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On Tuesday, Cantor Fitzgerald began coverage on ProQR Therapeutics N.V. (NASDAQ:PRQR), a company specializing in RNA editing technologies. The firm assigned an Overweight rating to the stock, along with an $8.00 price target, well above the current price of $1.54. According to InvestingPro analysis, the stock appears undervalued, with analyst targets ranging from $4 to $15. The coverage initiation is based on ProQR’s leading position in RNA editing and its promising clinical program.
ProQR’s first clinical program is on track to commence in the second quarter of 2025 and focuses on a novel approach to treating cholestatic diseases such as Primary Sclerosing Cholangitis (PSC). This treatment targets the bile acid transporter NTCP. With a strong current ratio of 3.95 and liquid assets exceeding short-term obligations, InvestingPro data shows the company is well-positioned to fund its clinical programs. Cantor Fitzgerald’s analysts expect that the initial biomarker data, specifically serum bile acids (sBA), expected in the fourth quarter of 2025, will serve as a significant catalyst for the company.
The analysts highlighted that ProQR stands out as an interesting investment opportunity in the RNA editing space. They noted that the investment thesis for ProQR is not overshadowed by the competitive risks often associated with Alpha-1 Antitrypsin Deficiency (AATD) treatments. Instead, the risks are more closely related to the biology of NTCP in cholestatic disease.
Furthermore, Cantor Fitzgerald advised investors to also pay attention to ProQR’s pipeline programs, which include PLNPA3 for MASH, BGALT4 for ASCVD, and MECP2 for Rett syndrome. These programs are backed by strong preclinical data and rationale, indicating potential future growth avenues for the company.
The firm’s initiation of coverage on ProQR Therapeutics with an Overweight rating and a price target of $8.00 reflects confidence in the company’s clinical strategy and its prospects in the growing field of RNA editing. The company’s market capitalization stands at $162 million, with impressive revenue growth of 196% over the last twelve months. Discover more valuable insights about ProQR and access comprehensive analysis through the Pro Research Report, available exclusively on InvestingPro.
In other recent news, ProQR Therapeutics has been the subject of multiple analyst evaluations and strategic developments. H.C. Wainwright increased its price target for ProQR to $12, maintaining a Buy rating, driven by the potential of ProQR’s Axiomer technology, particularly for AX-0810, which is entering a Phase 1 study for Primary Sclerosing Cholangitis. Raymond (NSE:RYMD) James also reiterated a Strong Buy rating with a $14 target, emphasizing ProQR’s promising clinical progress and solid financials, including collaboration revenue of €4.3 million for the fourth quarter of 2024 and cash reserves of €149.4 million. Citizens JMP maintained its Market Outperform rating with an $8 target, highlighting ProQR’s anticipated Clinical Trial Application for AX0810 and upcoming milestones.
Evercore ISI initiated coverage on ProQR with an Outperform rating and a $5 target, noting the company’s emerging technology and strategic options for long-term value creation. ProQR also announced new executive appointments, with Dennis Hom named as CFO and Cristina Lopez Lopez as CMO, to advance its RNA editing platform. These leadership changes aim to support the company’s strategic transition and pipeline growth. Additionally, ProQR is set to provide updates on several candidates, including AX-1412, targeting cardiovascular disease, and AX-2402 for Rett Syndrome, with top-line data expected in 2026. The company’s ongoing developments in RNA-editing technology continue to garner attention from analysts and investors alike.
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