Proteon Therapeutics (PRTO) Upgraded to “Hold” by Zacks Investment Research

Zacks Investment Research upgraded shares of Proteon Therapeutics (NASDAQ:PRTO) from a strong sell rating to a hold rating in a research report sent to investors on Thursday.

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. Robert W. Baird reaffirmed a hold rating and issued a $2.00 target price on shares of Proteon Therapeutics in a research report on Friday, November 10th. HC Wainwright reaffirmed a hold rating and issued a $2.30 target price on shares of Proteon Therapeutics in a research report on Wednesday, November 8th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus target price of $3.20.

Proteon Therapeutics (NASDAQ PRTO) remained flat at $$1.85 during trading on Thursday. 24,000 shares of the company traded hands, compared to its average volume of 20,667. Proteon Therapeutics has a 52-week low of $1.10 and a 52-week high of $2.75. The company has a market cap of $32.68, a price-to-earnings ratio of -0.83 and a beta of 1.62.

In related news, Director James E. Flynn purchased 110,557 shares of Proteon Therapeutics stock in a transaction that occurred on Thursday, November 30th. The shares were acquired at an average price of $1.75 per share, with a total value of $193,474.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders have purchased 122,852 shares of company stock worth $216,533 in the last three months. 36.30% of the stock is currently owned by company insiders.

A hedge fund recently bought a new stake in Proteon Therapeutics stock. RA Capital Management LLC purchased a new position in shares of Proteon Therapeutics Inc (NASDAQ:PRTO) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,337,462 shares of the biopharmaceutical company’s stock, valued at approximately $2,040,000. Proteon Therapeutics makes up 0.2% of RA Capital Management LLC’s holdings, making the stock its 22nd biggest holding. RA Capital Management LLC owned about 7.59% of Proteon Therapeutics at the end of the most recent reporting period. 50.05% of the stock is currently owned by hedge funds and other institutional investors.

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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.

Analyst Recommendations for Proteon Therapeutics (NASDAQ:PRTO)

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