ProQR Therapeutics price target raised to $5 from $2 at Raymond James

Raymond James analyst Steven Seedhouse raised the firm’s price target on ProQR Therapeutics (PRQR) to $5 from $2 and keeps an Outperform rating on the shares after the company announced an expansion of its collaboration with Eli Lilly (LLY). The deal was apparently driven by progress made on editing efficiency and refined distribution in the liver and CNS, and follows a competitor deal, namely GSK (GSK) licensing Wave’s (WVE) preclinical AATD candidate, Seedhouse tells investors in a research note. The analyst believes RNA editing will become an impactful subsegment of oligo-based therapeutics, and the Axiomer program makes ProQR an intriguing idea.