Brokerages Set ProQR Therapeutics (NASDAQ:PRQR) PT at $9.50

Shares of ProQR Therapeutics (NASDAQ:PRQR) have earned a consensus recommendation of “Buy” from the six research firms that are presently covering the stock, MarketBeat.com reports. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $9.50.

PRQR has been the topic of a number of analyst reports. HC Wainwright lifted their price target on ProQR Therapeutics from $10.00 to $12.00 and gave the stock a “buy” rating in a research note on Friday, March 14th. Oppenheimer assumed coverage on ProQR Therapeutics in a research report on Friday, January 10th. They issued an “outperform” rating and a $15.00 target price on the stock. Chardan Capital reiterated a “buy” rating and issued a $4.00 price objective on shares of ProQR Therapeutics in a report on Friday, March 14th. Finally, Citigroup upgraded shares of ProQR Therapeutics from a “neutral” rating to a “buy” rating and set a $4.00 target price on the stock in a report on Monday, March 10th.

ProQR Therapeutics Price Performance

NASDAQ PRQR opened at $1.14 on Wednesday. The company has a market capitalization of $119.94 million, a P/E ratio of -3.56 and a beta of 0.25. The company’s 50 day simple moving average is $1.74 and its 200 day simple moving average is $2.52. ProQR Therapeutics has a 12 month low of $1.07 and a 12 month high of $4.62.

Institutional Investors Weigh In On ProQR Therapeutics

Several hedge funds have recently made changes to their positions in PRQR. Adage Capital Partners GP L.L.C. increased its stake in ProQR Therapeutics by 164.9% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 9,602,280 shares of the biopharmaceutical company’s stock valued at $25,446,000 after acquiring an additional 5,976,813 shares during the period. Woodline Partners LP acquired a new position in ProQR Therapeutics during the 4th quarter worth $9,426,000. Affinity Asset Advisors LLC acquired a new stake in ProQR Therapeutics in the fourth quarter worth about $7,486,000. Millennium Management LLC raised its stake in shares of ProQR Therapeutics by 1,864.4% during the fourth quarter. Millennium Management LLC now owns 2,827,280 shares of the biopharmaceutical company’s stock worth $7,492,000 after buying an additional 2,683,351 shares during the last quarter. Finally, Platinum Investment Management Ltd. acquired a new position in shares of ProQR Therapeutics in the 4th quarter valued at $4,076,000. Institutional investors own 32.65% of the company’s stock.

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).