In a report issued on November 7, Kumaraguru Raja from Brookline Capital Markets maintained a Buy rating on Proteon (PRTO), with a price target of $10. The company’s shares closed on Friday at $1.73, close to its 52-week low of $1.50.
Raja said:
“Proteon reported its financial results for 3Q18. Phase 3 PATENCY-2 trial is making progress and patients are being followed, it is on track for top-line data in March 2019. We see a favorable risk-reward and expect investor interest to increase going into the data announcement event. The present stock price provides for an attractive entry opportunity.”
According to TipRanks.com, Raja is a 1-star analyst with an average return of -4.3% and a 44.4% success rate. Raja covers the Healthcare sector, focusing on stocks such as Arcturus Therapeutics Ltd, Corbus Pharmaceuticals, and Acer Therapeutics Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Proteon with a $5 average price target, a 189.0% upside from current levels. In a report issued on October 30, Maxim Group also initiated coverage with a Buy rating on the stock with a $5 price target.
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The company has a one-year high of $2.90 and a one-year low of $1.50. Currently, Proteon has an average volume of 58.68K.
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Proteon Therapeutics, Inc. engages in the research and development of biopharmaceutical products. It produces and commercializes vonapanitase for the treatment of renal and vascular disease. The company was founded by F. Nicholas Franano and William P. Whitaker in 2001 and is headquartered in Waltham, MA.
