Zacks Investment Research upgraded shares of Proteon Therapeutics (NASDAQ:PRTO) from a strong sell rating to a hold rating in a research note published on Thursday, January 4th.
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. “
PRTO has been the topic of a number of other research reports. Robert W. Baird reiterated a hold rating and issued a $2.00 price objective on shares of Proteon Therapeutics in a research report on Friday, November 10th. HC Wainwright reiterated a hold rating and issued a $2.30 price objective on shares of Proteon Therapeutics in a research report on Wednesday, November 8th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. The company has a consensus rating of Hold and a consensus target price of $3.20.
Shares of Proteon Therapeutics (NASDAQ PRTO) opened at $2.50 on Thursday. Proteon Therapeutics has a 12-month low of $1.10 and a 12-month high of $2.75.
In other news, Director James E. Flynn purchased 110,557 shares of the stock in a transaction on Thursday, November 30th. The shares were acquired at an average price of $1.75 per share, for a total transaction of $193,474.75. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have acquired 122,852 shares of company stock worth $216,533 in the last 90 days. Company insiders own 36.30% of the company’s stock.
A hedge fund recently raised its stake in Proteon Therapeutics stock. Pharmstandard International S.A. raised its position in shares of Proteon Therapeutics Inc (NASDAQ:PRTO) by 43.1% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,667,907 shares of the biopharmaceutical company’s stock after purchasing an additional 502,563 shares during the period. Proteon Therapeutics makes up approximately 9.7% of Pharmstandard International S.A.’s holdings, making the stock its 3rd largest holding. Pharmstandard International S.A. owned approximately 9,465,987.51% of Proteon Therapeutics worth $3,336,000 at the end of the most recent reporting period. 50.05% of the stock is owned by hedge funds and other institutional investors.
About Proteon Therapeutics
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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