ProQR Therapeutics (NASDAQ:PRQR) Given New $3.50 Price Target at Cantor Fitzgerald

ProQR Therapeutics (NASDAQ:PRQRGet Rating) had its price objective lowered by analysts at Cantor Fitzgerald from $6.00 to $3.50 in a note issued to investors on Tuesday, The Fly reports. Cantor Fitzgerald’s price objective points to a potential upside of 369.17% from the stock’s current price.

A number of other research analysts have also weighed in on PRQR. HC Wainwright decreased their price target on shares of ProQR Therapeutics from $20.00 to $4.00 and set a “buy” rating on the stock in a research note on Monday, February 14th. JMP Securities cut their price objective on shares of ProQR Therapeutics from $8.00 to $5.00 and set a “market outperform” rating for the company in a report on Thursday, April 14th. StockNews.com initiated coverage on shares of ProQR Therapeutics in a report on Thursday, March 31st. They issued a “sell” rating for the company. Chardan Capital cut their price objective on shares of ProQR Therapeutics from $8.00 to $2.50 and set a “buy” rating for the company in a report on Thursday, April 14th. Finally, Raymond James downgraded shares of ProQR Therapeutics from a “strong-buy” rating to a “market perform” rating in a report on Friday, February 11th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat, ProQR Therapeutics currently has an average rating of “Hold” and a consensus price target of $7.94.

Shares of ProQR Therapeutics stock opened at $0.75 on Tuesday. The firm has a market capitalization of $37.45 million, a PE ratio of -0.65 and a beta of 0.85. ProQR Therapeutics has a twelve month low of $0.75 and a twelve month high of $9.09. The firm’s 50-day moving average price is $1.19 and its 200 day moving average price is $5.08. The company has a current ratio of 6.94, a quick ratio of 5.10 and a debt-to-equity ratio of 0.35.

ProQR Therapeutics (NASDAQ:PRQRGet Rating) last issued its quarterly earnings results on Thursday, February 24th. The biopharmaceutical company reported ($0.30) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.26) by ($0.04). The company had revenue of $0.27 million during the quarter, compared to analysts’ expectations of $0.90 million. ProQR Therapeutics had a negative net margin of 4,113.78% and a negative return on equity of 59.74%. On average, sell-side analysts predict that ProQR Therapeutics will post -1.03 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Wellington Management Group LLP increased its holdings in shares of ProQR Therapeutics by 44.5% during the 3rd quarter. Wellington Management Group LLP now owns 5,351,845 shares of the biopharmaceutical company’s stock worth $44,796,000 after buying an additional 1,648,814 shares during the last quarter. Privium Fund Management UK Ltd acquired a new stake in shares of ProQR Therapeutics during the 4th quarter worth approximately $38,935,000. Goldman Sachs Group Inc. boosted its position in shares of ProQR Therapeutics by 14.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 3,913,394 shares of the biopharmaceutical company’s stock worth $31,346,000 after purchasing an additional 481,325 shares during the period. Opaleye Management Inc. boosted its position in shares of ProQR Therapeutics by 0.8% during the 4th quarter. Opaleye Management Inc. now owns 1,435,510 shares of the biopharmaceutical company’s stock worth $11,498,000 after purchasing an additional 11,310 shares during the period. Finally, FIL Ltd boosted its position in shares of ProQR Therapeutics by 17.3% during the 3rd quarter. FIL Ltd now owns 1,205,760 shares of the biopharmaceutical company’s stock worth $10,092,000 after purchasing an additional 177,958 shares during the period. Institutional investors and hedge funds own 95.47% of the company’s stock.

ProQR Therapeutics Company Profile (Get Rating)

ProQR Therapeutics N.V., a biopharmaceutical company, engages in the discovery and development of RNA-based therapeutics for the treatment of genetic disorders. It is primarily developing sepofarsen that is in phase II/III illuminate trial for treating leber's congenital amaurosis 10 disease; QR-421a, which is in phase I/II stellar trial for usher syndrome type 2 and non-syndromic retinitis pigmentosa; QR-1123 that is in phase I/II aurora trial for the treatment of autosomal dominant retinitis pigmentosa; and QR-504a, which is in first clinical trial for the treatment of fuchs endothelial corneal dystrophy.

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