ProQR Therapeutics (NASDAQ:PRQR) Rating Increased to Hold at Wall Street Zen

Key Points

• Wall Street Zen upgraded ProQR Therapeutics from “strong sell” to “hold,” while broader analyst coverage remains more positive with a consensus “Moderate Buy” rating and an average price target of $7.33.
• PRQR shares rose 3.8% to $1.92, but the company continues to report significant losses, including a negative net margin of 331.33% and quarterly revenue of $2.35 million versus expectations of $5.19 million.
• Company insiders showed confidence by purchasing 600,000 shares worth approximately $988,500 over the past 90 days; insiders own 8.40% of the stock, while institutions and hedge funds own 32.65%.

ProQR Therapeutics (NASDAQ:PRQR - Get Free Report) was upgraded by analysts at Wall Street Zen from a "strong sell" rating to a "hold" rating in a research note issued on Saturday.

PRQR has been the subject of a number of other reports. Weiss Ratings lowered shares of ProQR Therapeutics from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Tuesday, June 23rd. Citigroup restated a "market outperform" rating on shares of ProQR Therapeutics in a research note on Wednesday, May 27th. Chardan Capital cut their price objective on ProQR Therapeutics from $4.00 to $3.00 and set a "buy" rating for the company in a report on Friday, June 26th. Finally, JonesTrading reduced their price objective on ProQR Therapeutics from $11.00 to $10.00 and set a "buy" rating for the company in a research report on Friday, June 26th. Four 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's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $7.33.

ProQR Therapeutics Stock Up 3.8%

Shares of NASDAQ PRQR opened at $1.92 on Friday. The firm's 50-day moving average price is $1.74 and its 200-day moving average price is $1.66. ProQR Therapeutics has a 52-week low of $1.33 and a 52-week high of $3.10. The company has a market cap of $202.29 million, a PE ratio of -3.84 and a beta of 0.07.

ProQR Therapeutics (NASDAQ:PRQR - Get Free Report) last released its quarterly earnings data on Tuesday, May 12th. The biopharmaceutical company reported ($0.15) earnings per share for the quarter, meeting the consensus estimate of ($0.15). ProQR Therapeutics had a negative net margin of 331.33% and a negative return on equity of 84.87%. The firm had revenue of $2.35 million during the quarter, compared to analysts' expectations of $5.19 million. As a group, equities research analysts anticipate that ProQR Therapeutics will post -0.52 EPS for the current fiscal year.

Insider Transactions at ProQR Therapeutics

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

Hedge Funds Weigh In On ProQR Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the stock. Osaic Holdings Inc. increased its position in ProQR Therapeutics by 59.6% during the second quarter. Osaic Holdings Inc. now owns 12,050 shares of the biopharmaceutical company's stock valued at $25,000 after acquiring an additional 4,500 shares during the last quarter. Guggenheim Capital LLC bought a new stake in shares of ProQR Therapeutics in the 4th quarter worth about $35,000. Invesco Ltd. bought a new stake in shares of ProQR Therapeutics in the 4th quarter worth about $51,000. Axiom Investment Management LLC bought a new stake in shares of ProQR Therapeutics in the 1st quarter worth about $53,000. Finally, Simplex Trading LLC boosted its stake in shares of ProQR Therapeutics by 44,169.0% during the 4th quarter. Simplex Trading LLC now owns 44,269 shares of the biopharmaceutical company's stock worth $89,000 after purchasing an additional 44,169 shares during the period. Hedge funds and other institutional investors own 32.65% of the company's stock.

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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