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Fly News Breaks for June 11, 2019
RHHBY, ONCE, QURE
Jun 11, 2019 | 14:06 EDT
Janney Montgomery Scott analyst Yun Zhong said he does not see any fundamental reason for today's weakness in shares of uniQure (QURE), attributing the pullback as likely due to profit taking following some recent strong performance. Roche's (RHHBY) deal to buy Spark Therapeutics (ONCE) in February had a positive impact on the overall gene therapy sector and investor speculation has contributed to an over 30% increase in uniQure shares over the past two weeks, noted Zhong, who said his valuation does not include any acquisition assumption or premium. The analyst, who sees uniQure having the first FDA approval for an AAV gene therapy for hemophilia B and the first AAV gene therapy program in the clinic for Huntington's disease, keeps a Buy rating on the stock and would be a buyer amid today's weakness.