Chardan Capital Trims PT on uniQure (QURE) to $35; Notes Uncertainty of Glybera in the U.S.

Chardan Capital trims its price target on uniQure N.V. (Nasdaq: QURE) from $40 to $35 and maintains a Buy rating following Q2 results and update issued earlier.

Analyst Gbola Amusa noted that the lowered price target stems from (1) uncertainty for Glybera in the US, which now leads us, out of conservatism, to remove Glybera US completely from our model ($3) and (2) our view of an increasing equity risk premium in the markets ($2). Importantly, UniQure confirmed upcoming catalysts on the important hemophilia B program (77% of our price target) and provided increasing visibility on what we consider upside options in the Sanfilippo B and Parkinson's disease programs. We thus reaffirm our Buy rating, anticipating upside from here through end 2016 on upcoming catalysts for AMT-110 (Sanfilippo B) and AMT-060 (hemophilia B).

For an analyst ratings summary and ratings history on uniQure BV click here. For more ratings news on uniQure BV click here.

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