Baird Initiates Coverage on Proteon Therapeutics Inc to Outperform

Baird Initiates Coverage on Proteon Therapeutics Inc(NASDAQ:PRTO). The shares have been rated Outperform. The rating by Baird was issued on Apr 14, 2016.

In a different note, On Mar 9, 2016, JMP Securities said it Maintains its rating on Proteon Therapeutics Inc. In the research note, the firm Raises the price-target to $22.00 per share. The shares have been rated ‘Market Outperform’ by the firm.

Proteon Therapeutics Inc (PRTO) made into the market gainers list on Mondays trading session with the shares advancing 4.27% or 0.38 points. Due to strong positive momentum, the stock ended at $9.28, which is also near the day’s high of $9.61. The stock began the session at $9.3 and the volume stood at 34,778 shares. The 52-week high of the shares is $20 and the 52 week low is $5.105. The company has a current market capitalization of $153 M and it has 1,65,07,894 shares in outstanding.

Several Insider Transactions has been reported to the SEC. On Jan 5, 2016, Timothy P Noyes (President and CEO) sold 5,000 shares at $13.88 per share price.Also, On Jul 8, 2015, Daniel Philip Gottlieb (VP Marketing & Bus Development) sold 1,965 shares at $16.86 per share price.

Proteon Therapeutics Inc. is a late-stage biopharmaceutical company focused on the development of pharmaceuticals to address the needs of patients with renal and vascular disease. The Company is primarily involved in research and development activities. The Company’s product candidate PRT-201 is a recombinant human elastase that it is developing to reduce 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. The Company has completed Phase II trial of PRT-201 in patients undergoing creation of an arteriovenous fistula (AVF). It initiated the first of two Phase III trials for PRT-201 in radiocephalic AVFs.

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