H.C. Wainwright Believes uniQure NV (QURE) Still Has Room to Grow

In a report released today, Debjit Chattopadhyay from H.C. Wainwright maintained a Buy rating on uniQure NV (NASDAQ: QURE), with a price target of $48. The company’s shares closed on Friday at $38.46, close to its 52-week high of $43.23.

Chattopadhyay noted:

“Our new $48 price target, is based on a 13-year DCF analysis that incorporates rNPV of two pipeline products, including: (1) Hemophilia B at a 70% POS driven by company’s clinical update as of September 23, 2018, vs. prior 65%; and (2) 5% POS. We anticipate Hemophilia B commercial launch during 2021 and model risk-adjusted peak sales of roughly $981M, upped from $820M previously, during 2028. We assume a launch price of $772.5K (durability >5 years), and at peak, we estimate about 775 patients in the U.S. and approximately 1,050 patients in the developed markets who would have received uniQure’s gene therapy, which represents a 50% of the overall commercial opportunity.”

According to TipRanks.com, Chattopadhyay is a 3-star analyst with an average return of 2.1% and a 46.4% success rate. Chattopadhyay covers the Healthcare sector, focusing on stocks such as Global Blood Therapeutics, Voyager Therapeutics Inc, and Mersana Therapeutics Inc.

uniQure NV has an analyst consensus of Strong Buy, with a price target consensus of $51.50.

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Based on uniQure NV’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $20.59 million. In comparison, last year the company had a GAAP net loss of $21.27 million.

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uniQure NV engages in the research, development, and commercialization of gene therapies. Its discoveries intend to treat hemophilia, Huntington’s disease, glybera, and cardiovascular problems. The company was founded on January 9, 2012 and is headquartered in Amsterdam, the Netherlands.