ProQR (PRQR) AI Stock Analysis

• Market Cap: $162.26M
• Dividend Yield: N/A
• Average Volume (3M): 534.76K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.86
• Revenue Growth: -11.99%
• EPS Growth: -42.04%
• Country: US
• Employees: 166
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): -0.09
• Shares Outstanding: 105,361,060
• 10 Day Avg. Volume: 796,312
• 30 Day Avg. Volume: 534,757
• PEG Ratio: -0.38
• Price to Book (P/B): 3.67
• Price to Sales (P/S): 11.85
• P/FCF Ratio: -3.50
• Enterprise Value/Market Cap: 0.38
• Enterprise Value/Revenue: 3.87
• Enterprise Value/Gross Profit: 4.04
• Enterprise Value/Ebitda: -1.52
• 1Y Price Target: $8.25
• Price Target Upside: 435.71% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 4
• EPS Forecast (FY): -0.51
• Revenue Forecast (FY): $22.76M

• Rating: 46 Neutral
• Price Target: $1.50 ▼(-2.60% Downside)
• Action: Reiterated Date: 03/14/26
• Date: Action: Reiterated 03/14/26

The score is primarily constrained by weak financial performance—ongoing losses, a return to heavier cash burn, and a declining equity base that increases funding risk. Technicals are moderately supportive in the near term (above short-term moving averages with neutral momentum) but remain challenged longer term (below 100/200-day averages). Valuation is also pressured due to negative earnings and no indicated dividend yield.

Positive Factors

Clinical Progress - AX-0810

Encouraging Phase 1 safety and PK for AX-0810 and imminent target engagement readouts represent a durable clinical de-risking step. Successful translation to patient cohorts could validate the Axiomer editing approach and materially de-risk program advancement and partnering potential over the next 2–6 months.

Extended Cash Runway via Collaboration Milestones

A cash balance north of €90M plus realized collaboration milestones provides a clear funding runway into mid-2027, reducing near-term dilution risk. This funding buffer supports continued R&D investment across multiple Axiomer candidates while management seeks partnerships or further financing.

Governance and Board Succession

Proactive board refresh and use of an executive search firm signal intentional governance strengthening and succession planning. Aligning board skillsets to clinical-stage execution improves oversight for partnering, regulatory strategy and capital allocation over the medium term.

Negative Factors

Persistent Cash Burn

Recurrent deeply negative operating and free cash flow reflects structural funding dependency common in biotech but raises ongoing dilution or financing risk. If R&D spend remains elevated without near-term revenue or substantial new milestones, balance sheet pressure could force strategic trade-offs.

Eroding Equity Cushion

A material decline in equity diminishes the company’s financial buffer against adverse outcomes and limits borrowing flexibility. Reduced equity heightens sensitivity to additional losses or lower-than-expected program results, increasing the probability that external capital will be required within the next 2–6 months.

Near-term Revenue Weakness

A year-over-year revenue decline interrupts commercialization momentum and highlights limited near-term revenue diversification. For a clinical-stage biotech, falling revenue increases reliance on milestone or financing inflows and amplifies execution risk if clinical readouts or partner payments underperform expectations.

ProQR Business Overview & Revenue Model

Company Description

ProQR Therapeutics N.V., a biopharmaceutical company, engages in the discovery and development of RNA-based therapeutics for the treatment of genetic disorders. It primarily develops sepofarsen that is in phase II/III clinical trial illuminate trial for treating leber congenital amaurosis 10 disease; and ultevursen, which is in phase II/III clinical trial to treat USH2A-mediated retinitis pigmentosa and usher syndrome. The company also engages in the developing of Axiomer RNA base-editing platform technology. It has a license agreement with Radboud University Medical Center, Inserm Transfert SA, Ionis Pharmaceuticals, Inc., and Leiden University Medical Center, as well as license and research collaboration with Eli Lilly and Company for the discovery, development, and commercialization of potential new medicines for genetic disorders in the liver and nervous system. ProQR Therapeutics N.V. was incorporated in 2012 and is headquartered in Leiden, the Netherlands.

How the Company Makes Money

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ProQR Financial Statement Overview

Summary

Despite multi-year revenue scale-up, PRQR remains unprofitable with persistent operating and net losses. Cash flow is the key drag, with deeply negative operating and free cash flow in 2025 and recurring burn in prior years, raising funding risk. The balance sheet is not heavily levered, but equity declined materially in 2025, reducing cushion.

Income Statement

Revenue has scaled up materially over the last several years (despite a sharp decline in 2025 vs. 2024), but profitability remains the core issue. Gross profit stays strong relative to revenue, yet operating losses and net losses are persistent and sizable, indicating the business is still heavily in investment/burn mode with limited operating leverage showing through.

Balance Sheet

Leverage looks manageable for the sector, with debt lower than equity in recent years and improving versus earlier periods. The main weakness is the trajectory of the equity base—stockholders’ equity fell materially in 2025—reflecting ongoing losses and raising the importance of future funding and cost discipline even with a still-positive equity cushion.

