Chardan Capital Reaffirms 'Buy' Rating on ProQR Therapeutics, Maintains $4 Price Target

Chardan Capital maintains a "Buy" rating on ProQR Therapeutics (PRQR) with a price target of $4.00. JMP Securities and Cantor Fitzgerald have also reaffirmed their "Market Outperform" and "Overweight" ratings, respectively. Oppenheimer maintains an "Outperform" rating with a reduced price target of $9.00. Analysts forecast an average target price of $9.20, indicating an upside of 348.81% from the current price.

ProQR Therapeutics (Nasdaq: PRQR) has reported its Q2 2025 financial and operational results, showcasing significant progress in its RNA editing pipeline. The company submitted a Clinical Trial Application (CTA) for AX-0810, its lead program targeting NTCP for cholestatic diseases, with initial Phase 1 data expected in Q4 2025. ProQR's strong financial position, with €119.8 million in cash, provides runway into mid-2027. The company reported a net loss of €22.3 million for H1 2025. Notably, ProQR achieved $2.0 million in milestone payments from its Eli Lilly collaboration, with potential for additional milestone income and expansion options. The company's R&D expenses increased to €23.7 million for H1 2025, contributing to a wider net loss of €22.3 million compared to the prior year period.

Analysts have responded positively to ProQR's Q2 results. Chardan Capital maintains a "Buy" rating with a price target of $4.00. JMP Securities and Cantor Fitzgerald have reaffirmed their "Market Outperform" and "Overweight" ratings, respectively. Oppenheimer maintains an "Outperform" rating with a reduced price target of $9.00. Analysts forecast an average target price of $9.20, indicating an upside of 348.81% from the current price.

ProQR's Q2 2025 results demonstrate significant clinical progress with their proprietary Axiomer RNA editing technology platform. The submission of a Clinical Trial Application (CTA) for lead program AX-0810 targeting NTCP for cholestatic diseases represents a crucial inflection point as the company transitions to a clinical-stage organization. Initial data from this first-in-human study is expected in Q4 2025, providing a near-term catalyst. The company's financial position remains solid with €119.8 million in cash, providing runway into mid-2027. This extended cash runway doesn't include potential milestone payments from their Eli Lilly partnership, which delivered $2.0 million (~ €1.8 million ) in milestone achievements during H1 2025. The partnership contains an option for Lilly to expand to 15 targets, which would trigger a substantial $50 million payment to ProQR.

Beyond AX-0810, ProQR is advancing AX-2402 targeting MECP2 for Rett Syndrome with clinical candidate selection expected in 2025. This program expands their platform into CNS disorders, potentially broadening the applicability of their RNA editing approach. Additional pipeline programs targeting MASH (AX-2911) and cardiovascular disease (AX-1412) further diversify their therapeutic reach.

The upcoming Analyst and Investor Event this fall will provide detailed insights into the AX-0810 Phase 1 trial design and set expectations for the 2025 data readout, serving as another potential catalyst for investor interest.

References:
[1] https://www.stocktitan.net/news/PRQR/pro-qr-announces-second-quarter-2025-operating-and-financial-3dney9j6qc9i.html