Promis Neurosciences (NASDAQ:PMN) Receives Consensus Rating of "Moderate Buy" from Analysts

Key Points

• Analysts rate Promis Neurosciences “Moderate Buy.” Of eight covering firms, four recommend buying, two strongly recommend buying, one rates it a hold and one a sell; the average 12-month price target is $31.50.
• Institutional ownership stands at 50.13%. Recent buyers included Janus Henderson, Yu Fan, Ally Bridge Group and Citadel Advisors, while Armistice Capital increased its stake by 39.1%.
• PMN shares opened at $13.33, compared with a 52-week range of $6.27 to $27.40. The company reported a quarterly loss of $1.26 per share, missing the $1.06 consensus estimate, and analysts expect a full-year loss of $5.08 per share.

Promis Neurosciences (NASDAQ:PMN - Get Free Report) has been given an average rating of "Moderate Buy" by the eight brokerages that are presently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, four have given a buy rating and two have given a strong buy rating to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $31.50.

PMN has been the subject of several recent research reports. Zacks Research raised shares of Promis Neurosciences to a "hold" rating in a report on Tuesday, June 9th. Guggenheim reissued a "buy" rating and issued a $69.00 price target (up from $35.00) on shares of Promis Neurosciences in a report on Tuesday, July 28th. Brookline Capital Markets upgraded shares of Promis Neurosciences to a "strong-buy" rating in a research report on Wednesday, May 20th. Wall Street Zen raised shares of Promis Neurosciences from a "strong sell" rating to a "sell" rating in a research note on Saturday, July 18th. Finally, Weiss Ratings lowered Promis Neurosciences from a "sell (d-)" rating to a "sell (e+)" rating in a report on Thursday, June 11th.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in PMN. Janus Henderson Group PLC purchased a new position in Promis Neurosciences in the first quarter valued at approximately $16,418,000. Armistice Capital LLC increased its holdings in shares of Promis Neurosciences by 39.1% in the 3rd quarter. Armistice Capital LLC now owns 2,974,518 shares of the company's stock valued at $1,264,000 after acquiring an additional 836,622 shares during the period. Yu Fan acquired a new position in Promis Neurosciences in the first quarter valued at $4,188,000. Ally Bridge Group NY LLC raised its holdings in shares of Promis Neurosciences by 66.1% in the first quarter. Ally Bridge Group NY LLC now owns 414,219 shares of the company's stock valued at $5,261,000 after buying an additional 164,880 shares during the last quarter. Finally, Citadel Advisors LLC boosted its stake 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 buying an additional 106,650 shares during the period. 50.13% of the stock is currently owned by institutional investors and hedge funds.

Promis Neurosciences Stock Performance

Shares of PMN stock opened at $13.33 on Friday. Promis Neurosciences has a fifty-two week low of $6.27 and a fifty-two week high of $27.40. The firm has a market capitalization of $119.54 million, a price-to-earnings ratio of -0.92 and a beta of -0.23. The stock's 50-day simple moving average is $12.18 and its 200-day simple moving average is $13.38.

Promis Neurosciences (NASDAQ:PMN - Get Free Report) last posted its quarterly earnings data on Tuesday, May 12th. The company reported ($1.26) EPS for the quarter, missing the consensus estimate of ($1.06) by ($0.20). As a group, equities analysts forecast that Promis Neurosciences will post -5.08 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.

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