Proteon Therapeutics Inc. (NASDAQ:PRTO) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday.
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. “
Separately, HC Wainwright began coverage on Proteon Therapeutics in a research note on Thursday, September 22nd. They issued a “buy” rating and a $18.00 price objective for the company. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Proteon Therapeutics has a consensus rating of “Buy” and a consensus price target of $20.80.
Shares of Proteon Therapeutics (NASDAQ:PRTO) opened at 8.93 on Wednesday. Proteon Therapeutics has a 52 week low of $4.90 and a 52 week high of $17.76. The stock’s market capitalization is $148.08 million. The company has a 50-day moving average price of $9.05 and a 200 day moving average price of $8.15.
Proteon Therapeutics (NASDAQ:PRTO) last posted its quarterly earnings data on Monday, August 8th. The biopharmaceutical company reported ($0.48) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.43) by $0.05. Equities analysts forecast that Proteon Therapeutics will post ($1.85) EPS for the current fiscal year.
Several large investors have recently modified their holdings of the company. Geode Capital Management LLC increased its position 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 valued at $351,000 after buying an additional 2,685 shares during the last quarter. State Street Corp increased its position in Proteon Therapeutics by 58.8% in the first quarter. State Street Corp now owns 94,432 shares of the biopharmaceutical company’s stock valued at $729,000 after buying an additional 34,952 shares during the last quarter. Paloma Partners Management Co purchased a new position in Proteon Therapeutics during the second quarter valued at approximately $234,000. Deerfield Management Co. increased its position 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 valued at $12,463,000 after buying an additional 286,688 shares during the last quarter. Finally, Bridgeway Capital Management Inc. increased its position 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 valued at $296,000 after buying an additional 25,000 shares during the last quarter. 51.54% of the stock is owned by hedge funds and other institutional investors.
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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