Serge Belanger, an analyst from Needham, maintained the Buy rating on Cytokinetics. The associated price target remains the same with $72.00.
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Serge Belanger has given his Buy rating due to a combination of factors highlighted during the recent European Society of Cardiology Congress. The presentations showcased the promising results of Cytokinetics’ drug, aficamten, particularly in the MAPLE-HCM trial where it demonstrated significant efficacy over metoprolol, a standard treatment for hypertrophic cardiomyopathy. The trial results showed that aficamten not only improved exercise capacity but also outperformed metoprolol in several secondary endpoints, including functional class and symptom burden.
Furthermore, the safety profile of aficamten was comparable to that of metoprolol, with a similar rate of serious adverse events and less frequent need for dose reduction. These findings suggest that aficamten could fulfill unmet needs in the hypertrophic cardiomyopathy market, reinforcing its potential as a valuable treatment option. Belanger’s positive outlook is based on the drug’s consistent performance across key measures and its potential to capture a significant share of the market.
In another report released today, Citi also maintained a Buy rating on the stock with a $84.00 price target.