JMP Securities Reaffirms Market Outperform Rating for ProQR Therapeutics (NASDAQ:PRQR)

ProQR Therapeutics (NASDAQ:PRQR)‘s stock had its “market outperform” rating reiterated by analysts at JMP Securities in a research report issued to clients and investors on Thursday,Benzinga reports. They presently have a $8.00 price target on the biopharmaceutical company’s stock. JMP Securities’ price target would suggest a potential upside of 182.69% from the stock’s current price.

PRQR has been the subject of a number of other reports. StockNews.com cut ProQR Therapeutics from a “hold” rating to a “sell” rating in a research note on Thursday, November 28th. Chardan Capital reaffirmed a “buy” rating and issued a $4.00 target price on shares of ProQR Therapeutics in a research report on Thursday. Raymond James raised shares of ProQR Therapeutics from an “outperform” rating to a “strong-buy” rating and increased their price target for the stock from $6.00 to $14.00 in a research report on Tuesday, October 29th. Finally, HC Wainwright restated a “buy” rating and issued a $10.00 price objective on shares of ProQR Therapeutics in a report on Thursday. One research analyst has rated the stock with a sell rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, ProQR Therapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $7.60.

ProQR Therapeutics Stock Performance

NASDAQ:PRQR opened at $2.83 on Thursday. ProQR Therapeutics has a fifty-two week low of $1.61 and a fifty-two week high of $4.62. The company has a 50 day moving average price of $3.39 and a 200 day moving average price of $2.38. The stock has a market capitalization of $231.15 million, a P/E ratio of -8.84 and a beta of 0.24.

Hedge Funds Weigh In On ProQR Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in PRQR. OneDigital Investment Advisors LLC raised its holdings in ProQR Therapeutics by 37.0% in the third quarter. OneDigital Investment Advisors LLC now owns 57,550 shares of the biopharmaceutical company’s stock valued at $105,000 after acquiring an additional 15,550 shares in the last quarter. BNP Paribas Financial Markets increased its position in shares of ProQR Therapeutics by 14.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 58,801 shares of the biopharmaceutical company’s stock valued at $107,000 after purchasing an additional 7,300 shares during the last quarter. Finally, Privium Fund Management B.V. increased its position in shares of ProQR Therapeutics by 4.4% in the 2nd quarter. Privium Fund Management B.V. now owns 5,580,725 shares of the biopharmaceutical company’s stock valued at $9,208,000 after purchasing an additional 236,279 shares during the last quarter. Hedge funds and other institutional investors 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).