Zacks Investment Research Lowers Proteon Therapeutics, Inc. (PRTO) to Strong Sell

Zacks Investment Research downgraded shares of Proteon Therapeutics, Inc. (NASDAQ:PRTO) from a hold rating to a strong sell rating in a report issued on Saturday.

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 equities analysts also recently commented on PRTO. Cowen and Company reiterated a hold rating on shares of Proteon Therapeutics in a report on Tuesday, August 8th. HC Wainwright set a $2.00 price target on shares of Proteon Therapeutics and gave the company a hold rating in a report on Wednesday, August 9th. Finally, Oppenheimer Holdings, Inc. reiterated a market perform rating on shares of Proteon Therapeutics in a report on Wednesday, August 16th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company’s stock. The company presently has an average rating of Hold and an average price target of $6.13.

Proteon Therapeutics (NASDAQ PRTO) opened at $1.85 on Friday. Proteon Therapeutics has a fifty-two week low of $1.10 and a fifty-two week high of $11.45.

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An institutional investor recently raised its position in Proteon Therapeutics stock. Pharmstandard International S.A. lifted its holdings in Proteon Therapeutics, Inc. (NASDAQ:PRTO) by 43.1% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 1,667,907 shares of the biopharmaceutical company’s stock after purchasing an additional 502,563 shares during the period. Proteon Therapeutics comprises 9.7% of Pharmstandard International S.A.’s holdings, making the stock its 3rd biggest position. Pharmstandard International S.A. owned 9,465,987.51% of Proteon Therapeutics worth $3,336,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 49.93% of the company’s stock.

Proteon Therapeutics Company Profile

Proteon Therapeutics, Inc is a late-stage biopharmaceutical company, which focuses on the development of pharmaceuticals to address the needs of patients with renal and vascular disease. The Company is involved in research and development activities. The Company’s product candidate, product candidate, vonapanitase, formerly PRT-201, is a recombinant human elastase that it is developing to manage vascular access failure in patients with chronic kidney disease undergoing or planning for hemodialysis, a lifesaving treatment that cannot be conducted without a functioning vascular access.

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