Leerink Sees Uniqure NV (QURE) Pipeline On Track

Leerink analyst Michael Schmidt provides a second-quarter recap for shares of Uniqure NV (NASDAQ:QURE), reiterating an Outperform rating with a $27 price target, which represents a nearly 223% increase from where the shares last closed.

Schmidt believes, “QURE’s market cap reflects no value for hemophilia B gene therapy AMT-060 or its gene therapy platform on competitive concerns, but QURE is well capitalized, ending 2Q16 with €165.6M in cash and equivalents and we think its platform, which includes manufacturing and CNS and CV programs, holds value.” Moreover, the analyst notes that in the past, the biotech firm has guided to operating sufficient cash flow to fund operations well into 2H18.

“Next updates for AMT-060 include one-year follow-up data from a low-dose cohort initially presented at EHA, and first data from a high-dose cohort by YE16, which could provide additional supportive data. While several other hemophilia B gene therapy programs are currently in clinical development (e.g., ONCE, DMTX, SGMO), and ONCE has generated highly impressive clinical data to date, we believe that it is unlikely that one single gene therapy product will be used to treat all hemophilia B patients,” the analyst concludes.

According to TipRanks, five-star analyst Michael Schmidt is ranked #244 out of 4,127 analysts. Schmidt has a 57% success rate and realizes 11.8% in his annual returns. However, when recommending QURE, Schmidt faces a loss of 23.5% in average profits on the stock.

TipRanks analytics demonstrate QURE as a Strong Buy. 100% of analysts polled in the last 3 months rate a Buy on QURE. The consensus price target stands at $25.00, marking a 198% upside from where the stock is currently trading.

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