uniQure (QURE) PT Cut to $12 at Chardan Capital Markets; 'Buy' Maintained on Simplification

November 15, 2016 9:51 AM EST
Get Alerts QURE Hot Sheet
Price: $5.90 -1.5%

Rating Summary:
    10 Buy, 1 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 10 | Down: 30 | New: 42
Trade QURE Now!
Join SI Premium – FREE

Find out which companies are about to raise their dividend well before the news hits the Street with StreetInsider.com's Dividend Insider Elite. Sign-up for a FREE trial here.

Chardan Capital Markets analyst Gbola Amusa lowered its price target on uniQure BV (NASDAQ: QURE) to $12.00 (from $20.00) on drug discontinuations after a strategic review but maintained a Buy on the simplifying of the company.

Amusa commented, "uniQure is simplifying its company structure, and will de-emphasize Sanfilippo B and Parkinson's disease programs. This morning, uniQure announced, and held a conference call to discuss, the completion of a company-wide strategic review aimed at refocusing its pipeline and consolidating its manufacturing. uniQure will prioritize its programs in hemophilia B, Huntington's disease and collaborations with Bristol-Myers Squibb (unrated) in cardiovascular disease. Additionally, the company has initiated discussions with its collaborator regarding the potential discontinuation of licensing
discussions for AMT-110 for the treatment of Sanfilippo B, and will pursue partnering opportunities for its academic-sponsored program, AMT-090, in Parkinson's disease. The company will consolidate all GMP manufacturing at its Lexington, MA facility and will maintain a smaller R&D organization in the Netherlands. The company expects to realize €5-6 mm in annualized cost savings, as it will reduce its staff by 50-60 positions (20-25%) by end-2017. With the cost savings,
uniQure believes its existing cash resources will be sufficient to fund operations into 2019, versus 2018 previously."

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

Shares of uniQure BV closed at $8.30 yesterday.



Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In






Related Categories

Analyst Comments, Analyst PT Change

Related Entities

Chardan Capital Markets, Gbola Amusa

Add Your Comment