Proteon Therapeutics (NASDAQ:PRTO) Lowered to Hold at Zacks Investment Research

Zacks Investment Research downgraded shares of Proteon Therapeutics (NASDAQ:PRTO) from a buy rating to a hold rating in a research report sent to investors on Wednesday morning, Zacks.com reports.

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. “

PRTO has been the topic of a number of other research reports. HC Wainwright reiterated a buy rating on shares of Zynerba Pharmaceuticals in a research note on Monday, March 18th. JMP Securities lowered Proteon Therapeutics to a market perform rating in a research note on Thursday, March 28th. Cowen reiterated a buy rating and issued a $149.00 target price on shares of Intercept Pharmaceuticals in a research note on Wednesday, May 8th. Robert W. Baird increased their target price on Total System Services from $98.00 to $110.00 and gave the stock an outperform rating in a research note on Friday, March 29th. Finally, Maxim Group set a $9.00 target price on Brainstorm Cell Therapeutics and gave the stock a buy rating in a research note on Thursday, March 28th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Proteon Therapeutics has an average rating of Hold and an average price target of $2.63.

PRTO stock traded up $0.03 during midday trading on Wednesday, reaching $0.46. The company’s stock had a trading volume of 1,545,100 shares, compared to its average volume of 1,032,199. The company’s fifty day moving average price is $0.42. Proteon Therapeutics has a 1 year low of $0.35 and a 1 year high of $3.94. The stock has a market cap of $8.29 million, a price-to-earnings ratio of -0.40 and a beta of 0.43.

Proteon Therapeutics (NASDAQ:PRTO) last released its earnings results on Wednesday, May 8th. The biopharmaceutical company reported ($0.34) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.11). As a group, sell-side analysts expect that Proteon Therapeutics will post -0.59 EPS for the current year.

A hedge fund recently bought a new stake in Proteon Therapeutics stock. Wedbush Securities Inc. purchased a new stake in shares of Proteon Therapeutics Inc (NASDAQ:PRTO) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 59,000 shares of the biopharmaceutical company’s stock, valued at approximately $30,000. Wedbush Securities Inc. owned 0.30% of Proteon Therapeutics at the end of the most recent quarter. Hedge funds and other institutional investors own 22.86% of the company’s stock.

About Proteon Therapeutics

Proteon Therapeutics, Inc, a late-stage biopharmaceutical company, focuses on the development of pharmaceuticals to address the needs of patients with renal and vascular disease. Its lead product candidate is vonapanitase, an investigational drug intended to enhance hemodialysis vascular access outcomes.

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