QURE - uniQure raised to Buy at UBS citing attractive risk reward setup

uniQure (QURE +4.2%) is trading higher for the third straight session after UBS upgraded the shares of the Dutch biotech to Buy from Neutral, citing an attractive long-term risk-reward profile ahead of key milestones expected in the next 1 – 2 years. The analysts led by Eliana Merle point to potential approval of hemophilia B therapy etranacogene dezaparvovec in late 2022 or H1 2023 and key readouts expected for Huntington’s disease candidate AMT-130 in H1 2023. Despite some uncertainty surrounding the events, “we think shares at this point already reflect significant investor caution,” the analysts wrote, arguing that shares have lost about 60% over the past six months.  However, they keep the 12-month price target for the stock unchanged at $40 per share to imply a premium of ~152% to the last close. The team expects shares to generate upside thanks to milestone payments and royalties from CSL Behring, uniQure’s

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uniQure raised to Buy at UBS citing attractive risk reward setup