In a report released today, Jason McCarthy from Maxim Group maintained a Buy rating on Proteon (PRTO), with a price target of $5. The company’s shares opened today at $1.73, close to its 52-week low of $1.50.
McCarthy noted:
“Proteon reported 3Q18 with a net loss of ($4.5M) and ended the period with $26.2M in cash on the balance sheet. At the current burn rate, Proteon has runway into early 2020.”
According to TipRanks.com, McCarthy is a 4-star analyst with an average return of 5.1% and a 39.9% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as SELLAS Life Sciences Group Inc, ContraVir Pharmaceuticals Inc, and Sonoma Pharmaceuticals Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Proteon with a $4 average 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 60.18K.
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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.
