HC Wainwright Reiterates Buy Rating on PMN
HC Wainwright maintains a buy rating on PMN with an $18 price target, a 75.78% upside from the current price.
Key Points
- HC Wainwright reiterated its buy rating on PMN with a target price of $18 on June 24, 2026.
- HC Wainwright's $18 price target implies 75.78% upside from ProMIS Neurosciences, Inc.'s ($PMN) current $10.24 share price.
- Shares of PMN traded at $10.69 on Wednesday, reflecting investor interest.
- Insiders, including the CEO, purchased shares in May, indicating confidence in PMN's prospects.
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HC Wainwright & Co. reiterated its buy rating on PMN, setting a target price of $18 on June 24, 2026. The firm's analyst, Raghuram Selvaraju, continues to express confidence in PMN's potential growth. Shares of PMN traded at $10.69 on Wednesday, suggesting a positive outlook among investors.
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Other Institutional Activity in PMN
Several institutional investors have shown interest in PMN. Janus Henderson Group PLC opened a new position with 1,292,757 shares valued at about $16.42 million. Deep Track Capital, LP also initiated a stake, acquiring 835,655 shares worth approximately $10.61 million. Wellington Management Group LLP entered with 696,378 shares, valued at around $8.84 million. Additionally, Trails Edge Capital Partners, LP began a position with 557,103 shares, totaling about $7.08 million. Ally Bridge Group (NY) LLC increased its holdings by 164,880 shares, ending with 414,219 shares valued at $5.26 million, a 66.1% increase.
Insider Buying and Selling at ProMIS Neurosciences, Inc.
On May 20, 2026, several insiders at PMN purchased shares. CEO Neil Warma acquired 160,000 shares, while Chief Scientific Officer Neil Cashman bought 50,000 shares. Other insiders, including Eugene Williams, Josh Mandel-Brehm, William Wyman, and Chief Development Officer Johanne Kaplan, each acquired shares, further demonstrating internal confidence in the company's future.
Analysts Set New Price Targets
On June 24, 2026, HC Wainwright & Co. reiterated its buy rating on PMN with a price target of $18. This follows several similar actions from the firm, including a reiteration on June 8, 2026. Guggenheim also maintained a buy rating earlier this year with a higher target of $35.
Bottom Line
HC Wainwright's reiterated buy rating and $18 target suggest optimism for PMN's future performance. The stock's trading price of $10.69 indicates ongoing investor interest. Institutional and insider activity further supports the potential for growth, with several new positions opened and insider purchases made in recent months.
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