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Fly News Breaks for May 16, 2019
QURE, SRPT
May 16, 2019 | 10:31 EDT
Chardan analyst Gbola Amusa raised his price target for uniQure (QURE) to $175 from $100 to reflect the company's opportunity in Huntington's disease. The stock in morning trading is up 4.5%, or $2.63, to $61.64. uniQure, a Chardan Top Pick for 2019, could be headed towards a $5B-$10B valuation as support emerges for what could be a "best-in-class, breakthrough" Huntington's disease franchise, Amusa tells investors in a research note. In the second half of 2019, uniQure is expected to make AMT-130 the first one-time gene theraphy to enter the clinic for Huntington's, the analyst adds. Following due diligence, Amusa now expects peak AMT-130 sales of $2.7B, 25% risk-adjusted, in 2026. While the market opportunity for Huntington's is potentially larger than that for Duchenne muscular dystrophy, uniQure does have some analogy to Sarepta Therapeutics (SRPT), which moved up 114% in 2018, Amusa writes. He keeps a Buy rating on uniQure shares.
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