ProQR Therapeutics (NASDAQ:PRQR) Given Consensus Rating of “Buy” by Brokerages

ProQR Therapeutics (NASDAQ:PRQR) has been given a consensus recommendation of “Buy” by the six analysts that are currently covering the company, MarketBeat Ratings reports. Five investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $9.50.

A number of equities research analysts have recently commented on the stock. Chardan Capital reaffirmed a “buy” rating and issued a $4.00 target price on shares of ProQR Therapeutics in a report on Friday, March 14th. Oppenheimer started coverage on ProQR Therapeutics in a research report on Friday, January 10th. They set an “outperform” rating and a $15.00 price objective for the company. JMP Securities reissued a “market outperform” rating and issued a $8.00 target price on shares of ProQR Therapeutics in a report on Thursday, December 12th. Citigroup upgraded ProQR Therapeutics from a “neutral” rating to a “buy” rating and set a $4.00 price target for the company in a research note on Monday, March 10th. Finally, StockNews.com cut shares of ProQR Therapeutics from a “hold” rating to a “sell” rating in a research note on Thursday, November 28th.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Adage Capital Partners GP L.L.C. grew its stake in shares of ProQR Therapeutics by 164.9% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 9,602,280 shares of the biopharmaceutical company’s stock worth $25,446,000 after purchasing an additional 5,976,813 shares during the period. Woodline Partners LP purchased a new stake in ProQR Therapeutics during the fourth quarter worth about $9,426,000. Affinity Asset Advisors LLC acquired a new position in ProQR Therapeutics during the fourth quarter worth about $7,486,000. Millennium Management LLC increased its holdings in ProQR Therapeutics by 1,864.4% in the fourth quarter. Millennium Management LLC now owns 2,827,280 shares of the biopharmaceutical company’s stock valued at $7,492,000 after buying an additional 2,683,351 shares in the last quarter. Finally, Platinum Investment Management Ltd. purchased a new position in ProQR Therapeutics in the fourth quarter valued at about $4,076,000. Hedge funds and other institutional investors own 32.65% of the company’s stock.

ProQR Therapeutics Price Performance

PRQR stock opened at $1.65 on Friday. ProQR Therapeutics has a 12 month low of $1.59 and a 12 month high of $4.62. The company has a market cap of $134.77 million, a price-to-earnings ratio of -5.16 and a beta of 0.24. The company has a fifty day moving average price of $2.16 and a 200 day moving average price of $2.60.

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).