In a report released today, Elemer Piros from Cantor Fitzgerald initiated coverage with a Buy rating on uniQure NV (NASDAQ: QURE) and a price target of $58. The company’s shares opened today at $32.56.
Piros observed:
“We are initiating coverage on uniQure with an Overweight rating and 12- month price target of $58. uniQure is developing AAV-vector-based gene therapies for the treatment of severe genetic disorders (hemophilia A and B, Huntington’s disease, and cardiovascular disease). The company recently initiated the first gene therapy Phase 3 “HOPE-B” study of AMT-061 in hemophilia B. Given the previous success we’ve seen in hemophilia gene therapy trials, along with the FDA stance, we believe uniQure has the potential to be the leader in hemophilia B treatment.”
According to TipRanks.com, Piros ‘ ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -6.1% and a 41.0% success rate. Piros covers the Healthcare sector, focusing on stocks such as Spring Bank Pharmaceuticals Inc, Strongbridge Biopharma Plc, and Global Blood Therapeutics.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for uniQure NV with a $50 average price target, representing a 53.6% upside. In a report issued on July 16, H.C. Wainwright also maintained a Buy rating on the stock with a $42 price target.
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Based on uniQure NV’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $18.79 million. In comparison, last year the company had a GAAP net loss of $21.27 million.
Based on the recent corporate insider activity of 33 insiders, corporate insider sentiment is negative on the stock.
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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.
