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

ProQR Therapeutics (NASDAQ:PRQR - Get Free Report) was upgraded by analysts at Raymond James from an "outperform" rating to a "strong-buy" rating in a research note issued on Tuesday, Marketbeat reports. The brokerage currently has a $14.00 target price on the biopharmaceutical company's stock, up from their previous target price of $6.00. Raymond James' price target points to a potential upside of 305.80% from the stock's current price.

ProQR Therapeutics Stock Up 4.2 %

Shares of ProQR Therapeutics stock traded up $0.14 during trading on Tuesday, reaching $3.45. The company's stock had a trading volume of 1,384,555 shares, compared to its average volume of 517,995. ProQR Therapeutics has a 12-month low of $1.13 and a 12-month high of $4.62. The company has a market capitalization of $281.80 million, a P/E ratio of -12.66 and a beta of 0.39. The business has a 50 day moving average price of $2.23 and a 200-day moving average price of $2.00.

ProQR Therapeutics (NASDAQ:PRQR - Get Free Report) last posted its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.03) earnings per share for the quarter, beating analysts' consensus estimates of ($0.12) by $0.09. The firm had revenue of $6.79 million for the quarter, compared to the consensus estimate of $3.32 million. ProQR Therapeutics had a negative return on equity of 55.42% and a negative net margin of 140.17%. Research analysts predict that ProQR Therapeutics will post -0.31 EPS for the current fiscal year.

Hedge Funds Weigh In On ProQR Therapeutics

Institutional investors have recently made changes to their positions in the stock. EP Wealth Advisors LLC acquired a new position in shares of ProQR Therapeutics in the first quarter worth $26,000. Acadian Asset Management LLC acquired a new position in shares of ProQR Therapeutics in the first quarter worth $56,000. BNP Paribas Financial Markets raised 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 worth $80,000 after acquiring an additional 19,100 shares during the last quarter. Ikarian Capital LLC raised its holdings in shares of ProQR Therapeutics by 2.3% in the first 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. raised its holdings in shares of ProQR Therapeutics by 4.4% in the second 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. 32.65% of the stock is owned by institutional investors and hedge funds.

ProQR Therapeutics Company Profile

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).