ProQR Therapeutics (NASDAQ:PRQR) Upgraded by Raymond James to Strong-Buy Rating

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

ProQR Therapeutics Price Performance

NASDAQ:PRQR opened at $3.50 on Tuesday. ProQR Therapeutics has a twelve month low of $1.13 and a twelve month high of $4.62. The company’s 50 day moving average is $2.32 and its two-hundred day moving average is $2.03.

ProQR Therapeutics (NASDAQ:PRQR) last announced its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($0.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.09. The firm had revenue of $6.79 million for the quarter, compared to analyst estimates of $3.32 million. ProQR Therapeutics had a negative net margin of 140.17% and a negative return on equity of 55.42%. As a group, research analysts forecast that ProQR Therapeutics will post -0.31 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ProQR Therapeutics

A number of institutional investors have recently bought and sold shares of the business. BNP Paribas Financial Markets grew its position in ProQR Therapeutics by 120.1% during the 1st quarter. BNP Paribas Financial Markets now owns 35,001 shares of the biopharmaceutical company’s stock worth $80,000 after purchasing an additional 19,100 shares during the period. Acadian Asset Management LLC purchased a new stake in shares of ProQR Therapeutics in the first quarter worth about $56,000. EP Wealth Advisors LLC acquired a new stake in ProQR Therapeutics during the first quarter worth about $26,000. Ikarian Capital LLC raised its position in 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 acquiring an additional 10,958 shares in the last quarter. Finally, Privium Fund Management B.V. lifted its holdings in ProQR Therapeutics by 4.4% in the second quarter. Privium Fund Management B.V. now owns 5,580,725 shares of the biopharmaceutical company’s stock valued at $9,208,000 after acquiring an additional 236,279 shares during the period. 32.65% of the stock is owned by hedge funds and other 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).