal year.

Hedge Funds Weigh In On Promis Neurosciences

A number of large investors have recently added to or reduced their stakes in PMN. Citadel Advisors LLC raised its stake in shares of Promis Neurosciences by 168.1% in the 3rd quarter. Citadel Advisors LLC now owns 170,079 shares of the company’s stock valued at $72,000 after purchasing an additional 106,650 shares during the period. Allostery Investments LP lifted its holdings in shares of Promis Neurosciences by 19.8% in the first quarter. Allostery Investments LP now owns 233,703 shares of the company’s stock valued at $165,000 after purchasing an additional 38,592 shares in the last quarter. Armistice Capital LLC boosted its position in shares of Promis Neurosciences by 39.1% during the third quarter. Armistice Capital LLC now owns 2,974,518 shares of the company’s stock worth $1,264,000 after buying an additional 836,622 shares during the period. Finally, Ally Bridge Group NY LLC grew its holdings in shares of Promis Neurosciences by 367.1% during the third quarter. Ally Bridge Group NY LLC now owns 6,233,497 shares of the company’s stock worth $2,649,000 after buying an additional 4,899,069 shares in the last quarter. Institutional investors own 50.13% of the company’s stock.

Promis Neurosciences Company Profile

ProMIS Neurosciences, Inc discovers and develops antibody therapies and therapeutic vaccines neurodegenerative diseases and other misfolded protein diseases in Canada. The company’s proprietary discovery platform comprises ProMIS and Collective Coordinates algorithms to predict novel targets known as disease specific epitopes on the molecular surface of misfolded proteins.