Piper Jaffray Weighs in on Uniqure NV (QURE) Following 1Q:15 Results
Piper Jaffray analyst Joshua Schimmer weighed in today with his opinions on Uniqure NV (NASDAQ:QURE) after the company released its first quarter earnings and updated the timing of key pipeline programs. Schimmer reiterated an Overweight rating on the stock with a price target of $40.00. Shares of QURE are currently trading at $30.25, up $0.19, or 0.63%.
Schimmer observed, “We continue to believe 2015 will mark an important inflection point for QURE as the company is expected to report initial clinical data from its hemophilia B gene therapy program as well as Sanfilippo B in 2H 2015. The company ended the quarter with cash and cash equivalents of €43.2 M, but subsequent to quarter end raised an additional net €77.9 M in a follow-on in April and received a $50 M upfront payment and $38 M equity investment from BMS following the collaboration agreement.”
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 16.7% and a 71.8% success rate. Schimmer has a 5.6% average return when recommending QURE, and is ranked #99 out of 3623 analysts.
All the 6 analysts polled by TipRanks rate uniQure N.V. stock a Buy. With a return potential of 44.2%, the stock’s consensus target price stands at $42.60.