ProQR Therapeutics (NASDAQ:PRQR) Stock Price Passes Above 50-Day Moving Average - What's Next?

Key Points

• ProQR Therapeutics' stock price has recently surpassed its 50-day moving average at $2.07, trading as high as $2.15 before closing at $2.06.
• Wall Street analysts maintain a generally positive outlook for ProQR Therapeutics, with an average target price of $8.00 and most ratings being "buy" or "outperform."
• ProQR reported a loss of $0.11 earnings per share in its latest quarterly earnings, slightly missing analyst expectations, with projected earnings for the current year at -$0.31 per share.

ProQR Therapeutics N.V. (NASDAQ:PRQR - Get Free Report) passed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $2.07 and traded as high as $2.15. ProQR Therapeutics shares last traded at $2.06, with a volume of 117,443 shares traded.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on PRQR shares. Cantor Fitzgerald reiterated an "overweight" rating and issued a $8.00 price objective on shares of ProQR Therapeutics in a report on Friday, June 27th. Evercore ISI reiterated an "outperform" rating on shares of ProQR Therapeutics in a report on Friday, July 11th. JMP Securities reiterated a "market outperform" rating and issued a $8.00 price objective on shares of ProQR Therapeutics in a report on Friday, June 27th. Finally, Oppenheimer reduced their price objective on ProQR Therapeutics from $15.00 to $9.00 and set an "outperform" rating for the company in a report on Tuesday, May 13th. One 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's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $8.00.

ProQR Therapeutics Stock Performance

The stock has a market capitalization of $216.73 million, a PE ratio of -5.89 and a beta of 0.43. The stock has a 50-day moving average price of $2.07 and a two-hundred day moving average price of $1.88.

ProQR Therapeutics (NASDAQ:PRQR - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The biopharmaceutical company reported ($0.11) earnings per share for the quarter, missing analysts' consensus estimates of ($0.09) by ($0.02). ProQR Therapeutics had a negative net margin of 157.04% and a negative return on equity of 53.49%. The company had revenue of $4.89 million for the quarter, compared to analysts' expectations of $4.90 million. As a group, equities analysts predict that ProQR Therapeutics N.V. will post -0.31 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Adage Capital Partners GP L.L.C. lifted its holdings in ProQR Therapeutics by 164.9% in 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 purchasing an additional 5,976,813 shares in the last quarter. Woodline Partners LP purchased a new position in ProQR Therapeutics in the 4th quarter worth approximately $9,426,000. Affinity Asset Advisors LLC lifted its holdings in ProQR Therapeutics by 16.3% in the 1st quarter. Affinity Asset Advisors LLC now owns 3,284,512 shares of the biopharmaceutical company's stock worth $4,368,000 after purchasing an additional 459,512 shares in the last quarter. Millennium Management LLC lifted its holdings in ProQR Therapeutics by 1,864.4% in the 4th quarter. Millennium Management LLC now owns 2,827,280 shares of the biopharmaceutical company's stock worth $7,492,000 after purchasing an additional 2,683,351 shares in the last quarter. Finally, Aberdeen Group plc purchased a new position in ProQR Therapeutics in the 1st quarter worth approximately $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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