Zacks Investment Research Lowers ProQR Therapeutics (PRQR) to Hold

Zacks Investment Research downgraded shares of ProQR Therapeutics (NASDAQ:PRQR) from a buy rating to a hold rating in a research note released on Saturday morning.

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. “

A number of other research firms have also recently commented on PRQR. ValuEngine cut shares of ProQR Therapeutics from a hold rating to a sell rating in a research report on Tuesday, September 26th. Leerink Swann reaffirmed an outperform rating and issued a $12.00 target price (up previously from $10.00) on shares of ProQR Therapeutics in a research report on Tuesday, September 26th. HC Wainwright reaffirmed a buy rating and issued a $40.00 target price on shares of ProQR Therapeutics in a research report on Tuesday, September 26th. JMP Securities upped their target price on shares of ProQR Therapeutics from $14.00 to $20.00 and gave the company an outperform rating in a research report on Tuesday, September 26th. Finally, Chardan Capital reaffirmed a neutral rating on shares of ProQR Therapeutics in a research report on Tuesday, January 16th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company’s stock. ProQR Therapeutics has an average rating of Hold and an average price target of $18.88.

Shares of ProQR Therapeutics (PRQR) remained flat at $$3.00 during mid-day trading on Friday. 87,280 shares of the stock traded hands, compared to its average volume of 87,031. The company has a debt-to-equity ratio of 0.20, a quick ratio of 6.72 and a current ratio of 6.72. The stock has a market cap of $95.58, a price-to-earnings ratio of -1.58 and a beta of 0.62. ProQR Therapeutics has a 12-month low of $2.75 and a 12-month high of $6.90.

ProQR Therapeutics (NASDAQ:PRQR) last announced its quarterly earnings results on Monday, November 20th. The biopharmaceutical company reported ($0.49) earnings per share for the quarter, beating the consensus estimate of ($0.52) by $0.03. sell-side analysts expect that ProQR Therapeutics will post -2.06 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently bought and sold shares of PRQR. Artal Group S.A. lifted its position in ProQR Therapeutics by 200.0% in the third quarter. Artal Group S.A. now owns 1,500,000 shares of the biopharmaceutical company’s stock valued at $7,275,000 after buying an additional 1,000,000 shares during the last quarter. Janus Henderson Group PLC acquired a new position in ProQR Therapeutics in the second quarter valued at about $2,028,000. Sphera Funds Management LTD. lifted its position in ProQR Therapeutics by 60.6% in the third quarter. Sphera Funds Management LTD. now owns 530,000 shares of the biopharmaceutical company’s stock valued at $2,571,000 after buying an additional 200,000 shares during the last quarter. Redmile Group LLC lifted its position in ProQR Therapeutics by 2.8% in 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 during the last quarter. Finally, Wells Fargo & Company MN increased its stake in ProQR Therapeutics by 212.6% during the third quarter. Wells Fargo & Company MN now owns 43,226 shares of the biopharmaceutical company’s stock worth $210,000 after purchasing an additional 29,400 shares during the period. 31.63% of the stock is currently owned by institutional investors.

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ProQR Therapeutics Company Profile

ProQR Therapeutics N.V. (ProQR), formerly ProQR Therapeutics B.V., is a pre-clinical stage biopharmaceutical company based in the Netherlands. The Company is engaged in the discovery and development of ribonucleic Acid (RNA)-based therapeutics for the treatment of severe genetic disorders. It designs its therapeutic candidates to specifically target and repair the defective messenger RNA, or Messenger Ribonucleic Acid (mRNA), that is transcribed from a mutated gene in order to restore the expression and function of normal, or wild-type protein.

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