In a report released today, Eliana Merle from Cantor Fitzgerald reiterated a Buy rating on ProQR (PRQR), with a price target of $40. The company’s shares opened today at $15.03.
Merle commented:
“. We reiterate our Overweight rating and $40 PT. We think the spin-out of the DEB program is a smart, but not surprising, strategic move. DEB (dystrophic epidermolysis bullosa) is a severe, rare skin disease. Given that the company has communicated it wants to focus on its ophthalmology programs, we do not think investors will find this announcement about the skin- program (DEB) spin-out surprising. We spoke to management and we think the spin- out, WINGS, is best-positioned to maximize the value of QR-313, as the WINGS team has meaningful expertise in DEB, whereas PRQR is building its resources around rare ophthalmology conditions.”
According to TipRanks.com, Merle has currently no stars on a ranking scale of 0-5 stars, with an average return of -12.2% and a 21.7% success rate. Merle covers the Healthcare sector, focusing on stocks such as Aerpio Pharmaceuticals Inc, CymaBay Therapeutics, and AnaptysBio Inc.
ProQR has an analyst consensus of Strong Buy, with a price target consensus of $28.33, which is an 88.5% upside from current levels. In a report issued on March 12, Chardan Capital also reiterated a Buy rating on the stock with a $25 price target.
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The company has a one-year high of $24 and a one-year low of $2.90. Currently, ProQR has an average volume of 313.2K.
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ProQR Therapeutics NV is a biopharmaceutical company, which engages in the discovery and development of Ribonucleic Acid RNA based therapeutics for the treatment of genetic disorders. Its initial focus is on the development of a disease-modifying therapy for the treatment of cystic fibrosis.
