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Investing.com - Mizuho has maintained its Outperform rating and $30.00 price target on uniQure BV (NASDAQ:QURE), currently trading at $14.84, despite the stock falling 10% on Monday compared to the XBI’s 0.7% decline. According to InvestingPro data, the stock has declined nearly 15% over the past week.
The research firm attributes the share price weakness to investor expectations for 3-year data from the Phase 1/2 trial of AMT-130 in Huntington’s disease, which was not released on Monday as some had anticipated.
Mizuho clarified that uniQure management never positioned the 3-year readout as a "back-to-school" catalyst and confirmed it remains on track for September, with the firm estimating the data will likely be released in the latter half of the month based on historical timelines.
The investment bank views the current weakness as a buying opportunity, as it expects positive 3-year Phase 1/2 data for AMT-130 when released.
Mizuho also conducted a weekend investor survey regarding potential QURE share price movements following the 3-year data release, focusing on four different scenarios for the Huntington’s disease treatment.
In other recent news, uniQure N.V. reported second-quarter revenue of $5.3 million, which fell short of the consensus estimate of $5.4 million and marked a decline from $11.1 million in the same period last year. The revenue decrease was attributed to a $7.1 million drop in collaboration revenue and a $2.1 million decline in contract manufacturing for HEMGENIX. However, the company’s loss per share of $0.69 was narrower than the anticipated loss of $0.89. In developments related to its Fabry disease gene therapy, uniQure announced initial data from its Phase I/IIa trial of AMT-191, demonstrating substantial increases in enzyme activity and successful discontinuation of enzyme replacement therapy in all patients. The data, presented at the International Congress of Inborn Errors of Metabolism in Kyoto, Japan, showed enzyme activity increases between 27- to 208-fold compared to mean normal levels. Analyst firm H.C. Wainwright reiterated a Buy rating on uniQure, maintaining a $70.00 price target due to the promising Fabry data. Additionally, Mizuho upgraded uniQure’s stock from Neutral to Outperform, raising its price target to $30.00, citing the potential of its Huntington’s disease therapy, AMT-130.
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