ProQR Therapeutics (NASDAQ:PRQR) Earns Buy Rating from Chardan Capital

Key Points

• Chardan Capital reissued a "buy" rating for ProQR Therapeutics, setting a price target of $4.00, indicating a potential upside of 95.12% from its current stock price.
• ProQR Therapeutics recently reported a quarterly EPS of ($0.11), missing estimates, with revenue of $4.89 million for the quarter, falling short of the anticipated $4.90 million.
• Institutional investors now hold approximately 32.65% of ProQR Therapeutics' stock, reflecting growing interest in the company among major investment firms.

Chardan Capital reaffirmed their buy rating on shares of ProQR Therapeutics (NASDAQ:PRQR - Free Report) in a report issued on Friday morning,Benzinga reports. The brokerage currently has a $4.00 price target on the biopharmaceutical company's stock.

Several other research firms also recently commented on PRQR. Oppenheimer decreased their target price on shares of ProQR Therapeutics from $15.00 to $9.00 and set an "outperform" rating for the company in a research report on Tuesday, May 13th. Evercore ISI restated an "outperform" rating on shares of ProQR Therapeutics in a research note on Friday, July 11th. Cantor Fitzgerald restated an "overweight" rating and issued a $8.00 price objective on shares of ProQR Therapeutics in a research note on Friday, June 27th. Finally, JMP Securities restated a "market outperform" rating and issued a $8.00 price objective on shares of ProQR Therapeutics in a research note on Friday, June 27th. One research analyst has rated the stock with a sell rating, seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $8.00.

ProQR Therapeutics Trading Up 1.3%

Shares of NASDAQ PRQR traded up $0.03 during midday trading on Friday, reaching $1.92. The company's stock had a trading volume of 390,249 shares, compared to its average volume of 426,260. The company has a 50 day moving average price of $2.09 and a 200 day moving average price of $1.87. ProQR Therapeutics has a one year low of $1.07 and a one year high of $4.62. The company has a market cap of $201.48 million, a price-to-earnings ratio of -4.18 and a beta of 0.43.

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

Institutional Investors Weigh In On ProQR Therapeutics

A number of hedge funds have recently added to or reduced their stakes in PRQR. Adage Capital Partners GP L.L.C. grew its holdings in ProQR Therapeutics by 164.9% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 9,602,280 shares of the biopharmaceutical company's stock worth $25,446,000 after acquiring an additional 5,976,813 shares during the last quarter. Woodline Partners LP bought a new stake in ProQR Therapeutics during the 4th quarter worth about $9,426,000. Affinity Asset Advisors LLC bought a new stake in ProQR Therapeutics during the 4th quarter worth about $7,486,000. Millennium Management LLC grew its holdings in ProQR Therapeutics by 1,864.4% during the 4th quarter. Millennium Management LLC now owns 2,827,280 shares of the biopharmaceutical company's stock worth $7,492,000 after acquiring an additional 2,683,351 shares during the last quarter. Finally, Aberdeen Group plc bought a new stake in ProQR Therapeutics during the 1st quarter worth about $2,461,000. Institutional investors own 32.65% of the company's stock.

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).