Sep. 24 at 6:15 PM
Stifel⬆️the PT on
$QURE to
$65 from
$30, reit'd at Buy and said, we're reiterating our Buy rating on QURE following detailed results from the 3yr AMT-130 data.
Bottom line: we believe the data suggest a larger market opportunity (we model >
$1B US in 2031) and also a higher probability-of-approval (we model 80%). On the regulatory front, in the context of a broader conversation around "how flexible will the new FDA be?", we think AMT-130 sets up well given
(1) the severity of Huntington's-and the fact that most patients are adults,
(2) the strength of the AMT-130 efficacy data,
(3) QURE's attained alignment with FDA ahead of the 3-year data and
(4) QURE's receipt of BTD on the AMT-130 2-year data.
And on the market opportunity, there does continue to be the relevant question around capacity, but KOL feedback here has been encouraging, AMT-130 pricing should be high, and we think the HD population should be highly motivated for a potential disease-modifying treatment.
$PTCT $WVE $IONS $NBIX