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

Zacks Investment Research lowered shares of Proteon Therapeutics (NASDAQ:PRTO) from a buy rating to a hold rating in a research note issued to investors on Wednesday, 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. “

Several other research analysts have also weighed in on PRTO. Robert W. Baird upped their target price on shares of Total System Services from $98.00 to $110.00 and gave the stock an outperform rating in a research report on Friday, March 29th. HC Wainwright reiterated a buy rating on shares of Zynerba Pharmaceuticals in a research report on Monday, March 18th. Cowen reiterated a buy rating and issued a $149.00 price target on shares of Intercept Pharmaceuticals in a research report on Wednesday, May 8th. JMP Securities lowered shares of Proteon Therapeutics to a market perform rating in a research report on Thursday, March 28th. Finally, Maxim Group set a $9.00 price target on shares of Brainstorm Cell Therapeutics and gave the company a buy rating in a research report on Thursday, March 28th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus price target of $2.63.

Shares of PRTO opened at $0.45 on Wednesday. The business’s 50-day moving average is $0.42. Proteon Therapeutics has a twelve month low of $0.35 and a twelve month high of $3.94.

Proteon Therapeutics (NASDAQ:PRTO) last issued its earnings results on Wednesday, May 8th. The biopharmaceutical company reported ($0.34) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.11). Equities analysts anticipate that Proteon Therapeutics will post -0.59 EPS for the current fiscal year.

A hedge fund recently bought a new stake in Proteon Therapeutics stock. Wedbush Securities Inc. acquired a new stake in shares of Proteon Therapeutics Inc (NASDAQ:PRTO) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 59,000 shares of the biopharmaceutical company’s stock, valued at approximately $30,000. Wedbush Securities Inc. owned about 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.

Proteon Therapeutics Company Profile

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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