uniQure upgraded to Outperform from Sector Perform at RBC Capital

RBC Capital analyst Luca Issi upgraded uniQure (QURE) to Outperform from Sector Perform with a price target of $35, up from $11. Vinay Prasad is now leaving the FDA and this is a positive for uniQure “as it is not inconceivable” that the FDA reverts to its prior stance, the analyst tells investors. However, the firm also notes that the FDA Commissioner has also criticized uniQure and while Dr. Prasad is leaving, Dr. Makary is not. The firm believes that Prasad’s departure is likely to open up a more balanced discussion on risk/reward for Huntington’s and thinks there’s now a 50% chance that the drug ultimately gets approved, the analyst added.