Brokerages Set ProQR Therapeutics N.V. (NASDAQ:PRQR) Target Price at $8.00

Key Points

• ProQR Therapeutics N.V. (NASDAQ:PRQR) has received a consensus rating of "Buy" from eight brokerages, with seven analysts recommending a buy and one giving a strong buy rating.
• Institutional investors are showing increased interest, with Osaic Holdings increasing their stake by 59.6% and BNP Paribas Financial Markets by 28.4% during the second quarter.
• For its most recent quarter, ProQR reported losses of $0.14 per share, missing estimates, with revenues of $4.33 million against a consensus of $5.01 million.

Shares of ProQR Therapeutics N.V. (NASDAQ:PRQR - Get Free Report) have been assigned a consensus rating of "Buy" from the eight ratings firms that are covering the company, Marketbeat reports. Seven equities research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $8.00.

Several equities analysts have recently issued reports on the company. Cantor Fitzgerald reiterated an "overweight" rating and issued a $8.00 price objective on shares of ProQR Therapeutics in a research note on Friday, June 27th. Chardan Capital reiterated a "buy" rating and issued a $4.00 price objective on shares of ProQR Therapeutics in a research note on Friday, August 8th. Evercore ISI reiterated an "outperform" rating on shares of ProQR Therapeutics in a research note on Friday, July 11th. Finally, JMP Securities reiterated a "market outperform" rating and issued a $8.00 price objective on shares of ProQR Therapeutics in a research note on Friday, June 27th.

ProQR Therapeutics Trading Down 9.1%

ProQR Therapeutics stock traded down $0.20 during midday trading on Friday, reaching $1.99. 437,957 shares of the stock traded hands, compared to its average volume of 364,090. The company has a 50-day simple moving average of $2.21 and a two-hundred day simple moving average of $1.85. ProQR Therapeutics has a 12-month low of $1.07 and a 12-month high of $4.62. The firm has a market cap of $209.37 million, a PE ratio of -4.33 and a beta of 0.36.

ProQR Therapeutics (NASDAQ:PRQR - Get Free Report) last announced its earnings results on Thursday, August 7th. The biopharmaceutical company reported ($0.14) 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 analysts' expectations of $5.01 million. ProQR Therapeutics had a negative net margin of 238.52% and a negative return on equity of 61.25%. Equities research analysts anticipate that ProQR Therapeutics will post -0.31 earnings per share for the current year.

Institutional Investors Weigh In On ProQR Therapeutics

Several institutional investors have recently added to or reduced their stakes in PRQR. Woodline Partners LP purchased a new stake in ProQR Therapeutics during the fourth quarter worth approximately $9,426,000. Millennium Management LLC increased its position in ProQR Therapeutics by 1,864.4% during the fourth quarter. Millennium Management LLC now owns 2,827,280 shares of the biopharmaceutical company's stock worth $7,492,000 after buying an additional 2,683,351 shares during the period. Aberdeen Group plc acquired a new position in ProQR Therapeutics during the first quarter worth approximately $2,461,000. Point72 Asset Management L.P. acquired a new position in ProQR Therapeutics during the fourth quarter worth approximately $3,952,000. Finally, Affinity Asset Advisors LLC increased its position in ProQR Therapeutics by 16.3% during 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 during the period. Hedge funds and other 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).