ProQR Therapeutics (NASDAQ:PRQR) Cut to Strong Sell at Zacks Research

Key Points

• ProQR Therapeutics has been downgraded from a "hold" rating to a "strong sell" rating by Zacks Research.
• The company reported a loss of $0.14 per share for its latest quarterly results, falling short of analysts' expectations of a loss of $0.08.
• Shares of ProQR Therapeutics are currently trading at approximately $2.80, significantly below the average price target of $8.00 set by analysts.

ProQR Therapeutics (NASDAQ:PRQR - Get Free Report) was downgraded by equities researchers at Zacks Research from a "hold" rating to a "strong sell" rating in a note issued to investors on Wednesday,Zacks.com reports.

A number of other equities research analysts also recently issued reports on PRQR. JMP Securities reissued a "market outperform" rating and set a $8.00 price objective on shares of ProQR Therapeutics in a research report on Friday, June 27th. Weiss Ratings reissued a "sell (d-)" rating on shares of ProQR Therapeutics in a report on Wednesday, October 8th. Evercore ISI restated an "outperform" rating on shares of ProQR Therapeutics in a research report on Friday, July 11th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $8.00 price objective on shares of ProQR Therapeutics in a research report on Friday, June 27th. Finally, Chardan Capital reissued a "buy" rating and issued a $4.00 target price on shares of ProQR Therapeutics in a report on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $8.00.

ProQR Therapeutics Trading Up 3.3%

Shares of PRQR stock opened at $2.80 on Wednesday. ProQR Therapeutics has a 12-month low of $1.07 and a 12-month high of $4.62. The firm's 50 day moving average is $2.23 and its 200 day moving average is $1.94. The stock has a market capitalization of $294.59 million, a P/E ratio of -6.09 and a beta of 0.23.

ProQR Therapeutics (NASDAQ:PRQR - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The biopharmaceutical company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.08) by ($0.06). The firm had revenue of $4.33 million for the quarter, compared to the consensus estimate of $5.01 million. ProQR Therapeutics had a negative net margin of 238.52% and a negative return on equity of 61.25%. As a group, equities analysts predict that ProQR Therapeutics will post -0.31 earnings per share for the current year.

Institutional Investors Weigh In On ProQR Therapeutics

A number of institutional investors have recently added to or reduced their stakes in PRQR. Affinity Asset Advisors LLC lifted its holdings in shares of ProQR Therapeutics by 16.3% in the first quarter. Affinity Asset Advisors LLC now owns 3,284,512 shares of the biopharmaceutical company's stock worth $4,368,000 after buying an additional 459,512 shares in the last quarter. OneDigital Investment Advisors LLC lifted its stake in ProQR Therapeutics by 45.5% in the 1st quarter. OneDigital Investment Advisors LLC now owns 40,000 shares of the biopharmaceutical company's stock worth $53,000 after purchasing an additional 12,500 shares in the last quarter. Monaco Asset Management SAM grew its position in shares of ProQR Therapeutics by 59.1% during the first quarter. Monaco Asset Management SAM now owns 471,908 shares of the biopharmaceutical company's stock valued at $628,000 after purchasing an additional 175,290 shares in the last quarter. Vontobel Holding Ltd. bought a new stake in shares of ProQR Therapeutics in the first quarter worth about $48,000. Finally, Aberdeen Group plc purchased a new stake in shares of ProQR Therapeutics in the first quarter worth about $2,461,000. 32.65% of the stock is owned by hedge funds and other institutional investors.

About ProQR Therapeutics

ProQR Therapeutics N.V., a biotechnology company, focuses on the discovery and development of novel therapeutic medicines. The company's products pipeline includes AX-0810 for cholestatic diseases targeting Na-taurocholate cotransporting polypeptide (NTCP); and AX-1412 for cardiovascular diseases (CVDs) targeting Beta-1,4-galactosyltransferase 1 (B4GALT1).

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