Piper Jaffray Cuts Price Target on uniQure (QURE) Following 2H Update
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Piper Jaffray maintained an Overweight rating on uniQure (NASDAQ: QURE), and cut the price target to $16.00 (from $26.00), following a 2H outlook. Investor focus continues to remain on hemophilia B and the constantly evolving competitive landscape. There may be market segmentation based on AAV neutralizing antibodies and immunogenicity, but it's still early and the field is rapidly evolving. Also, QURE's Sanfilippo B program is expected to provide a 30-month clinical update in early 2017.
Analyst Joshua Schimmer commented, "QURE remains focused on advancing its hemophilia B gene therapy with high dose data by YE along with updated 30 month Sanfilippo B data in early 2017. Though these indications face significant competition and QURE's position is still evolving, QURE's approaches may still have a niche role in the future treatment paradigm. That said, we are still hopeful that the company will ultimately be able to leverage its industry leading collaborations (e.g., Synpromics, 4D Molecular Therapeutics) and manufacturing capabilities to extract value and create a platform of opportunities that investors can more easily rally behind, which keeps us constructive on the shares. We are revising our valuation (see report for details) and PT moves from $26 to $16, still well ahead of the latest close."
Shares of uniQure BV closed at $8.36 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst PT Change
Related EntitiesPiper Jaffray, Joshua Schimmer
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