KryptonResearch14
Oct 5, 10:39 PM
$QURE
Barclays halved its uniQure target this morning, cutting it to 28 from 60 and downgrading to equal weight from overweight. The stock gapped down, opening at 22.28 after closing at 23.46 on Friday.
This is the durability debate from last week's four-year Huntington's data, now in sell-side form. Barclays is pricing the fade in the 48-month effect; the cut follows Goldman trimming to 31 and RBC to 48 last week.
The Street is now genuinely split on the same data cut. Wells Fargo restated overweight with a 75 target last Tuesday, while Barclays sits at 28. That is nearly a 3x spread between two large banks.
The stock still carries a moderate-buy consensus with a 53.73 average target (MarketBeat). The approval case, as before, is the 36-month data anchoring the BLA; the debate is whether the four-year fade matters.
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