ProQR Therapeutics (NASDAQ:PRQR) Stock Keeps Buy Rating at Chardan Capital

Key Points

• Chardan Capital reaffirmed a “buy” rating on ProQR Therapeutics and set a $3.00 price target, implying 80.72% upside from the reported $1.66 share price. Analysts overall assign the stock a “Moderate Buy” rating with a consensus target of $7.60.
• ProQR reported quarterly EPS of -$0.09, beating the consensus estimate of -$0.13, while revenue reached $10 million versus expectations of $4.56 million. The company remains unprofitable, with a negative net margin of 223.51%.
• Insiders purchased 450,000 shares worth $757,500 over the past 90 days, including significant purchases by the CEO and a director. Insiders own 8.40% of the company, while institutional investors hold 32.65%.

ProQR Therapeutics (NASDAQ:PRQR - Get Free Report)'s stock had its "buy" rating reaffirmed by stock analysts at Chardan Capital in a research note issued to investors on Thursday, Benzinga reports. They currently have a $3.00 target price on the biopharmaceutical company's stock. Chardan Capital's price target would suggest a potential upside of 80.72% from the company's current price.

A number of other equities research analysts have also recently issued reports on the stock. Bank of America assumed coverage on shares of ProQR Therapeutics in a research note on Thursday, August 20th. They issued a "buy" rating and a $8.00 price target on the stock. JonesTrading reduced their price target on shares of ProQR Therapeutics from $11.00 to $10.00 and set a "buy" rating for the company in a research report on Friday, June 26th. Wall Street Zen upgraded ProQR Therapeutics from a "strong sell" rating to a "hold" rating in a research note on Saturday, August 15th. Citigroup reissued a "market outperform" rating on shares of ProQR Therapeutics in a report on Thursday. Finally, HC Wainwright decreased their target price on ProQR Therapeutics to $8.00 and set a "buy" rating on the stock in a research report on Thursday. Six equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $7.60.

ProQR Therapeutics Trading Up 0.6%

Shares of PRQR stock opened at $1.66 on Thursday. The stock has a 50 day moving average of $1.94 and a 200 day moving average of $1.76. The stock has a market cap of $174.90 million, a P/E ratio of -3.61 and a beta of 0.06. ProQR Therapeutics has a twelve month low of $1.33 and a twelve month high of $3.10.

ProQR Therapeutics (NASDAQ:PRQR - Get Free Report) last issued its quarterly earnings data on Thursday, August 13th. The biopharmaceutical company reported ($0.09) EPS for the quarter, topping analysts' consensus estimates of ($0.13) by $0.04. ProQR Therapeutics had a negative net margin of 223.51% and a negative return on equity of 73.83%. The business had revenue of $10.00 million for the quarter, compared to analysts' expectations of $4.56 million. On average, research analysts predict that ProQR Therapeutics will post -0.45 earnings per share for the current fiscal year.

Insider Activity at ProQR Therapeutics

In related news, CEO Daniel de Boer purchased 150,000 shares of ProQR Therapeutics stock in a transaction dated Thursday, July 9th. The shares were acquired at an average price of $1.74 per share, for a total transaction of $261,000.00. Following the acquisition, the chief executive officer directly owned 300,000 shares in the company, valued at approximately $522,000. The trade was a 100.00% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Bart Filius purchased 150,000 shares of the stock in a transaction dated Friday, July 17th. The shares were purchased at an average cost of $1.72 per share, for a total transaction of $258,000.00. Following the transaction, the director owned 300,000 shares in the company, valued at approximately $516,000. The trade was a 100.00% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders purchased 450,000 shares of company stock valued at $757,500. Insiders own 8.40% of the company's stock.

Institutional Trading of ProQR Therapeutics

Institutional investors have recently made changes to their positions in the company. RFG Advisory LLC lifted its holdings in ProQR Therapeutics by 236.8% in the second quarter. RFG Advisory LLC now owns 64,000 shares of the biopharmaceutical company's stock valued at $119,000 after acquiring an additional 45,000 shares during the last quarter. Bank of America Corp DE lifted its position in ProQR Therapeutics by 6.4% in the first quarter. Bank of America Corp DE now owns 185,110 shares of the biopharmaceutical company's stock valued at $300,000 after buying an additional 11,186 shares during the last quarter. Axiom Investment Management LLC purchased a new position in ProQR Therapeutics during the first quarter worth about $53,000. Finally, Walleye Capital LLC boosted its stake in ProQR Therapeutics by 2.7% during the first quarter. Walleye Capital LLC now owns 607,529 shares of the biopharmaceutical company's stock worth $984,000 after buying an additional 15,744 shares during the period. Hedge funds and other institutional investors own 32.65% of the company's stock.

ProQR Therapeutics Company Profile

ProQR Therapeutics N.V. NASDAQ: PRQR is a biotechnology company focused on developing RNA-based medicines for genetic and other serious diseases. The company's research platform is designed to modify RNA and potentially correct disease-causing genetic defects without permanently changing a patient's DNA.

ProQR has primarily pursued treatments for inherited retinal disorders and other conditions affecting the eye. Its pipeline has included investigational RNA therapies such as sepofarsen, developed for Leber congenital amaurosis type 10, and ultevursen, developed for Usher syndrome type 2A.