Citigroup Upgrades ProQR Therapeutics (NASDAQ:PRQR) to Buy

ProQR Therapeutics (NASDAQ:PRQR) was upgraded by stock analysts at Citigroup from a “neutral” rating to a “buy” rating in a report released on Monday,Briefing.com Automated Import reports. The brokerage presently has a $4.00 price target on the biopharmaceutical company’s stock. Citigroup’s price target points to a potential upside of 109.42% from the company’s previous close.

Other research analysts have also issued research reports about the company. JMP Securities reaffirmed a “market outperform” rating and set a $8.00 price objective on shares of ProQR Therapeutics in a research report on Thursday, December 12th. Oppenheimer assumed coverage on ProQR Therapeutics in a research note on Friday, January 10th. They issued an “outperform” rating and a $15.00 target price on the stock. StockNews.com lowered ProQR Therapeutics from a “hold” rating to a “sell” rating in a research report on Thursday, November 28th. Chardan Capital reissued a “buy” rating and set a $4.00 price objective on shares of ProQR Therapeutics in a research report on Thursday, December 12th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $10.00 target price on shares of ProQR Therapeutics in a report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $9.17.

ProQR Therapeutics Stock Performance

Shares of PRQR opened at $1.91 on Monday. ProQR Therapeutics has a fifty-two week low of $1.61 and a fifty-two week high of $4.62. The firm’s 50-day simple moving average is $2.34 and its two-hundred day simple moving average is $2.63. The stock has a market cap of $156.01 million, a PE ratio of -5.97 and a beta of 0.24.

Institutional Investors Weigh In On ProQR Therapeutics

Several institutional investors have recently modified their holdings of PRQR. OneDigital Investment Advisors LLC raised its stake in ProQR Therapeutics by 37.0% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 57,550 shares of the biopharmaceutical company’s stock valued at $105,000 after buying an additional 15,550 shares during the last quarter. BNP Paribas Financial Markets grew its stake 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 valued at $107,000 after purchasing an additional 7,300 shares during the period. Ballentine Partners LLC purchased a new stake in shares of ProQR Therapeutics during the 4th quarter valued at about $61,000. M&T Bank Corp bought a new position in shares of ProQR Therapeutics in the 4th quarter worth approximately $330,000. Finally, Raymond James Financial Inc. bought a new position in shares of ProQR Therapeutics in the 4th quarter worth approximately $260,000. 32.65% of the stock is owned by hedge funds and other institutional investors.

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).