Equities researchers at HC Wainwright started coverage on shares of Proteon Therapeutics Inc. (NASDAQ:PRTO) in a research note issued to investors on Thursday. The brokerage set a “buy” rating and a $18.00 price target on the biopharmaceutical company’s stock. HC Wainwright’s price objective points to a potential upside of 86.34% from the company’s current price.
Separately, Zacks Investment Research lowered Proteon Therapeutics from a “hold” rating to a “sell” rating in a report on Thursday, August 11th. One equities research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $20.80.
Shares of Proteon Therapeutics (NASDAQ:PRTO) opened at 9.66 on Thursday. Proteon Therapeutics has a 52-week low of $4.90 and a 52-week high of $17.76. The firm’s 50-day moving average is $9.17 and its 200-day moving average is $7.95. The firm’s market cap is $160.18 million.
Proteon Therapeutics (NASDAQ:PRTO) last posted its earnings results on Monday, August 8th. The biopharmaceutical company reported ($0.48) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.43) by $0.05. Analysts anticipate that Proteon Therapeutics will post ($1.85) earnings per share for the current year.
Several hedge funds have recently modified their holdings of PRTO. State Street Corp increased its stake in shares of Proteon Therapeutics by 58.8% in the first quarter. State Street Corp now owns 94,432 shares of the biopharmaceutical company’s stock worth $729,000 after buying an additional 34,952 shares during the period. Geode Capital Management LLC increased its stake in Proteon Therapeutics by 6.3% in the first quarter. Geode Capital Management LLC now owns 45,412 shares of the biopharmaceutical company’s stock worth $351,000 after buying an additional 2,685 shares during the last quarter. TFS Capital LLC purchased a new stake in Proteon Therapeutics during the second quarter worth $206,000. Bridgeway Capital Management Inc. increased its stake in Proteon Therapeutics by 211.2% in the second quarter. Bridgeway Capital Management Inc. now owns 36,835 shares of the biopharmaceutical company’s stock worth $296,000 after buying an additional 25,000 shares during the last quarter. Finally, Deerfield Management Co. increased its stake in Proteon Therapeutics by 22.7% in the second quarter. Deerfield Management Co. now owns 1,552,031 shares of the biopharmaceutical company’s stock worth $12,463,000 after buying an additional 286,688 shares during the last quarter. Hedge funds and other institutional investors own 51.54% of the company’s stock.
About Proteon Therapeutics
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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