UniQure belongs to the tech sector. This company delivers curative gene therapies that could transform the lives of patients. The stock’s shares have tumbled down by 44% to $40 year-to-date, not much higher than its 52-week low of $36.20. However, analysts still have high hopes for it.
SVB Leerink’s analyst Joseph Schwartz affirmed that shares struggled after the company agreed to give licensing rights for AMT-061, gene therapy for Hemophilia B, to CSL Behring. But the analyst pointed out that uniQure currently shifts focus to next-in-line AMT-130, which is AAV5 gene therapy for Huntington’s Disease (HD).
With the M&A premium now out of stock, its shares’ current level offers an attractive buying opportunity for those investors interested in the firm’s up and coming CNS gene therapies and internal manufacturing, as well as robust intellectual property and knowhow – stated Schwartz.
Furthermore, according to its agreement with CSL Behring, uniQure will work to complete the pivotal Phase 3 HOPE-B trial and manufacturing process validation, along with the manufacturing supply of AMT-061.
The management declared that 26-week Factor IX data from all 54 patients enrolled in the trial is still on track. In addition, they will release topline data from the pivotal trial by YE20. In a Phase 2b dose-confirmation study, the company reported a 41% FIX activity out to one year.
Thus far, HOPE-B is progressing according to plan. UniQure has continued its manufacturing process validation work ahead of the BLA/MAA submissions in the U.S. and EU in 2021.
How much could investors gain with this stock?
As part of the deal, uniQure is eligible to receive more than $2 billion, including a $450 million upfront cash payment from CSL Behring. So, the company is well funded to rapidly advance CNS assets, including AMT-130 and AMT-150.
Considering that, Schwartz attached the stock a $67 price target, suggesting 68% upside potential from current levels. Wall Street also gave uniQure a strong-buy rating, setting a $69.89 average price target, which indicates 75% upside potential.
