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.
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Read More on PRQR:
- ProQR Therapeutics shares remain ‘fairly valued,’ says JMP Securities
- ProQR Therapeutics upgraded to Overweight from Neutral at Cantor Fitzgerald
- PRQR Skyrockets Following Expanded Collaboration with LLY
- ProQR Announces Conference Call to Discuss Axiomer® RNA Editing Platform
- Lilly and ProQR to Expand RNA Editing Collaboration