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

Raymond James upgraded shares of ProQR Therapeutics (NASDAQ:PRQR) from an outperform rating to a strong-buy rating in a research report sent to investors on Tuesday morning, MarketBeat Ratings reports. The firm currently has $14.00 target price on the biopharmaceutical company’s stock, up from their prior target price of $6.00.

ProQR Therapeutics Stock Performance

ProQR Therapeutics stock opened at $3.45 on Tuesday. ProQR Therapeutics has a 52 week low of $1.13 and a 52 week high of $4.62. The stock has a market capitalization of $281.80 million, a P/E ratio of -11.90 and a beta of 0.39. The stock has a fifty day moving average of $2.23 and a 200-day moving average of $2.00.

ProQR Therapeutics (NASDAQ:PRQR) last issued its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.12) by $0.09. The firm had revenue of $6.79 million during 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%. On average, research analysts forecast that ProQR Therapeutics will post -0.31 earnings per share for the current year.

Institutional Trading of ProQR Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. EP Wealth Advisors LLC bought a new position in shares of ProQR Therapeutics in the 1st quarter valued at $26,000. Acadian Asset Management LLC acquired a new position in ProQR Therapeutics in the 1st quarter worth about $56,000. BNP Paribas Financial Markets raised its position in ProQR Therapeutics by 120.1% in the first quarter. BNP Paribas Financial Markets now owns 35,001 shares of the biopharmaceutical company’s stock valued at $80,000 after purchasing an additional 19,100 shares during the last quarter. Ikarian Capital LLC boosted its stake in shares of ProQR Therapeutics by 2.3% during the first quarter. Ikarian Capital LLC now owns 483,583 shares of the biopharmaceutical company’s stock valued at $1,098,000 after purchasing an additional 10,958 shares in the last quarter. Finally, Privium Fund Management B.V. grew its holdings in shares of ProQR Therapeutics by 4.4% during 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 purchasing an additional 236,279 shares during the last quarter. 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).