QURE Stock’s Relentless Rally Continues Today — Here's Why HC Wainwright Is Bullish On uniQure

• H.C. Wainwright stated that it “reshapes the regulatory calculus” for the company’s Huntington’s disease gene therapy, AMT-130.
• The firm stated that it has “continued conviction” in AMT-130's existing dataset and uniQure's broader pipeline.
• Analysts at Chardan nearly doubled their price target for uniQure to $31 from $16, while keeping a ‘Buy’ rating, citing Prasad’s departure for its optimism.

uniQure NV stock continued to draw retail buzz after analysts at H.C. Wainwright noted on Tuesday that the shares are poised for a value inflection following the reported departure of a key U.S. Food and Drug Administration (FDA) official.

According to TheFly, analysts at H.C. Wainwright reiterated their ‘Buy’ rating and a $70 price target for the stock, implying a potential upside of nearly 289% from Monday’s closing price.

uniQure shares were up nearly 7% in Tuesday’s pre-market trade after a 26% surge on Monday.

Why Is HC Wainwright Bullish?

H.C. Wainwright stated that the departure of Vinay Prasad, the head of the FDA’s division of vaccines and gene therapies at the end of April, bodes well for uniQure, stating that it “reshapes the regulatory calculus” for the company’s Huntington’s disease gene therapy, AMT-130.

H.C. Wainwright stated that it has “continued conviction” in AMT-130's existing dataset and uniQure's broader pipeline.

Prasad is reportedly leaving the agency next month to return to academia.

Analysts at Chardan nearly doubled their price target for uniQure to $31 from $16, while keeping a ‘Buy’ rating. The firm cited Prasad’s departure as the reason for its price target hike.

Earlier this month, the FDA said it does not agree that uniQure’s Phase I/II data for AMT-130 are sufficient to serve as theprimary evidence of effectiveness for a marketing application for its Huntington’s disease gene therapy.

“While we did not reach alignment on a submission pathway based on the Phase I/II data, we believe the totality and durability of our data warrant continued substantive dialogue regarding how the FDA’s stated commitment to regulatory flexibility may be appropriately applied in this setting,” said uniQure CEO Matt Kapusta.

How Did Stocktwits Users React?

Retail sentiment on Stocktwits around uniQure trended in the ‘bullish’ territory at the time of writing.

One user stated that this is the “gene therapy trade reset traders waited for.”

QURE stock is down 25% year-to-date, but up 45% over the past 12 months.

Also See: Bill Ackman’s Pershing Square Files For IPO After A Delay Of More Than A Year

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