HC Wainwright Reiterates Buy Rating for ProMIS Neurosciences
On June 24, 2026, HC Wainwright reaffirmed its buy rating on ProMIS Neurosciences, setting an $18 price target, a 75.61% upside from the current price.
Key Points
- HC Wainwright reiterated its buy rating for ProMIS Neurosciences, PMN, setting a target price of $18 on June 24, 2026.
- HC Wainwright's $18 price target implies 75.61% upside from ProMIS Neurosciences, Inc.'s ($PMN) current $10.25 share price.
- ProMIS Neurosciences, trading at $10.24 on NasdaqCM, has a market cap of $91.9 million and no meaningful P/E ratio due to its unprofitability.
- Several institutional investors, including Janus Henderson and Deep Track Capital, recently opened new positions in ProMIS Neurosciences.
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HC Wainwright & Co. reiterated its buy rating on ProMIS Neurosciences, Inc. (NasdaqCM: PMN) on June 24, 2026. The firm set a price target of $18, indicating confidence in the biotech company's future prospects.
HC Wainwright & Co. vs. the S&P 500
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ProMIS Neurosciences, Inc. Stock Down 23.9%
Shares of NasdaqCM:PMN were trading around $10.24 on Friday. ProMIS Neurosciences, with a market cap of approximately $91.9 million, focuses on developing therapies for neurodegenerative diseases. The company isn't profitable, so it doesn't have a meaningful P/E ratio. Its beta is -0.171, suggesting it moves inversely to the market. The stock has seen a 52-week range between $6.27 and $39.75, with a 50-day moving average of $10.61 and a 200-day moving average of $11.72.
$PMN price target
Past daily closes and this analyst's 12-month price target. Not investment advice.
Analysts Set New Price Targets
On June 24, 2026, HC Wainwright & Co. reiterated its buy rating for ProMIS Neurosciences, setting a price target of $18. The consensus among analysts is strong, with a recommendation key of "strong buy" and a mean price target of $34.50 across five analyst opinions.
Other Institutional Activity in ProMIS Neurosciences
Several institutional investors have shown interest in ProMIS Neurosciences. Janus Henderson Group PLC opened a new position with 1,292,757 shares, valued at around $16.4 million. Deep Track Capital, LP also initiated a stake, acquiring 835,655 shares worth approximately $10.6 million. Wellington Management Group LLP followed suit, purchasing 696,378 shares valued at about $8.8 million. Trails Edge Capital Partners, LP entered with 557,103 shares, valued at $7.1 million. Meanwhile, Ally Bridge Group (NY) LLC increased its holdings by 164,880 shares, a 66.1% rise, bringing its total to 414,219 shares valued at $5.3 million.
Insider Buying and Selling at ProMIS Neurosciences, Inc.
On May 20, 2026, several insiders at ProMIS Neurosciences made significant stock purchases. CEO Neil Warma acquired 160,000 shares. Chief Scientific Officer Neil Cashman bought 50,000 shares. Eugene Williams, Josh Mandel-Brehm, and William Wyman each purchased 16,500 shares. Chief Development Officer Johanne Kaplan also acquired 50,000 shares. These transactions were not part of any pre-planned trading programs.
About ProMIS Neurosciences
ProMIS Neurosciences, Inc. is a biotechnology company headquartered in Toronto, Canada, specializing in developing treatments for neurodegenerative diseases. The company uses its proprietary discovery platform, ProMIS, to create antibody therapies and vaccines targeting misfolded protein diseases. Its lead product candidates include PMN310 for Alzheimer's disease, PMN267 for amyotrophic lateral sclerosis, and PMN442 for multiple system atrophy. Led by CEO Neil K. Warma, the company employs around 10 people.
Bottom Line
ProMIS Neurosciences is gaining attention from analysts and institutional investors alike, with HC Wainwright reaffirming its buy rating and setting a target price of $18. The company's focus on innovative treatments for neurodegenerative diseases makes it a notable player in the biotech sector. Investors should remember that analyst ratings are forward-looking assessments and do not guarantee future performance.
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