Shares of Promis Neurosciences (NASDAQ:PMN – Get Free Report) have been given an average rating of “Moderate Buy” by the eight analysts that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating, four have assigned a buy rating and two have issued a strong buy rating on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $31.50.
A number of equities analysts recently issued reports on PMN shares. HC Wainwright reaffirmed a “buy” rating on shares of Promis Neurosciences in a research report on Wednesday, July 15th. Roth Capital began coverage on shares of Promis Neurosciences in a report on Tuesday, July 7th. They set a “buy” rating and a $19.00 target price for the company. Cantor Fitzgerald initiated coverage on shares of Promis Neurosciences in a research report on Tuesday, June 30th. They set an “overweight” rating on the stock. Zacks Research upgraded Promis Neurosciences to a “hold” rating in a report on Tuesday, June 9th. Finally, Wall Street Zen raised Promis Neurosciences from a “strong sell” rating to a “sell” rating in a research report on Saturday, July 18th.
View Our Latest Stock Analysis on Promis Neurosciences
Promis Neurosciences Price Performance
Promis Neurosciences (NASDAQ:PMN – Get Free Report) last announced its quarterly earnings results on Tuesday, May 12th. The company reported ($1.26) EPS for the quarter, missing the consensus estimate of ($1.06) by ($0.20). On average, research analysts anticipate that Promis Neurosciences will post -5.08 EPS for the current year.
Institutional Trading of Promis Neurosciences
Several hedge funds have recently made changes to their positions in the company. Janus Henderson Group PLC bought a new stake in Promis Neurosciences in the 1st quarter valued at about $16,418,000. Armistice Capital LLC boosted its position in Promis Neurosciences by 39.1% during the third quarter. Armistice Capital LLC now owns 2,974,518 shares of the company’s stock worth $1,264,000 after purchasing an additional 836,622 shares during the period. Yu Fan purchased a new position in shares of Promis Neurosciences in the first quarter worth about $4,188,000. Ally Bridge Group NY LLC increased its stake in shares of Promis Neurosciences by 66.1% in the first quarter. Ally Bridge Group NY LLC now owns 414,219 shares of the company’s stock worth $5,261,000 after purchasing an additional 164,880 shares in the last quarter. Finally, Citadel Advisors LLC raised its position in shares of Promis Neurosciences by 168.1% in the third quarter. Citadel Advisors LLC now owns 170,079 shares of the company’s stock valued at $72,000 after purchasing an additional 106,650 shares during the period. 50.13% of the stock is currently owned by institutional investors.
About Promis Neurosciences
Promis Neurosciences, Inc is a clinical‐stage biopharmaceutical company focused on the discovery and development of novel therapeutics for central nervous system disorders. The company’s research programs target cognitive impairment and other neurological symptoms associated with diseases such as Alzheimer’s disease and multiple sclerosis.
Leveraging a proprietary small‐molecule discovery platform, Promis Neurosciences advances both preclinical and early clinical candidates designed to modulate neural pathways involved in memory, learning and neuroinflammation.
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