Guggenheim Reiterates Buy Rating for ProMIS Neurosciences (NASDAQ:PMN)

ProMIS Neurosciences (NASDAQ:PMN)‘s stock had its “buy” rating restated by analysts at Guggenheim in a report issued on Tuesday,Benzinga reports. They presently have a $6.00 price objective on the stock.

ProMIS Neurosciences Trading Down 5.8 %

Shares of NASDAQ PMN opened at $0.71 on Tuesday. The stock’s 50-day moving average is $0.81 and its 200 day moving average is $0.95. The stock has a market cap of $23.24 million, a price-to-earnings ratio of -7.11 and a beta of 0.58. ProMIS Neurosciences has a 1-year low of $0.62 and a 1-year high of $2.61.

ProMIS Neurosciences (NASDAQ:PMN) last posted its quarterly earnings results on Monday, March 31st. The company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.14) by $0.12. On average, analysts forecast that ProMIS Neurosciences will post -0.24 EPS for the current fiscal year.

Institutional Investors Weigh In On ProMIS Neurosciences

A hedge fund recently bought a new stake in ProMIS Neurosciences stock. Allostery Investments LP purchased a new position in ProMIS Neurosciences, Inc. (NASDAQ:PMN) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 195,111 shares of the company’s stock, valued at approximately $185,000. Allostery Investments LP owned 0.60% of ProMIS Neurosciences at the end of the most recent reporting period. 50.13% of the stock is currently owned by institutional investors.

About ProMIS Neurosciences

ProMIS Neurosciences, Inc discovers and develops antibody therapies and therapeutic vaccines neurodegenerative diseases and other misfolded protein diseases in Canada. The company’s proprietary discovery platform comprises ProMIS and Collective Coordinates algorithms to predict novel targets known as disease specific epitopes on the molecular surface of misfolded proteins.