Oppenheimer Initiates Coverage on ProQR Therapeutics (NASDAQ:PRQR)

Research analysts at Oppenheimer began coverage on shares of ProQR Therapeutics (NASDAQ:PRQR) in a research report issued to clients and investors on Friday, Marketbeat reports. The firm set an “outperform” rating and a $15.00 price target on the biopharmaceutical company’s stock.

Other equities research analysts have also issued research reports about the stock. Chardan Capital reissued a “buy” rating and set a $4.00 price objective on shares of ProQR Therapeutics in a report on Thursday, December 12th. StockNews.com lowered shares of ProQR Therapeutics from a “hold” rating to a “sell” rating in a report on Thursday, November 28th. HC Wainwright reaffirmed a “buy” rating and set a $10.00 price objective on shares of ProQR Therapeutics in a report on Thursday, December 12th. JMP Securities reissued a “market outperform” rating and issued a $8.00 target price on shares of ProQR Therapeutics in a research note on Thursday, December 12th. Finally, Raymond James raised ProQR Therapeutics from an “outperform” rating to a “strong-buy” rating and upped their price target for the company from $6.00 to $14.00 in a research note on Tuesday, October 29th. One analyst has rated the stock with a sell rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $8.83.

ProQR Therapeutics Stock Performance

ProQR Therapeutics stock opened at $2.42 on Friday. ProQR Therapeutics has a 52 week low of $1.61 and a 52 week high of $4.62. The firm has a market cap of $197.67 million, a P/E ratio of -7.56 and a beta of 0.30. The business’s fifty day moving average is $3.23 and its two-hundred day moving average is $2.51.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. OneDigital Investment Advisors LLC increased 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 purchasing an additional 15,550 shares during the last quarter. BNP Paribas Financial Markets grew its position in shares of ProQR Therapeutics by 14.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 58,801 shares of the biopharmaceutical company’s stock worth $107,000 after buying an additional 7,300 shares during the period. Finally, Privium Fund Management B.V. raised its position in shares of ProQR Therapeutics by 0.9% in the 3rd quarter. Privium Fund Management B.V. now owns 5,632,388 shares of the biopharmaceutical company’s stock valued at $10,251,000 after acquiring an additional 51,663 shares during the period. 32.65% of the stock is currently owned by institutional investors.

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).