Promis Neurosciences (NASDAQ:PMN) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Promis Neurosciences (NASDAQ:PMN) have been given a consensus recommendation of “Moderate Buy” by the four research firms that are currently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation and three have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $42.6667.

PMN has been the subject of several recent analyst reports. Guggenheim dropped their price objective on Promis Neurosciences from $125.00 to $35.00 and set a “buy” rating for the company in a research report on Friday, February 6th. HC Wainwright reissued a “buy” rating and issued a $18.00 target price (up previously from $4.00) on shares of Promis Neurosciences in a report on Monday, December 1st. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Promis Neurosciences in a report on Thursday, January 22nd. Finally, Wall Street Zen lowered shares of Promis Neurosciences to a “strong sell” rating in a research report on Saturday, November 29th.

Insider Buying and Selling at Promis Neurosciences

In other news, major shareholder Abg Management Ltd. acquired 700,741 shares of Promis Neurosciences stock in a transaction that occurred on Tuesday, February 3rd. The shares were acquired at an average price of $12.13 per share, for a total transaction of $8,499,988.33. Following the transaction, the insider directly owned 943,090 shares of the company’s stock, valued at approximately $11,439,681.70. The trade was a 289.15% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Promis Neurosciences

Institutional investors have recently made changes to their positions in the stock. Citadel Advisors LLC raised its position in shares of Promis Neurosciences by 168.1% during the third quarter. Citadel Advisors LLC now owns 170,079 shares of the company’s stock worth $72,000 after acquiring an additional 106,650 shares during the last quarter. Armistice Capital LLC increased its position in Promis Neurosciences by 39.1% during the 3rd quarter. Armistice Capital LLC now owns 2,974,518 shares of the company’s stock valued at $1,264,000 after purchasing an additional 836,622 shares during the period. Finally, Ally Bridge Group NY LLC raised its holdings in Promis Neurosciences by 367.1% during the 3rd quarter. Ally Bridge Group NY LLC now owns 6,233,497 shares of the company’s stock worth $2,649,000 after purchasing an additional 4,899,069 shares during the last quarter. Institutional investors own 50.13% of the company’s stock.

Promis Neurosciences Trading Up 2.4%

Shares of Promis Neurosciences stock opened at $14.96 on Friday. The company has a market cap of $32.16 million, a PE ratio of -0.79 and a beta of -0.08. The company has a 50 day moving average of $9.62 and a 200-day moving average of $11.13. Promis Neurosciences has a 1-year low of $6.27 and a 1-year high of $39.75.

Promis Neurosciences (NASDAQ:PMN) last announced its quarterly earnings data on Wednesday, November 12th. The company reported ($6.00) EPS for the quarter, missing the consensus estimate of ($3.75) by ($2.25). Research analysts forecast that Promis Neurosciences will post -0.24 earnings per share for the current year.

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.