ProQR Therapeutics (NASDAQ:PRQR) Upgraded at Raymond James

ProQR Therapeutics (NASDAQ:PRQR) was upgraded by equities research analysts at Raymond James from an “outperform” rating to a “strong-buy” rating in a research note issued on Tuesday, Marketbeat.com reports. The brokerage currently has a $14.00 target price on the biopharmaceutical company’s stock, up from their prior target price of $6.00. Raymond James’ price target would indicate a potential upside of 282.51% from the company’s current price.

ProQR Therapeutics Price Performance

ProQR Therapeutics stock opened at $3.66 on Tuesday. ProQR Therapeutics has a 1-year low of $1.13 and a 1-year high of $4.62. The business has a fifty day moving average price of $2.26 and a 200-day moving average price of $2.01. The stock has a market capitalization of $298.95 million, a price-to-earnings ratio of -12.62 and a beta of 0.39.

ProQR Therapeutics (NASDAQ:PRQR) last issued its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.12) by $0.09. ProQR Therapeutics had a negative return on equity of 55.42% and a negative net margin of 140.17%. The business had revenue of $6.79 million during the quarter, compared to the consensus estimate of $3.32 million. On average, equities research analysts anticipate that ProQR Therapeutics will post -0.31 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Ikarian Capital LLC grew its holdings in shares of ProQR Therapeutics by 2.3% during the first quarter. Ikarian Capital LLC now owns 483,583 shares of the biopharmaceutical company’s stock valued at $1,098,000 after buying an additional 10,958 shares during the last quarter. EP Wealth Advisors LLC purchased a new stake in ProQR Therapeutics during the 1st quarter valued at about $26,000. BNP Paribas Financial Markets increased its holdings in shares of ProQR Therapeutics by 120.1% in the first quarter. BNP Paribas Financial Markets now owns 35,001 shares of the biopharmaceutical company’s stock valued at $80,000 after purchasing an additional 19,100 shares during the period. Acadian Asset Management LLC purchased a new position in shares of ProQR Therapeutics in the first quarter worth about $56,000. Finally, Privium Fund Management B.V. lifted its stake in ProQR Therapeutics by 4.4% during the 2nd quarter. Privium Fund Management B.V. now owns 5,580,725 shares of the biopharmaceutical company’s stock valued at $9,208,000 after acquiring an additional 236,279 shares during the period. Institutional investors and hedge funds 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).