In a research note issued today, Chardan analyst Gbola Amusa maintained a Buy rating on shares of Uniqure NV (NASDAQ:QURE), and reduced the price target to $35 (from $40), due to uncertainty for Glybera, the company’s treatment for patients with lipoprotein lipase deficiency suffering from recurring acute pancreatitis, in the US and an increasing equity risk premium in the markets.
Amusa observed, “Consistent with prior expectations (we assumed “1H16″), the company will start the US-based trial that supports EU post-approval requirements for Glybera in LPLD in early 2016. The company now newly says that the FDA will require more than one additional study to support a BLA filing in the US. As Glybera US was $2.88 of our prior price target, we now conservatively reduce our price target in part to account for the uncertainty of Glybera in the US.”
Bottom line: “UniQure confirmed upcoming catalysts on the important hemophilia B program (77% of our price target) and provided increasing visibility on what we consider upside options in the Sanfilippo B and Parkinson’s disease programs. We thus reaffirm our Buy rating, anticipating upside from here through end 2016 on upcoming catalysts for AMT-110 (Sanfilippo B) and AMT-060 (hemophilia B).”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Gbola Amusa has a total average return of 8.6% and a 54.7% success rate. Amusa has an -6.6% average return when recommending QURE, and is ranked #697 out of 3734 analysts.
All the 6 analysts polled by TipRanks rate uniQure N.V. stock a Buy. With a return potential of 67.5%, the stock’s consensus target price stands at $42.60.