Cash Flow

Cash generation is volatile and currently pressured: operating cash flow and free cash flow were deeply negative in 2025 and also negative in multiple prior years, consistent with a cash-burning biotech profile. While there was a year (2023) of positive operating and free cash flow, the reversion to heavier outflows in 2024–2025 suggests funding risk remains if cash burn does not moderate.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	15.28M	18.91M	6.51M	3.59M	1.33M
Gross Profit	12.68M	18.91M	6.51M	3.59M	1.33M
EBITDA	-39.56M	-24.12M	-24.10M	-56.46M	-54.95M
Net Income	-40.52M	-27.76M	-28.12M	-64.42M	-60.74M
Balance Sheet
Total Assets	112.71M	167.96M	152.31M	171.32M	209.58M
Cash, Cash Equivalents and Short-Term Investments	92.37M	149.41M	131.37M	94.78M	187.52M
Total Debt	13.99M	17.22M	21.80M	21.97M	60.37M
Total Liabilities	63.36M	79.40M	106.59M	104.64M	96.35M
Stockholders Equity	49.35M	88.56M	45.72M	67.06M	113.83M
Cash Flow
Free Cash Flow	-51.69M	-37.81M	20.18M	-69.22M	-26.50M
Operating Cash Flow	-50.71M	-36.39M	21.55M	-68.51M	-26.01M
Investing Cash Flow	-979.74K	-4.07M	4.28M	-702.00K	-425.00K
Financing Cash Flow	-1.76M	70.28M	-2.27M	-30.89M	136.83M

ProQR Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 1.54
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For PRQR, the sentiment is Negative. The current price of 1.54 is below the 20-day moving average (MA) of 1.67, below the 50-day MA of 1.62, and below the 200-day MA of 2.07, indicating a bearish trend. The MACD of 0.02 indicates Positive momentum. The RSI at 42.09 is Neutral, neither overbought nor oversold. The STOCH value of 9.58 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for PRQR.

ProQR Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
AVIR	57 Neutral	$450.94M	-1.84	-46.34%	―	―	14.33%
OABI	55 Neutral	$253.37M	-4.17	-22.37%	―	3.36%	5.15%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
CDXS	50 Neutral	$145.39M	-3.23	-90.51%	―	-17.87%	14.42%
PRQR	46 Neutral	$162.26M	-5.01	-99.45%	―	-11.99%	-42.04%
HRTX	45 Neutral	$146.80M	-10.73	304.91%	―	12.60%	58.23%

ProQR Corporate Events

ProQR Posts 2025 Results as Axiomer RNA Editing Pipeline Advances and Cash Runway Extends to Mid-2027

On March 12, 2026, ProQR reported its operating and financial results for the year ended Dec. 31, 2025, highlighting progress on lead candidate AX-0810 for cholestatic diseases, which is in an ongoing Phase 1 multiple-dose study in healthy volunteers with encouraging initial safety and pharmacokinetics. The company expects target engagement data in the first half of 2026 and is preparing to add a primary sclerosing cholangitis patient cohort, underscoring a push to translate its RNA editing technology into clinical proof of concept.

ProQR also strengthened its Axiomer pipeline by selecting development candidates AX-2402 for Rett syndrome and AX-2911 for genetically defined MASH, backed by robust preclinical data and external funding for the Rett program, while continuing to generate collaboration milestones from Eli Lilly. The company ended 2025 with €92.4 million in cash and cash equivalents, a higher net loss driven by increased R&D investment, and projected a cash runway into mid-2027 alongside planned board changes aimed at supporting its evolution as a clinical-stage RNA editing player.

The most recent analyst rating on (PRQR) stock is a Buy with a $9.00 price target. To see the full list of analyst forecasts on ProQR stock, see the PRQR Stock Forecast page.

ProQR Therapeutics Plans Board Changes as Co-Founder and Director Exit at 2026 AGM

On February 9, 2026, ProQR Therapeutics announced planned changes to its board of directors, with co-founder Dinko Valerio and director Alison Lawton set to rotate off the board at the company’s 2026 Annual General Meeting as their terms conclude. The company has hired an executive search firm to identify new board candidates, positioning its governance structure to better support the progression of its clinical programs and long-term value creation.

The move reflects ProQR’s ongoing succession planning efforts and its focus on maintaining a board with the right mix of skills and experience as it advances its Axiomer-based RNA editing pipeline. These changes, following the appointment of two new board members in the last three years, underscore the firm’s emphasis on corporate governance as it seeks to strengthen its strategic execution and stakeholder alignment.

The most recent analyst rating on (PRQR) stock is a Hold with a $1.50 price target. To see the full list of analyst forecasts on ProQR stock, see the PRQR Stock Forecast page.

ProQR Reports Positive AX-0810 Phase 1 Data, Advances Rett and MASH Candidates, and Outlines 2026 Pipeline Plans

On January 8, 2026, ProQR reported encouraging initial Phase 1 data for its lead candidate AX-0810, showing no serious safety issues and pharmacokinetics in line with preclinical findings after four weeks of dosing in the first cohort of healthy volunteers, with target engagement data expected in the first half of 2026 and plans to add a patient cohort thereafter. The company also selected development candidates AX-2402 for Rett syndrome and AX-2911 for MASH based on robust preclinical proof-of-concept data, highlighted non-clinical results suggesting disease-modifying potential versus existing approaches, and noted that milestone payments from its collaboration with Eli Lilly in 2025 support a cash runway into mid-2027 as it advances its Axiomer platform and executes its 2026 development and partnering agenda.

The most recent analyst rating on (PRQR) stock is a Buy with a $5.00 price target. To see the full list of analyst forecasts on ProQR stock, see the PRQR Stock Forecast page.