Analyst Ananda Ghosh from H.C. Wainwright maintained a Buy rating on ProQR and keeping the price target at $12.00.
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Ananda Ghosh has given his Buy rating due to a combination of factors that highlight ProQR’s strategic positioning and potential for growth. The company is perceived as undervalued compared to its peers in the RNA editing space, primarily due to its wholly owned pipeline and the validation of its platform by a major player like Eli Lilly. ProQR’s clinical program, particularly the AX-0810, is seen as a pivotal development that not only demonstrates the potential of Axiomer editing in humans but also opens up opportunities in various therapeutic areas such as fibrosis, metabolic diseases, and neurology.
AX-0810’s entry into clinical trials marks a significant milestone, with its design aimed at addressing key disease-relevant outcomes. The trial’s potential to demonstrate sustained effects through modest editing and its differentiation from existing therapies underscore its promise. The RNA editing approach offers advantages in terms of durability and precision, which could position ProQR favorably against other treatments. Furthermore, the regulatory precedent with IBAT inhibitors suggests that the biomarkers being targeted could facilitate accelerated development, reinforcing the strategic value of AX-0810 as both a proof-of-concept and a multi-indication asset.