Analysts from Piper Jaffray and Cowen weigh in on the Netherlands-based biotechnology company Uniqure NV (NASDAQ:QURE) and technology company Supercom Ltd (NASDAQ:SPCB), as quarterly reports sent shares of both companies sharply down today.
In a research report published Monday, Piper Jaffray analyst Joshua Schimmer reiterated an Overweight rating on shares of uniQure NV, while reducing the price target to $35 (from $40), after the company released its third-quarter earnings disclosing that it will no longer pursue registration in the US for Glybera, the company’s treatment for patients with lipoprotein lipase deficiency suffering from recurring acute pancreatitis. Uniqure shares reacted to the news, dropping nearly 15% to $19.15 on heavy volume.
Schimmer commented, “We note that investors have broadly looked past Glybera to the emerging pipeline, though appreciation of the relevance of the Sanfilippo B data and awareness of the company’s recent progress to become an integrated gene therapy platform name are very low. We encourage investors to return to this story to see the progress the company is making targeting neuro, liver and heart diseases as well as evolving vectors, developing synthetic promoters, and manufacturing. Reiterate OW, though our PT is lowered from $40 to $35 as we add in Sanfilippo B but remove US Glybera estimates.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Joshua Schimmer has a total average return of 2.3% and a 51.2% success rate. Schimmer has a -11.2% average return when recommending QURE, and is ranked #945 out of 3649 analysts.
All the 9 analysts polled by TipRanks rate uniQure N.V. stock a Buy. With a return potential of 116%, the stock’s consensus target price stands at $42.25.
Supercom shares sank nearly 40% today after the company announced its preliminary third quarter revenue and updated its full year 2015 forecast. Specifically, the company expects the third quarter of fiscal 2015 revenue to be in the $5.5-6.1 million range, which is below the analysts’ expectation of $13.38 million. In reaction, Cowen analyst Robert Stone reduced the price target for the stock to $16 (from $19), while keeping the rating at Outperform.
Stone noted, “Preliminary Q3 revenue and updated 2015 guidance are well below St. as a delayed contract signing pushes about $10MM into 2016. However, progress on other fronts includes $8MM in new orders, two new customers for electronic monitoring, an MOU for mobile payments, and a cyber security acquisition. We lower 2015 estimates and trim PT to $16 (vs. $19) as we expect delays to compress the P/E.”
According to TipRanks.com, analyst Robert Stone has a total average return of -9.2% and a 37.1% success rate. Stone has a -37.3% average return when recommending SPCB, and is ranked #3492 out of 3649 analysts.