H.C. Wainwright Remains a Buy on ProQR

By Austin Angelo

In a report released today, Andrew Fein from H.C. Wainwright reiterated a Buy rating on ProQR (NASDAQ: PRQR), with a price target of $40. The company’s shares closed yesterday at $4.90.

Fein said:

“Emile Yu – (212-916-3972) / [email protected] Takeaways From the R&D Day We see multipronged value going forward after last week’s R&D Day. We believe that in the last three years since its IPO, ProQr has executed successfully on a transformation from a one-oligo CF company to an RNA- platform pipeline with multiple orphan/pediatric indications on deck. In doing so, the company has elected to make RNA technology its core competency, and is now doubling down by leveraging this core competency to hit multiple orphan targets. Meanwhile, as we look at the development and clinical plan, we applaud the array of indications that appears designed to minimize risk in formulation and delivery, and shorten development/regulatory time. According to management, the current goal is to have three clinical programs with data by end-2018. In our view, this looks achievable, with Phase 1b CF data on tap for this Sept, the IND for the Phase 1 LCA study now open, and a study in EB planned for 2018. Of note, we highlight that the rising programs in ophtho and derm may allow for a short trial and regulatory timetable, potentially even beating the CF program on a race to commercial value, all else equal.”

According to TipRanks.com, Fein is a 4-star analyst with an average return of 6.1% and a 45.6% success rate. Fein covers the Healthcare sector, focusing on stocks such as Neptune Technologies & Bioresources Inc, DBV Technologies SA – American, and Proteostasis Therapeutics Inc.

ProQR has an analyst consensus of Hold.

Based on ProQR’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $0 and GAAP net loss of $11.17 million. In comparison, last year the company earned revenue of $0 and had a GAAP net loss of $11.24 million.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

ProQR Therapeutics NV operates as a biopharmaceutical company, which engages in the discovery and development of Ribonucleic Acid RNA based therapeutics for the treatment of genetic disorders. Its initial focus is on the development of a disease-modifying therapy for the treatment of cystic fibrosis (CF). The company was founded by Daniel de Boer, Gerard Platenburg, Henri Termeer and Dinko Valerio on February 21, 2012 and is headquartered in Leiden, the Netherlands.