ProQR Therapeutics NV growth trends
ProQR Therapeutics NV (PRQR) stock has risen 153.7% in the past month, from $7.35 on August 10 to $18.65 on September 10. The growth was mainly driven by positive interim results of its Phase ½ clinical trial evaluating investigational RNA-based oligonucleotide QR-110 in Leber congenital amaurosis 10 (or LCA10) indication. The company has stopped enrolling patients in the Phase 1/2 trial and plans to commence the pivotal Phase 2/3 trial for this investigational drug in the first half of 2019.
ProQR Therapeutics NV is also expecting interim data from WINGS, the Phase 1/2 study evaluating RNA-based oligonucleotide, QR-313, in the recessive dystrophic epidermolysis bullosa indication due to certain gene mutations in late 2018. Full data from the trial is anticipated in 2019.
As of June 30, ProQR Therapeutics NV had 33 million euros in cash on its balance sheet. The company expects those funds to support its operations until late 2019. In Q2 2018, it reported net cash used for operating activities of 5.4 million euros, which is much lower than 9.8 million euros in cash for Q2 2017.
Analyst recommendations for ProQR Therapeutics NV
The overall analyst sentiment for ProQR Therapeutics NV on September 11 is the same as the previous month. Its 12-month consensus recommendation is a “buy.”
All three analysts covering ProQR Therapeutics NV in September have recommended a “buy” for the stock.
Wall Street analysts have projected a 12-month consensus target price for ProQR Therapeutics NV of $22, which would be an 18% rise over its closing price on September 10.
In the next part, we’ll look at the growth trends for Tricida.