ProQR (PRQR) received a Buy rating and a $40 price target from Cantor Fitzgerald analyst Eliana Merle today. The company’s shares opened today at $18.35.
Merle commented:
“. Initiating at OW and $40 12-month PT. ProQR is a European RNA-based platform technology company focused on developing therapeutics for inherited blindness. Although shares are up close to 500% YTD (vs. XBI down 9%) after positive proof of concept in first ophthalmology drug QR-110, we think this could be just the beginning of a major turning point for the company’s platform. In September, ProQR established the first proof of concept for its RNA platform in inherited ophthalmology with lead asset QR-110. We think QR-110 could be just the tip of the iceberg in terms of PRQR’s platform potential in inherited forms of blindness. In this report, we are focused on the company’s next clinical program in Usher’s Syndrome which represents a larger opportunity than QR-110 (we estimate $1.1B peak vs. $300M peak) and is guided to have clinical data in 2019.”
According to TipRanks.com, Merle is ranked #3931 out of 4883 analysts.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for ProQR with a $29 average price target, a 58.0% upside from current levels. In a report issued on October 30, H.C. Wainwright also maintained a Buy rating on the stock with a $20 price target.
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The company has a one-year high of $24 and a one-year low of $2.75. Currently, ProQR has an average volume of 488K.
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ProQR Therapeutics NV is a biopharmaceutical company, which engages in the discovery and development of Ribonucleic Acid RNA based therapeutics for the treatment of genetic disorders. Its initial focus is on the development of a disease-modifying therapy for the treatment of cystic fibrosis.
