Zacks Investment Research upgraded shares of Proteon Therapeutics Inc. (NASDAQ:PRTO) from a sell rating to a hold rating in a research note released 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 initiated coverage on Proteon Therapeutics in a report on Thursday, September 22nd. They issued a buy rating and a $18.00 price objective on the stock. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. The company currently has a consensus rating of Buy and an average price target of $20.80.
Shares of Proteon Therapeutics (NASDAQ:PRTO) opened at 8.99 on Wednesday. The company’s 50-day moving average price is $9.03 and its 200 day moving average price is $8.16. The stock’s market cap is $149.07 million. Proteon Therapeutics has a 12-month low of $4.90 and a 12-month high of $17.76.
Proteon Therapeutics (NASDAQ:PRTO) last announced its quarterly earnings results on Monday, August 8th. The biopharmaceutical company reported ($0.48) earnings per share for the quarter, missing the consensus estimate of ($0.43) by $0.05. On average, equities analysts predict that Proteon Therapeutics will post ($1.85) earnings per share for the current year.
A number of hedge funds have recently modified their holdings of the stock. TFS Capital LLC acquired a new stake in shares of Proteon Therapeutics during the second quarter valued at approximately $206,000. Paloma Partners Management Co acquired a new stake in shares of Proteon Therapeutics during the second quarter valued at approximately $234,000. Bridgeway Capital Management Inc. raised its stake in shares of 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. Geode Capital Management LLC raised its stake in shares of 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. Finally, State Street Corp raised 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 valued at $729,000 after buying an additional 34,952 shares during the last quarter. 51.54% of the stock is currently owned by institutional investors.
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.