Promis Neurosciences (NASDAQ:PMN) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Promis Neurosciences (NASDAQ:PMN) has earned an average rating of “Moderate Buy” from the four brokerages that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating and three have given a buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $72.6667.

Several research analysts recently weighed in on the stock. HC Wainwright restated a “buy” rating and set a $18.00 price target (up previously from $4.00) on shares of Promis Neurosciences in a research report on Monday, December 1st. Weiss Ratings reiterated a “sell (e+)” rating on shares of Promis Neurosciences in a research note on Wednesday, October 8th. Guggenheim reduced their target price on Promis Neurosciences from $150.00 to $125.00 and set a “buy” rating for the company in a report on Tuesday, November 18th. Finally, Wall Street Zen downgraded Promis Neurosciences to a “strong sell” rating in a research report on Saturday, November 29th.

Promis Neurosciences Trading Up 1.0%

Shares of PMN opened at $8.23 on Monday. The firm has a market cap of $17.69 million, a P/E ratio of -0.43 and a beta of -0.10. The stock’s 50 day moving average is $8.32 and its two-hundred day moving average is $11.43. 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 quarterly earnings data on Wednesday, November 12th. The company reported ($6.00) earnings per share for the quarter, missing analysts’ consensus estimates of ($3.75) by ($2.25). Equities research analysts forecast that Promis Neurosciences will post -0.24 EPS for the current year.

Institutional Investors Weigh In On Promis Neurosciences

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Citadel Advisors LLC raised its position in shares of Promis Neurosciences by 168.1% in the third quarter. Citadel Advisors LLC now owns 170,079 shares of the company’s stock valued at $72,000 after buying an additional 106,650 shares during the last quarter. Armistice Capital LLC boosted its position in 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 acquiring an additional 836,622 shares during the last quarter. Finally, Ally Bridge Group NY LLC boosted its position in 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 acquiring an additional 4,899,069 shares during the last quarter. Institutional investors and hedge funds own 50.13% of the company’s stock.

Promis Neurosciences Company Profile

Promis Neurosciences, Inc is a clinical‐stage biopharmaceutical company focused on the discovery and development of novel therapeutics for central nervous system disorders. The company’s research programs target cognitive impairment and other neurological symptoms associated with diseases such as Alzheimer’s disease and multiple sclerosis.

Leveraging a proprietary small‐molecule discovery platform, Promis Neurosciences advances both preclinical and early clinical candidates designed to modulate neural pathways involved in memory, learning and neuroinflammation.