Ananda Ghosh, an analyst from H.C. Wainwright, maintained the Buy rating on ProQR. The associated price target remains the same with $12.00.
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Ananda Ghosh’s rating is based on the promising outlook for ProQR’s AX-0810, which is expected to address a significant unmet need in treating Primary Sclerosing Cholangitis (PSC). The upcoming Phase 1b readout is anticipated to validate the drug’s mechanism of action by demonstrating its effectiveness in engaging its target through changes in bile acid profiles and TUDCA kinetics.
The potential of AX-0810 to offer a distinct advantage over existing treatments, such as IBAT inhibitors, by directly addressing toxic intracellular accumulation, is a key factor in the Buy rating. Furthermore, the regulatory path has been clarified by precedents set by similar drugs, which enhances confidence in the drug’s approval prospects. These factors collectively contribute to a positive outlook for ProQR’s stock, justifying the Buy recommendation.
According to TipRanks, Ghosh is a 5-star analyst with an average return of 89.4% and a 78.43% success rate. Ghosh covers the Healthcare sector, focusing on stocks such as Maze Therapeutics, Inc., Structure Therapeutics, Inc. Sponsored ADR, and ProQR.