Proteon Therapeutics Inc (NASDAQ:PRTO) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday. The firm currently has a $2.00 target price on the biopharmaceutical company’s stock. Zacks Investment Research’s target price would suggest a potential upside of 21.21% from the stock’s current price.
According to Zacks, “Proteon Therapeutics Inc. is a biopharmaceutical company. The Company is developing pharmaceuticals to address the medical needs of patients with kidney and vascular diseases. It is developing PRT-201, a recombinant human elastase, applied in a single treatment to the external surface of arteries and veins during an open surgical procedure or an endovascular intervention. Proteon Therapeutics Inc. is headquartered in Waltham, Mass. “
A number of other research firms have also recently issued reports on PRTO. Oppenheimer Holdings Inc. set a $21.00 price target on Proteon Therapeutics and gave the stock a “buy” rating in a report on Thursday, December 1st. Robert W. Baird cut Proteon Therapeutics from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $20.00 to $3.00 in a report on Tuesday, December 13th. Cowen and Company cut Proteon Therapeutics from an “outperform” rating to a “market perform” rating in a report on Wednesday, December 14th. Maxim Group increased their price target on Proteon Therapeutics from $6.00 to $19.00 and gave the stock a “buy” rating in a report on Wednesday, December 14th. Finally, JMP Securities cut Proteon Therapeutics from an “outperform” rating to a “market perform” rating in a report on Wednesday, December 14th. Seven investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Proteon Therapeutics has an average rating of “Hold” and a consensus target price of $8.14.
Proteon Therapeutics (NASDAQ:PRTO) opened at 1.65 on Tuesday. The stock’s market cap is $27.38 million. The company has a 50 day moving average price of $1.87 and a 200 day moving average price of $5.83. Proteon Therapeutics has a 52 week low of $1.40 and a 52 week high of $11.63.
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Institutional investors have recently modified their holdings of the company. Spark Investment Management LLC purchased a new position in shares of Proteon Therapeutics during the third quarter worth about $107,000. Perceptive Advisors LLC purchased a new position in shares of Proteon Therapeutics during the fourth quarter worth about $635,000. Pharmstandard International S.A. purchased a new position in shares of Proteon Therapeutics during the fourth quarter worth about $2,214,000. Finally, Baker BROS. Advisors LP purchased a new position in shares of Proteon Therapeutics during the third quarter worth about $2,786,000. Institutional investors own 49.28% of the company’s stock.
Proteon Therapeutics Company Profile
Proteon Therapeutics, Inc is a late-stage biopharmaceutical company, which focuses on the development of pharmaceuticals to address the needs of patients with renal and vascular disease. The Company is involved in research and development activities. The Company’s product candidate, product candidate, vonapanitase, formerly PRT-201, is a recombinant human elastase that it is developing to manage vascular access failure in patients with chronic kidney disease undergoing or planning for hemodialysis, a lifesaving treatment that cannot be conducted without a functioning vascular access.
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