Brokerages Set Promis Neurosciences (NASDAQ:PMN) Price Target at $4.33

Promis Neurosciences (NASDAQ:PMN) has received a consensus recommendation of “Moderate Buy” from the four brokerages that are covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating and three have given a buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $4.3333.

Several equities research analysts recently weighed in on PMN shares. HC Wainwright started coverage on shares of Promis Neurosciences in a report on Monday, July 14th. They issued a “buy” rating and a $4.00 price objective for the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Promis Neurosciences in a report on Wednesday, October 8th. Leede Financial raised shares of Promis Neurosciences to a “moderate buy” rating in a report on Monday, July 21st. Finally, Wall Street Zen downgraded shares of Promis Neurosciences to a “strong sell” rating in a report on Saturday, October 11th.

Promis Neurosciences Stock Performance

Shares of PMN opened at $0.44 on Friday. Promis Neurosciences has a 1 year low of $0.38 and a 1 year high of $1.59. The company has a market cap of $23.55 million, a price-to-earnings ratio of -2.08 and a beta of -0.17. The firm has a fifty day moving average of $0.50 and a 200-day moving average of $0.54.

Promis Neurosciences (NASDAQ:PMN) last announced its quarterly earnings results on Wednesday, August 13th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.07). Analysts predict that Promis Neurosciences will post -0.24 EPS for the current year.

Institutional Investors Weigh In On Promis Neurosciences

An institutional investor recently raised its position in Promis Neurosciences stock. Allostery Investments LP boosted its holdings in Promis Neurosciences (NASDAQ:PMN) by 19.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 233,703 shares of the company’s stock after acquiring an additional 38,592 shares during the quarter. Allostery Investments LP owned about 0.71% of Promis Neurosciences worth $165,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 50.13% of the company’s stock.

Promis Neurosciences Company Profile

ProMIS Neurosciences, Inc discovers and develops antibody therapies and therapeutic vaccines neurodegenerative diseases and other misfolded protein diseases in Canada. The company’s proprietary discovery platform comprises ProMIS and Collective Coordinates algorithms to predict novel targets known as disease specific epitopes on the molecular surface of misfolded proteins.