Zacks Investment Research Downgrades Proteon Therapeutics (NASDAQ:PRTO) to Sell

Zacks Investment Research cut shares of Proteon Therapeutics (NASDAQ:PRTO) from a hold rating to a sell rating in a research report released on Friday, reports.

According to Zacks, “Proteon Therapeutics Inc. is a biopharmaceutical company. The Company is developing pharmaceuticals to address the medical needs of patients with kidney and vascular diseases. It is developing PRT-201, a recombinant human elastase, applied in a single treatment to the external surface of arteries and veins during an open surgical procedure or an endovascular intervention. Proteon Therapeutics Inc. is headquartered in Waltham, Mass. “

NASDAQ:PRTO opened at $0.33 on Friday. The firm has a market capitalization of $6.96 million, a price-to-earnings ratio of -0.29 and a beta of 0.46. Proteon Therapeutics has a 52-week low of $0.27 and a 52-week high of $3.94. The stock has a fifty day moving average of $0.33 and a 200 day moving average of $0.75.

Proteon Therapeutics (NASDAQ:PRTO) last posted its quarterly earnings data on Wednesday, August 7th. The biopharmaceutical company reported ($0.27) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by ($0.21). On average, equities analysts predict that Proteon Therapeutics will post -0.78 earnings per share for the current year.

An institutional investor recently raised its position in Proteon Therapeutics stock. Wedbush Securities Inc. boosted its holdings in shares of Proteon Therapeutics Inc (NASDAQ:PRTO) by 76.3% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 104,000 shares of the biopharmaceutical company’s stock after buying an additional 45,000 shares during the period. Wedbush Securities Inc. owned approximately 0.53% of Proteon Therapeutics worth $43,000 as of its most recent SEC filing. 24.00% of the stock is owned by institutional investors and hedge funds.

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 enhance hemodialysis vascular access outcomes.

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