Royal Bank of Canada Reiterates Buy Rating for ProQR Therapeutics (NASDAQ:PRQR)

ProQR Therapeutics (NASDAQ:PRQR)‘s stock had its “buy” rating reiterated by Royal Bank of Canada in a research report issued to clients and investors on Sunday, August 11th, Stock Target Advisor reports. They currently have a $27.00 price target on the biopharmaceutical company’s stock. Royal Bank of Canada’s price objective would suggest a potential upside of 275.52% from the stock’s previous close.

Several other equities analysts have also recently weighed in on PRQR. BidaskClub cut shares of ProQR Therapeutics from a “sell” rating to a “strong sell” rating in a research report on Wednesday, July 3rd. Zacks Investment Research raised shares of ProQR Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday, July 10th. Finally, ValuEngine lowered shares of ProQR Therapeutics from a “buy” rating to a “hold” rating in a research note on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. ProQR Therapeutics presently has a consensus rating of “Buy” and a consensus price target of $27.00.

PRQR traded down $0.26 during trading on Friday, reaching $7.19. 220,844 shares of the stock traded hands, compared to its average volume of 119,865. The stock has a market capitalization of $279.48 million, a PE ratio of -5.57 and a beta of 0.11. The stock’s 50-day moving average is $8.31 and its 200 day moving average is $11.27. The company has a quick ratio of 9.51, a current ratio of 9.51 and a debt-to-equity ratio of 0.16. ProQR Therapeutics has a 12 month low of $7.03 and a 12 month high of $24.00.

A number of institutional investors have recently added to or reduced their stakes in the stock. Barclays PLC purchased a new position in shares of ProQR Therapeutics in the fourth quarter valued at about $51,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its position in shares of ProQR Therapeutics by 22.7% during the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 8,556 shares of the biopharmaceutical company’s stock valued at $119,000 after buying an additional 1,585 shares during the period. Tower Research Capital LLC TRC purchased a new position in shares of ProQR Therapeutics during the second quarter valued at about $79,000. Deutsche Bank AG purchased a new position in shares of ProQR Therapeutics during the fourth quarter valued at about $137,000. Finally, Jane Street Group LLC purchased a new position in shares of ProQR Therapeutics during the second quarter valued at about $92,000. Institutional investors and hedge funds own 60.34% of the company’s stock.

ProQR Therapeutics Company Profile

ProQR Therapeutics N.V., a biopharmaceutical company, engages in the discovery and development of RNA-based therapeutics for the treatment of genetic disorders. Its lead product candidates include eluforsen, a RNA-based oligonucleotide used for the treatment of cystic fibrosis; QR-110, an oligonucleotide that is designed to treat Leber's congenital amaurosis; QR-313, a dermatology candidate for the treatment of epidermolysis bullosa; and QR-421a and QR-411 to treat type 2A Usher syndrome.

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Analyst Recommendations for ProQR Therapeutics (NASDAQ:PRQR)

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