Promis Neurosciences (NASDAQ:PMN) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Promis Neurosciences (NASDAQ:PMNGet Free Report) have been assigned an average rating of “Moderate Buy” from the eight brokerages that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating, four have given a buy rating and two have issued a strong buy rating on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $34.00.

PMN has been the topic of several recent research reports. Wall Street Zen raised shares of Promis Neurosciences from a “strong sell” rating to a “sell” rating in a report on Saturday, July 18th. Roth Capital set a $29.00 price objective on Promis Neurosciences in a report on Friday, August 21st. Weiss Ratings downgraded Promis Neurosciences from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, June 11th. Cantor Fitzgerald initiated coverage on Promis Neurosciences in a report on Tuesday, June 30th. They set an “overweight” rating on the stock. Finally, Brookline Capital Markets upgraded Promis Neurosciences to a “strong-buy” rating in a research report on Wednesday, May 20th.

View Our Latest Stock Analysis on Promis Neurosciences

Hedge Funds Weigh In On Promis Neurosciences

Several institutional investors and hedge funds have recently modified their holdings of the business. Seven Fleet Capital Management LP purchased a new position in Promis Neurosciences during the first quarter worth approximately $135,000. ADAR1 Capital Management LLC acquired a new stake in Promis Neurosciences in the first quarter valued at approximately $1,211,000. Citadel Advisors LLC increased 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 buying an additional 106,650 shares in the last quarter. Ally Bridge Group NY LLC raised its stake in shares of Promis Neurosciences by 66.1% during the 1st quarter. Ally Bridge Group NY LLC now owns 414,219 shares of the company’s stock worth $5,261,000 after buying an additional 164,880 shares during the period. Finally, Yu Fan acquired a new position in shares of Promis Neurosciences during the 1st quarter worth approximately $4,188,000. Hedge funds and other institutional investors own 50.13% of the company’s stock.

Promis Neurosciences Stock Down 2.3%

Promis Neurosciences stock opened at $12.60 on Tuesday. Promis Neurosciences has a 52 week low of $6.27 and a 52 week high of $27.40. The company has a market capitalization of $113.02 million, a price-to-earnings ratio of -1.48 and a beta of -0.24. The stock has a 50-day moving average price of $13.90 and a 200 day moving average price of $13.68.

Promis Neurosciences (NASDAQ:PMNGet Free Report) last issued its quarterly earnings results on Thursday, August 13th. The company reported ($1.28) earnings per share for the quarter, topping the consensus estimate of ($1.38) by $0.10. Research analysts anticipate that Promis Neurosciences will post -5.14 EPS for the current fiscal year.

About Promis Neurosciences

(Get Free Report)

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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Analyst Recommendations for Promis Neurosciences (NASDAQ:PMN)

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