Cell surface receptor that binds to glycosaminoglycans, including chondroitin sulfate proteoglycans and heparan sulfate proteoglycans (PubMed:19833921, PubMed:21454754, PubMed:22406547). Binding to chondroitin sulfate and heparan sulfate proteoglycans has opposite effects on PTPRS oligomerization and regulation of neurite outgrowth (PubMed:21454754). Contributes to the inhibition of neurite and axonal outgrowth by chondroitin sulfate proteoglycans, also after nerve transection (PubMed:15797710, PubMed:19833921, PubMed:19780196, PubMed:21454754, PubMed:22519304, PubMed:22406547). Plays a role in stimulating neurite outgrowth in response to the heparan sulfate proteoglycan GPC2 (PubMed:21454754). Required for normal brain development, especially for normal development of the pituitary gland and the olfactory bulb (PubMed:10080191). Functions as tyrosine phosphatase (PubMed:7529177). Mediates dephosphorylation of NTRK1, NTRK2 and NTRK3 (By similarity). Plays a role in down-regulation of signaling cascades that lead to the activation of Akt and MAP kinases (PubMed:15797710). Down-regulates TLR9-mediated activation of NF-kappa-B, as well as production of TNF, interferon alpha and interferon beta (PubMed:26231120). H2O + O-phospho-L-tyrosyl-[protein] = L-tyrosyl-[protein] + phosphate Binding to large heparan sulfate proteoglycan structures promotes oligomerization (PubMed:21454754). Binding to chondroitin sulfate proteoglycan does not lead to oligomerization (PubMed:21454754). Interacts (via Ig-like domains) with NTRK3 (PubMed:25385546). Interacts (via Ig-like domains) with NTRK1, but does not form detectable complexes with NTRK2 (By similarity). Interacts with PPFIA1, PPFIA2 and PPFIA3 (By similarity). Is rapidly internalized when dendritic cells are stimulated with the TLR9 ligand cytidine-phosphate-guanosine (CpG) (PubMed:26231120). Detected in a punctate pattern along neurites and axon growth cones (PubMed:21454754). Detected in brain cortex, cerebellum and thoracic spinal cord (at protein level) (PubMed:19780196, PubMed:22519304). Detected in motor cortex and white matter of the spinal cord, but not in spinal cord gray matter (PubMed:19780196). Isoform 1 and isoform 6 are predominantly expressed in the brain (cerebrum and cerebellum) and to a lesser extent in the heart and skeletal muscle. Also found in neuronal-derived cell lines (PubMed:7529177). Detected in the ganglion cell layer of the retina and in glial cells along the optic nerve (PubMed:15797710). Detected in bone marrow and spleen plasmacytoid dendritic cells (PubMed:26231120). Expression is seen in embryos between 8 dpc and 16 dpc and a peak expression is seen at 14 dpc. A cleavage occurs, separating the extracellular domain from the transmembrane segment. This process called 'ectodomain shedding' is thought to be involved in receptor desensitization, signal transduction and/or membrane localization (By similarity). Mating heterozygous mice gives rise to Ptprs deficient mice at the expected Mendelian rate, but the pups are somewhat lighter than their littermates at birth and display strongly impaired weight gain (PubMed:10080191). After about three weeks, mutant mice weigh only 50 to 55% of normal littermates, possibly due to reduced Igf1 levels in blood serum (PubMed:10080191). Pups born after crossing Ptprs deficient mice display about 41% lethality during the first day after birth (PubMed:10080191). Adult mutants have a reduced overall brain size, with a dramatic decrease in the size of the olfactory bulb (PubMed:10080191). As a consequence, mutant mice have strongly impaired ability to perceive repellent smells (PubMed:10080191). Females are less often in estrus (PubMed:10080191). Besides, mutant mice display a decreased overall size of the pituitary glands; relative to the total size, the intermediary lobe is enlarged with a concomitant decrease in the size of the anterior and posterior lobes (PubMed:10080191). Likewise, the size of the hypothalamus is decreased (PubMed:10080191). No visible effect on the structure of the retina and the optic nerve (PubMed:15797710). Mutant mice show increased axon outgrowth from retinal ganglion cells after optic nerve transection (PubMed:15797710). Mutant mice display increased axon outgrowth after spinal cord injury (PubMed:19833921, PubMed:19780196). In aging mice, mossy fibers in the CA3C region of the hippocampus show increased sprouting (PubMed:22519304). No difference in mossy fiber sprouting is seen in the CA3A region of the hippocampus (PubMed:22519304). After kainate-induced seizures, mutant mice show increased mossy fiber sprouting in both the CA3C and the CA3A region of the hippocampus (PubMed:22519304). Mutant mice display a slight increase in dendrite length and dendrite spine density in pyramidal cells in the CA1 region of the hippocampus, and subtle changes in miniature AMPAR-mediated excitatory post-synaptic currents (PubMed:22519304). Dorsal root ganglion neurons from mutant mice show decreased stimulation of neurite outgrowth in response to the heparan sulfate proteoglycan GPC2 (PubMed:21454754). Cerebellar granule neurons and dorsal root ganglion neurons from mutant mice show decreased inhibition of neurite outgrowth in response to chondroitin sulfate proteoglycan (PubMed:19833921, PubMed:19780196, PubMed:21454754, PubMed:22406547). Sensory neurons show increased axon outgrowth after spinal cord crush injury (PubMed:19833921). After optic nerve crush injury, mutant mice show no increase in axon regeneration (PubMed:22406547). Combined disruption of Rtn4r, Rtn4rl1 and Ptprs increases axon regeneration after injury (PubMed:22406547). Belongs to the protein-tyrosine phosphatase family. Receptor class 2A subfamily.