uniQure (NASDAQ:QURE) Shares Gap Up Following Strong Earnings

Key Points

• uniQure (NASDAQ:QURE) shares experienced a significant increase, opening at $14.86, following a prior close of $13.68, with a last traded price of $15.12.
• Analysts have mixed opinions on uniQure, with target prices ranging from $28.00 to $70.00, resulting in a consensus rating of "Moderate Buy" and a target price of $37.55.
• The company reported earnings of ($0.82) per share for its latest quarter, exceeding estimates of ($1.07), but revenue was significantly below expectations at $1.57 million compared to an estimated $5.93 million.

uniQure N.V. (NASDAQ:QURE - Get Free Report)'s share price gapped up prior to trading on Wednesday after the company announced better than expected quarterly earnings. The stock had previously closed at $13.68, but opened at $14.86. uniQure shares last traded at $15.12, with a volume of 725,655 shares changing hands.

The biotechnology company reported ($0.69) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.89) by $0.20. uniQure had a negative net margin of 1,387.98% and a negative return on equity of 1,010.74%. The company had revenue of $5.26 million during the quarter, compared to the consensus estimate of $5.00 million.

Wall Street Analyst Weigh In

QURE has been the subject of a number of research reports. Cantor Fitzgerald set a $47.00 price target on shares of uniQure in a research note on Wednesday. Wall Street Zen upgraded shares of uniQure from a "sell" rating to a "hold" rating in a report on Saturday. Guggenheim restated a "buy" rating and issued a $28.00 price objective on shares of uniQure in a report on Monday, May 12th. Chardan Capital set a $35.00 price objective on shares of uniQure and gave the stock a "buy" rating in a report on Tuesday, July 29th. Finally, HC Wainwright restated a "buy" rating and issued a $70.00 price objective on shares of uniQure in a report on Thursday, May 29th. Four research analysts have rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $36.55.

Insider Activity

In other news, Director Robert Gut sold 3,336 shares of the stock in a transaction that occurred on Friday, June 20th. The shares were sold at an average price of $14.45, for a total transaction of $48,205.20. Following the sale, the director owned 56,879 shares in the company, valued at $821,901.55. This represents a 5.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Jack Kaye sold 2,112 shares of the stock in a transaction that occurred on Friday, June 20th. The shares were sold at an average price of $14.45, for a total transaction of $30,518.40. Following the sale, the director owned 20,439 shares in the company, valued at approximately $295,343.55. The trade was a 9.37% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 22,144 shares of company stock valued at $322,426. Company insiders own 4.79% of the company's stock.

Institutional Investors Weigh In On uniQure

Several institutional investors and hedge funds have recently added to or reduced their stakes in QURE. JPMorgan Chase & Co. boosted its holdings in uniQure by 14.7% in the fourth quarter. JPMorgan Chase & Co. now owns 453,784 shares of the biotechnology company's stock worth $8,014,000 after purchasing an additional 58,246 shares during the last quarter. Alliancebernstein L.P. boosted its holdings in uniQure by 14.2% in the fourth quarter. Alliancebernstein L.P. now owns 203,919 shares of the biotechnology company's stock worth $3,601,000 after purchasing an additional 25,319 shares during the last quarter. Franklin Resources Inc. boosted its holdings in uniQure by 33.1% in the fourth quarter. Franklin Resources Inc. now owns 1,987,688 shares of the biotechnology company's stock worth $35,103,000 after purchasing an additional 494,726 shares during the last quarter. Headlands Technologies LLC purchased a new stake in uniQure in the fourth quarter worth approximately $326,000. Finally, Geode Capital Management LLC boosted its holdings in uniQure by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 520,553 shares of the biotechnology company's stock worth $9,198,000 after purchasing an additional 11,951 shares during the last quarter. Hedge funds and other institutional investors own 78.83% of the company's stock.

uniQure Stock Down 1.7%

The company has a quick ratio of 11.99, a current ratio of 9.98 and a debt-to-equity ratio of 1.53. The company's fifty day moving average is $14.83 and its 200-day moving average is $13.68. The company has a market cap of $751.17 million, a PE ratio of -3.49 and a beta of 0.11.

About uniQure

uniQure N.V. develops treatments for patients suffering from rare and other devastating diseases. It offers HEMGENIX that has completed Phase III HOPE-B pivotal trial for the treatment of hemophilia B. The company also develops AMT-130, a gene therapy that is in Phase I/II clinical study for the treatment of Huntington's disease.