ProQR Therapeutics (NASDAQ:PRQR) Upgraded to Strong-Buy at Raymond James

ProQR Therapeutics (NASDAQ:PRQR) was upgraded by equities researchers at Raymond James from an “outperform” rating to a “strong-buy” rating in a note issued to investors on Tuesday, Briefing.com reports. The firm 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 objective would suggest a potential upside of 322.96% from the stock’s previous close.

ProQR Therapeutics Stock Performance

PRQR stock opened at $3.31 on Tuesday. The stock’s 50 day simple moving average is $2.23 and its 200 day simple moving average is $2.00. The company has a market cap of $270.36 million, a P/E ratio of -11.41 and a beta of 0.39. ProQR Therapeutics has a fifty-two week low of $1.13 and a fifty-two week high of $4.62.

ProQR Therapeutics (NASDAQ:PRQR) last issued its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.09. The company had revenue of $6.79 million for the quarter, compared to analysts’ expectations of $3.32 million. ProQR Therapeutics had a negative return on equity of 55.42% and a negative net margin of 140.17%. Equities analysts predict that ProQR Therapeutics will post -0.31 earnings per share for the current year.

Institutional Investors Weigh In On ProQR Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the business. EP Wealth Advisors LLC purchased a new stake in shares of ProQR Therapeutics in the first quarter worth approximately $26,000. Acadian Asset Management LLC purchased a new stake in ProQR Therapeutics in the 1st quarter valued at $56,000. BNP Paribas Financial Markets raised its position in ProQR Therapeutics by 120.1% in the 1st quarter. BNP Paribas Financial Markets now owns 35,001 shares of the biopharmaceutical company’s stock valued at $80,000 after buying an additional 19,100 shares during the last quarter. Ikarian Capital LLC boosted its holdings in ProQR Therapeutics by 2.3% during the 1st quarter. Ikarian Capital LLC now owns 483,583 shares of the biopharmaceutical company’s stock worth $1,098,000 after acquiring an additional 10,958 shares during the last quarter. Finally, Privium Fund Management B.V. boosted its holdings 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 worth $9,208,000 after acquiring an additional 236,279 shares during the last quarter. 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).