uniQure (NASDAQ:QURE) Shares Gap Up on Analyst Upgrade

Key Points

• uniQure's stock price gapped up significantly after Wells Fargo & Company raised its price target from $30.00 to $65.00, resulting in an opening price of $50.43 after closing at $47.50.
• Multiple research firms have issued positive ratings, with Chardan Capital setting a target price of $76.00 and a "buy" rating, contributing to a current consensus target price of $61.36.
• Hedge funds have notably increased their stakes in uniQure, with Headlands Technologies LLC's holdings rising by 304.4% in the second quarter, reflecting strong institutional interest in the stock.

uniQure N.V. (NASDAQ:QURE - Get Free Report)'s stock price gapped up before the market opened on Thursday after Wells Fargo & Company raised their price target on the stock from $30.00 to $65.00. The stock had previously closed at $47.50, but opened at $50.43. Wells Fargo & Company currently has an overweight rating on the stock. uniQure shares last traded at $50.29, with a volume of 5,532,913 shares.

A number of other research firms also recently issued reports on QURE. Wall Street Zen raised shares of uniQure from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. Chardan Capital lifted their price target on uniQure from $35.00 to $76.00 and gave the company a "buy" rating in a research report on Thursday. Leerink Partners lifted their target price on shares of uniQure from $48.00 to $68.00 and gave the company an "outperform" rating in a research report on Wednesday. Stifel Nicolaus raised their price objective on uniQure from $30.00 to $65.00 and gave the company a "buy" rating in a report on Wednesday. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $70.00 price objective on shares of uniQure in a research note on Wednesday. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $61.36.

Hedge Funds Weigh In On uniQure

Large investors have recently modified their holdings of the business. Headlands Technologies LLC lifted its stake in uniQure by 304.4% in the 2nd quarter. Headlands Technologies LLC now owns 42,444 shares of the biotechnology company's stock valued at $592,000 after buying an additional 31,948 shares in the last quarter. Tower Research Capital LLC TRC raised its position in uniQure by 358.0% in the second quarter. Tower Research Capital LLC TRC now owns 7,085 shares of the biotechnology company's stock valued at $99,000 after purchasing an additional 5,538 shares during the period. Corient Private Wealth LLC boosted its holdings in uniQure by 100.0% in the 2nd quarter. Corient Private Wealth LLC now owns 21,260 shares of the biotechnology company's stock worth $296,000 after acquiring an additional 10,630 shares during the period. Shay Capital LLC increased its stake in uniQure by 21.4% during the 2nd quarter. Shay Capital LLC now owns 99,383 shares of the biotechnology company's stock worth $1,385,000 after buying an additional 17,534 shares during the period. Finally, Sofinnova Investments Inc. boosted its holdings in uniQure by 185.5% in the second quarter. Sofinnova Investments Inc. now owns 1,558,356 shares of the biotechnology company's stock valued at $21,723,000 after purchasing an additional 1,012,585 shares during the last quarter. 78.83% of the stock is owned by hedge funds and other institutional investors.

uniQure Trading Up 4.3%

The company has a quick ratio of 9.98, a current ratio of 9.98 and a debt-to-equity ratio of 1.53. The business's 50 day moving average is $15.90 and its 200-day moving average is $14.32. The firm has a market cap of $2.72 billion, a P/E ratio of -12.67 and a beta of 0.14.

uniQure (NASDAQ:QURE - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. 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 for the quarter, compared to the consensus estimate of $5.00 million. As a group, analysts forecast that uniQure N.V. will post -3.75 earnings per share for the current fiscal year.

uniQure Company Profile

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.

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