Why UniQure Stock Is Soaring

UniQure N.V. QURE shares are trading higher Tuesday after the company announced updated interim data from its ongoing U.S. and European Phase I/II clinical trials of AMT-130 for the treatment of Huntington’s disease.

The Details:

UniQure said a statistically significant, dose-dependent, slowing in disease progression measured by cUHDRS was observed through 24 months in patients receiving the high dose of AMT-130. The company also said it observed a statistically significant reduction of NfL in cerebrospinal fluid (CSF) in patients treated with AMT-130.

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“We are very pleased with these new data demonstrating a statistically significant, dose-dependent slowing of the progression of Huntington’s disease and lowering of NfL in the CSF at 24 months,” stated Walid Abi-Saab, M.D., chief medical officer of UniQure. 

“We believe this is the first clinical trial of any investigational medicine for Huntington’s disease to show evidence of a potential long-term clinical benefit and reduction of a key marker of neurodegeneration."

The company said it expects to hold a Type B, multi-disciplinary RMAT meeting with the U.S. Food and Drug Administration (FDA) to present the updated data and discuss potential expedited clinical development pathways and accelerated approval in the second half of 2024. 

UniQure shares are moving on heavy trading volume following the company's announcement. According to data from Benzinga Pro, more than 27.7 million shares have already been traded in Tuesday's session, compared to the stock’s 100-day average of less than 573,000 shares.

Is QURE A Good Stock To Buy?

Wall Street analysts view UniQure on the whole as a Buy, given the history of coverage over the past three months. Uy Ear from Mizuho in UniQure is the most bearish, expecting a 14.29% fall in the stock in the coming year.

But looking at how the market as a whole thinks of the stock, you can reference historical price action for views on whether investors feel strongly about the stock one way or another. In the past 3 months, UniQure rose 11.69%, which indicates that opinion improved on the business and how attractive it is to own based on either its stock price, or underlying fundamentals, like revenue, which rose 59.34% over the past year.

A complete overview of how Wall Street views individual stocks is available here, while real time updates on the latest analyst actions will be delivered via Benzinga PRO. Try it for free.

QURE Price Action: According to Benzinga Pro, UniQure shares are up 59% at $6 at the time of publication Tuesday.

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