Goldman downgrades uniQure on uncertain path in Huntington’s

Goldman Sachs downgraded uniQure to Neutral from Buy with a price target of $8, down from $63. The company reported Q4 results and outlined intentions to gain clarity from the FDA on a potential approval pathway for the Phase 1/2 gene therapy AMT-130 in Huntington’s disease by the end of 2024, the analyst tells investors in a research note. The firm says uniQure disclosed that advancing AMT-130 into late-stage development will require a clear and timely approval pathway and financial feasibility, including securing a partnership ahead of initiating a Phase 3 trial. Goldman is taking a “more measured” outlook on AMT-130 given the uncertainty on the future development and regulatory path. In addition, while it remains positive on the long-term commercial outlook for Hemgenix, the firm continues to expect a modest launch near term.