China smartphone shipments slumped in June on inventory overhang: Jefferies
On Friday, Raymond (NSE:RYMD) James reiterated its Strong Buy rating and $14.00 price target for ProQR Therapeutics N.V. (NASDAQ:PRQR), highlighting the company’s promising clinical developments and solid financials following its fourth-quarter earnings report for 2024. According to InvestingPro data, analyst targets range from $4 to $15, though the stock has faced headwinds, declining 34% year-to-date. ProQR, a biotechnology firm focused on RNA therapies for severe genetic disorders, has recently demonstrated clinical progress with its Axiomer platform.
The lead candidate from this platform, AX-0810, is being developed to treat cholestatic diseases by targeting NTCP. Initial data from this study is expected in the fourth quarter of 2025. Additionally, ProQR has outlined plans to initiate clinical studies for three more candidates: AX-1412 for cardiovascular disease, AX-2402 for Rett Syndrome, and AX-2911 for MASH, with top-line data anticipated in 2026.
The company’s collaboration with the Rett Syndrome Research Trust has been expanded, providing up to $9.2 million to support the development of AX-2402. ProQR also appointed Dr. Peter A. Beal as Chief ADAR scientist, enhancing its research capabilities.
Financially, ProQR reported collaboration revenue of €4.3 million and operating expenses of €14.5 million for the fourth quarter of 2024. The earnings per share (EPS) was reported at €(0.09). As of the end of the fourth quarter, ProQR’s cash and cash equivalents stood at €149.4 million. This includes approximately €71.6 million from recent financing completed on October 25, 2024. The company anticipates its cash runway to extend into mid-2027, providing a stable financial foundation for ongoing and future research activities. InvestingPro analysis reveals the company maintains a healthy current ratio of 3.95, though it’s quickly burning through cash with negative free cash flow of $35.5 million in the last twelve months. Get access to 10+ additional ProTips and comprehensive financial metrics with InvestingPro’s detailed research report.
In other recent news, ProQR Therapeutics N.V. has seen notable developments. Citi analysts upgraded ProQR’s stock rating from Neutral to Buy, setting a price target of $4.00. This decision was influenced by the market’s minimal valuation of ProQR’s leading drug candidate, AX-0810, which targets cholestatic diseases. Meanwhile, Jones Trading initiated coverage with a Buy rating and a more optimistic price target of $11.00. Jones Trading highlighted ProQR’s focus on RNA editing and its potential in treating both rare and common diseases. They also noted the anticipated release of Phase 1 data for the PSC program in 2025, which could demonstrate the company’s RNA editing capabilities. Furthermore, the collaboration with Eli Lilly (NYSE:LLY) was acknowledged as a significant asset, suggesting potential milestone payments. Both analyst firms have expressed a positive outlook on ProQR’s future, given its strategic focus and pipeline advancements.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.