ProQR Therapeutics (NASDAQ:PRQR) Announces Earnings Results

Key Points

• ProQR Therapeutics beat quarterly expectations: The biopharmaceutical company reported a loss of $0.09 per share versus the consensus estimate of a $0.13 loss, while revenue reached $10 million compared with expectations of $4.56 million.
• Shares rose 3.8% to $1.92 following the results. Insiders have also purchased 600,000 shares worth approximately $988,500 over the past quarter, increasing insider ownership to 8.4%.
• Analyst sentiment remains mixed but leans positive, with a consensus “Moderate Buy” rating and an average price target of $7.33, despite some analysts recently lowering targets or downgrading the stock.

ProQR Therapeutics (NASDAQ:PRQR - Get Free Report) released its earnings results on Thursday. The biopharmaceutical company reported ($0.09) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.13) by $0.04, reports. The firm had revenue of $10.00 million for the quarter, compared to analysts' expectations of $4.56 million. ProQR Therapeutics had a negative return on equity of 84.87% and a negative net margin of 331.33%.

ProQR Therapeutics Trading Up 3.8%

NASDAQ PRQR traded up $0.07 on Friday, hitting $1.92. The company's stock had a trading volume of 487,193 shares, compared to its average volume of 810,560. The company's 50-day moving average is $1.74 and its 200 day moving average is $1.66. ProQR Therapeutics has a 1-year low of $1.33 and a 1-year high of $3.10.

Insiders Place Their Bets

In other ProQR Therapeutics news, CEO Boer Daniel Anton De purchased 150,000 shares of the business's stock in a transaction dated Thursday, July 9th. The shares were bought at an average price of $1.74 per share, for a total transaction of $261,000.00. Following the completion of the acquisition, the chief executive officer owned 300,000 shares in the company, valued at approximately $522,000. This trade represents a 100.00% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Bart Filius acquired 150,000 shares of ProQR Therapeutics stock in a transaction that occurred on Friday, July 17th. The stock was acquired at an average cost of $1.72 per share, for a total transaction of $258,000.00. Following the purchase, the director owned 300,000 shares of the company's stock, valued at $516,000. The trade was a 100.00% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders have bought 600,000 shares of company stock worth $988,500. 8.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On ProQR Therapeutics

Institutional investors have recently made changes to their positions in the stock. Ikarian Capital LLC raised its position in shares of ProQR Therapeutics by 67.2% during the fourth quarter. Ikarian Capital LLC now owns 1,492,229 shares of the biopharmaceutical company's stock worth $3,014,000 after acquiring an additional 600,000 shares during the last quarter. Citadel Advisors LLC lifted its stake in shares of ProQR Therapeutics by 73.2% in the third quarter. Citadel Advisors LLC now owns 657,012 shares of the biopharmaceutical company's stock worth $1,399,000 after acquiring an additional 277,749 shares during the period. Millennium Management LLC boosted its holdings in ProQR Therapeutics by 80.8% in the fourth quarter. Millennium Management LLC now owns 434,991 shares of the biopharmaceutical company's stock valued at $879,000 after acquiring an additional 194,369 shares during the last quarter. Two Sigma Investments LP boosted its holdings in ProQR Therapeutics by 86.3% in the third quarter. Two Sigma Investments LP now owns 417,300 shares of the biopharmaceutical company's stock valued at $889,000 after acquiring an additional 193,260 shares during the last quarter. Finally, Palo Alto Investors LP acquired a new stake in ProQR Therapeutics during the 3rd quarter valued at approximately $402,000. Institutional investors own 32.65% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on PRQR shares. Chardan Capital decreased their price target on shares of ProQR Therapeutics from $4.00 to $3.00 and set a "buy" rating on the stock in a report on Friday, June 26th. JonesTrading dropped their price objective on shares of ProQR Therapeutics from $11.00 to $10.00 and set a "buy" rating for the company in a research note on Friday, June 26th. Wall Street Zen lowered shares of ProQR Therapeutics from a "hold" rating to a "strong sell" rating in a research report on Saturday, May 16th. Weiss Ratings cut shares of ProQR Therapeutics from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Tuesday, June 23rd. Finally, Citigroup reiterated a "market outperform" rating on shares of ProQR Therapeutics in a report on Wednesday, May 27th. Four investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, ProQR Therapeutics currently has a consensus rating of "Moderate Buy" and a consensus price target of $7.33.

About ProQR Therapeutics

ProQR Therapeutics N.V. is a clinical-stage biotechnology company dedicated to developing RNA-based therapies for severe genetic diseases. Utilizing its proprietary Axiomer® RNA editing platform, ProQR aims to correct disease-causing mutations directly at the messenger RNA level. The company's pipeline features several investigational candidates, including sepofarsen (formerly QR-110) for Leber congenital amaurosis type 10, QR-421a targeting Usher syndrome and certain forms of retinitis pigmentosa, and QR-313 for dystrophic epidermolysis bullosa.

Founded in 2012 and headquartered in Leiden, the Netherlands, ProQR maintains a significant presence in Cambridge, Massachusetts, to support its clinical research and regulatory initiatives.

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