Equities researchers at Maxim Group initiated coverage on shares of Proteon Therapeutics (NASDAQ:PRTO) in a research note issued to investors on Tuesday. The brokerage set a “buy” rating and a $5.00 price target on the biopharmaceutical company’s stock. Maxim Group’s price objective indicates a potential upside of 192.40% from the stock’s current price.
Separately, Zacks Investment Research raised Proteon Therapeutics from a “hold” rating to a “buy” rating and set a $3.00 price objective on the stock in a report on Wednesday, July 11th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Proteon Therapeutics currently has an average rating of “Buy” and an average price target of $3.50.
Shares of PRTO stock opened at $1.71 on Tuesday. The stock has a market capitalization of $28.36 million, a P/E ratio of -0.80 and a beta of 1.44. Proteon Therapeutics has a 52-week low of $1.50 and a 52-week high of $2.90.
An institutional investor recently raised its position in Proteon Therapeutics stock. Renaissance Technologies LLC raised its holdings in Proteon Therapeutics Inc (NASDAQ:PRTO) by 29.8% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 306,481 shares of the biopharmaceutical company’s stock after acquiring an additional 70,381 shares during the period. Renaissance Technologies LLC owned 1.73% of Proteon Therapeutics worth $751,000 at the end of the most recent reporting period. 50.56% of the stock is owned by institutional investors.
Proteon Therapeutics Company Profile
Proteon Therapeutics, Inc, a late-stage biopharmaceutical company, focuses on the development of pharmaceuticals to address the needs of patients with renal and vascular disease. Its lead product candidate is vonapanitase, an investigational drug intended to improve hemodialysis vascular access outcomes.
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