uniQure BV (QURE) Sell-Off 'Unfounded' - Oppenheimer

Oppenheimer Christopher Marai views yesterday's nearly 17% sell-off in uniQure BV (NASDAQ: QURE) unfounded. As such, the firm reiterated an Outperform rating and price target of $50.

uniQure reported 3Q15, ending the quarter with $215M in cash.

Marai commented, "Importantly, QURE clarified the timeline for AMT-060 top-line data for low-dose cohort in hemophilia-B expected January, 2016. Data to include 12-week safety and FIX-expression levels in 2 patients as noted at their R&D Day. We view 3-5% FIX-expression levels as success, though longer term durability will eventually be key. Recall data from St. Jude's study for the same gene resulted in 85% reduction in use of recombinant factor-IX over 4-years, effectively turning the disease into a milder form. Importantly, we expect clean safety of AMT-060 AAV5-vector as 8 patients previously treated for AIP with this construct displayed strong safety. We view Nov. 30 sell-off as unfounded."

For an analyst ratings summary and ratings history on uniQure BV click here. For more ratings news on uniQure BV click here.

Shares of uniQure BV closed at $18.78 yesterday.

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