Wall Street analysts recently gave uniQure a strong-buy rating. This company works on curative gene therapies. Its average price target is $69.89, which indicates 75% upside potential over the year. SVB Leerink’s analyst Joseph Schwartz set his price target at $67 for this stock, though, suggesting a 68% rise from current levels.
The company agreed to give licensing rights for AMT-061, gene therapy for Hemophilia B, to CSL Behring. This agreement caused its shares’ decline. However, uniQure is eligible to receive more than $2 billion as part of the deal, including a $450 million upfront cash payment from CSL Behring.
As a result, the firm is well funded to advance CNS assets, including AMT-130 and AMT-150. Furthermore, uniQure shifted focus to next-in-line AMT-130, which is AAV5 gene therapy for Huntington’s Disease (HD). It will eventually bring more profit to the stock.
uniQure will still work to complete the pivotal Phase 3 HOPE-B trial according to its agreement with CSL Behring. It will also manage manufacturing process validation and the manufacturing supply of AMT-061.
uniQure shares have plummeted down by 44% to $40 year-to-date. Joseph Schwartz affirmed that shares struggled for a while now. Despite that, analysts still have high hopes for this stock.
With the M&A premium now out of it, uniQure shares’ level offers an attractive buying opportunity. Investors interested in the firm’s up and coming CNS gene therapies and internal manufacturing have their chance now – commented Schwartz.
The company’s management stated that 26-week Factor IX data from all 54 patients enrolled in the trial is still on track. uniQure plans to release data from the pivotal trial by YE20.
In a Phase 2b dose-confirmation study, the firm reported a 41% FIX activity out to one year. In addition, HOPE-B is progressing according to plan. The company has continued its manufacturing process validation work ahead of the BLA/MAA submissions in America and the EU in 2021.
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