In a report released today, Ananda Ghosh from H.C. Wainwright maintained a Buy rating on ProQR, with a price target of $12.00.
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Ananda Ghosh has given his Buy rating due to a combination of factors that highlight ProQR’s promising advancements and strategic positioning in the RNA editing landscape. The company’s Axiomer RNA editing platform, particularly the AX-0810 program, is showing significant momentum, with a clinical trial application submitted to the EMA and initial human dosing expected soon. This program’s unique approach in modulating NTCP in hepatocytes presents a novel mechanism that could potentially avoid the gastrointestinal issues associated with other treatments.
Additionally, ProQR’s pipeline is diverse, with promising candidates like AX-2402 for Rett syndrome and AX-2911 for MASH, demonstrating significant genetic correction and potential therapeutic benefits. The strategic partnership with Eli Lilly, which has been expanded to include multiple CNS/PNS targets, further underscores the confidence in ProQR’s scientific capabilities and strategic direction. External endorsements and potential positive data from competitors in the RNA editing field could further validate ProQR’s approach and accelerate its market recognition.
Ghosh covers the Healthcare sector, focusing on stocks such as Structure Therapeutics, Inc. Sponsored ADR, ACADIA Pharmaceuticals, and ProQR. According to TipRanks, Ghosh has an average return of 14.1% and a 65.38% success rate on recommended stocks.
In another report released on August 11, Evercore ISI also maintained a Buy rating on the stock with a $5.00 price target.