ProQR Therapeutics price target lowered to $9 from $15 at Oppenheimer

Oppenheimer analyst Andreas Argyrides lowered the firm’s price target on ProQR Therapeutics (PRQR) to $9 from $15 and keeps an Outperform rating on the shares following quarterly results. The firm notes lead program/AX-0810 for cholestatic diseases remains on track for a 2Q25 CTA submission followed by topline data in Q4 2025 from the healthy volunteers study. Oppenheimer expects clinical candidate selection in 2025 for AX-2402/Rett Syndrome and AX-2911/MASH followed by trial initiations and topline readouts in 2026. The firm sees ProQR’s initial clinical data and 2025 RNA editing catalysts re-igniting investor interest. While its fundamental outlook remains intact, negative sector sentiment continues to weigh heavily on early clinical-stage companies with no clinical data, as such, Oppenheimer increases the discount rate from 30% to 40%.