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On Monday, H.C. Wainwright reaffirmed its confidence in uniQure BV (NASDAQ:QURE), maintaining a Buy rating and significantly raising the price target to $70 from the previous $25. Currently trading at $15.67 with a market cap of $764 million, the stock has shown remarkable momentum with an 88% surge over the past six months, according to InvestingPro data. The firm's analysts expressed optimism following a meeting with the gene therapy company's top executives, including CEO Matt Kapusta, CMO Walid Abi-Saab, and IR head Chiara Russo.
The discussions centered on uniQure's AMT-130 program, which is being developed as a potential disease-modifying treatment for Huntington's disease, a fatal neurodegenerative disorder. H.C. Wainwright's analysts were encouraged by the clinical data generated thus far and the company's interactions with regulatory authorities.
Looking forward, uniQure is approaching a critical phase as it prepares for a potential Biologics License Application (BLA) filing. While InvestingPro data indicates the company is quickly burning through cash with negative EBITDA of -$189 million, it maintains a strong liquidity position with a current ratio of 6.51. The next big step for the company involves further engagement with the FDA in the first half of 2025 to finalize the statistical analysis plan and technical CMC requirements.
Based on these developments, H.C. Wainwright has selected uniQure as a top pick in its 2025 universe of covered companies. The anticipation of the upcoming regulatory update for the AMT-130 program has contributed to the firm's bullish stance on uniQure's prospects. With analyst targets ranging from $19.92 to $57.37, and a Strong Buy consensus recommendation, the stock shows significant potential. Discover more insights and 13 additional ProTips with InvestingPro.
The analyst, Patrick Trucchio, highlighted the significance of the AMT-130 program and its potential impact on treating Huntington's disease. The recent meeting with uniQure's management has reinforced H.C. Wainwright's belief in the therapy's promise and the company's strategic approach to navigating the regulatory landscape.
In other recent news, uniQure N.V. announced the pricing of its public offering of over 4 million shares at $17.00 each, expecting to raise approximately $75 million. The offering is managed by Leerink Partners, Stifel, and Guggenheim Securities, among others. In another development, uniQure has made significant progress with its gene therapy product, AMT-130, for Huntington's Disease. The U.S. Food and Drug Administration (FDA) has agreed to an accelerated approval process for AMT-130, a development positively received by firms like Raymond (NSE:RYMD) James, Stifel, and RBC Capital Markets.
TD Cowen, through its analyst Joseph Thome, outlined anticipated catalysts for 2025 that are expected to generate significant investor interest, including clinical trial data releases and regulatory milestones across various firms. Mizuho (NYSE:MFG) Securities updated its perspective on uniQure, increasing its price target for the company's stock to $20.00, reflecting growing confidence in uniQure's AMT-130. However, Mizuho noted that the market has already priced in the potential for accelerated approval of AMT-130.
Lastly, Goldman Sachs maintained its Neutral rating on uniQure shares, citing the FDA's review of AMT-130 data. The firm expressed confidence that the existing data on cUHDRS, along with reductions in cerebrospinal fluid neurofilament light chain, will be sufficient for an accelerated approval of AMT-130. These recent developments reflect uniQure's progress in gene therapy, particularly with AMT-130 for Huntington's disease and AMT-162 for ALS.
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