Uniqure NV (NASDAQ:QURE), a leader in human gene therapy, today announced the appointment of Jonathan Garen as Chief Business Officer. Mr. Garen has more than 20 years of experience in business development within the pharmaceutical sector, having previously held senior positions at Actavis plc, Forest Laboratories, Inc. and Pharmacia Corporation. Mr. Garen will be responsible for strategic transactions at uniQure, with a focus on business development and alliance management. Mr. Garen will report to Daniel Soland, Chief Executive Officer of uniQure, and will be based in the Company’s Lexington, Massachusetts facility.
“Jon has an accomplished track record in driving business development initiatives and executing value-generating strategic transactions,” said Mr. Soland. “Collaborations, licenses and other corporate development initiatives are a vital part of our growth strategy at uniQure, and Jon’s vast experience will be instrumental as we further develop and execute our corporate strategy.”
“I am very pleased to be joining uniQure at this important time for the company,” stated Jonathan Garen. “There are tremendous opportunities ahead as we further advance our gene therapy clinical programs and research pipeline, and I look forward to working with Dan and the leadership team to maximize our strategic opportunities.”
Mr. Garen was most recently with Syros Pharmaceuticals, Inc., a venture-backed company developing medicines that control genes, where he served as Chief Business Officer. Prior to joining Syros, he was Assistant Vice President, Business Development at Forest Laboratories, Inc. from 2003 to 2014, and subsequently held the same position at Actavis plc following its acquisition of Forest Laboratories. Earlier in his career, Mr. Garen was Director of Global Licensing with Pharmacia Corporation and a Founder and Vice President of Technology Exchange, Inc.
Mr. Garen holds a Master of Environmental Science degree from Yale University and a Bachelor of Science degree in Physics from Massachusetts Institute of Technology. (Original Source)
Shares of uniQure closed yesterday at $7.67, up $0.07 or 0.92%. QURE has a 1-year high of $36.38 and a 1-year low of $6.75. The stock’s 50-day moving average is $10.44 and its 200-day moving average is $13.38.
On the ratings front, QURE has been the subject of a number of recent research reports. In a report issued on June 30, Piper Jaffray analyst Joshua Schimmer reiterated a Buy rating on QURE, with a price target of $26, which implies an upside of 239.0% from current levels. Separately, on June 14, Oppenheimer’s Christopher Marai reiterated a Buy rating on the stock and has a price target of $23.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Joshua Schimmer and Christopher Marai have a total average return of -13.9% and 6.2% respectively. Schimmer has a success rate of 30% and is ranked #3913 out of 4013 analysts, while Marai has a success rate of 48% and is ranked #312.
Overall, 7 research analysts have given a Buy rating to the stock. When considering if perhaps the stock is under or overvalued, the average price target is $23.00 which is 199.9% above where the stock closed yesterday.
uniQure NV engages in the discovery, development, and commercialization of gene therapies. Its core gene therapies include AMT-060 for the treatment of hemophilia B; preclinical S100A1 therapeutic for the treatment of congestive heart failure; and Glybera a gene therapy that is designed to restore the LPL enzyme activity required to enable the processing or clearance of fat-carrying chylomicron particles formed in the intestine after a fat-containing meal.