Oppenheimer Reiterates a Buy Rating on ProteonBy Austin Angelo
“We met with PRTO CFO George Eldridge to discuss the development of vonapanitase. Ph3 PATENCY-1 data is still expected in Dec., and we remain positive on the risk/reward profile of this study, given its powering and the efficacy of vonapanitase observed in Ph2. If PATENCY-1 data are strong enough, management has mentioned the possibility of filing an NDA before PATENCY-2 reads out. Meanwhile, enrollment of PATENCY-2 is proceeding according to schedule with complete enrollment expected in 1Q17. Also, PRTO has initiated 2 Ph1 trials of vonapanitase in PAD.”
According to TipRanks.com, Olson is a 3-star analyst with an average return of 10.2% and a 46.2% success rate. Olson covers the Healthcare sector, focusing on stocks such as Eiger Biopharmaceuticals, Intercept Pharma, and Portola Pharma.
Currently, the analyst consensus on Proteon is Strong Buy and the average price target is $20, representing a 96.1% upside.
In a report released yesterday, Cowen & Co. also reiterated a Buy rating on the stock.
The company has a one year high of $16.48 and a one year low of $4.90. Currently, Proteon has an average volume of 33.47K.
Based on the recent corporate insider activity of 8 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of PRTO in relation to earlier this year. Most recently, in June 2016, George Arthur Eldridge, the Sr VP, CFO, Treasurer, Sec. of PRTO bought 4,000 shares for a total of $23,107.
Proteon Therapeutics, Inc. is a biopharmaceutical company, which focuses on development of pharmaceuticals to address the needs of patients with kidney and vascular disease. It offers PRT-201, a recombinant human elastase that fragments elastin fibers in blood vessel walls. The company was founded by F. Nicholas Franano and William P. Whitaker in 2001 and is headquartered in Waltham, MA.