ProQR Therapeutics upgraded to Buy from Neutral at Citi

Citi upgraded ProQR Therapeutics (PRQR) to Buy from Neutral with a $4 price target The firm is revisiting its thesis with shares trading nearly at cash with minimal value being attributed to lead drug AX-0810, the company’s RNA editing therapy targeting the bile acid transporter for cholestatic diseases. Given the continued stock decline post the mid-October 2024 spike, and with a potentially value-inflecting top-line readout later this year, the firm is upgrading the stock, adding that the pipeline should be worth more than roughly $50M.