H.C. Wainwright analyst Andrew Fein has reiterated their bullish stance on FULC stock, giving a Buy rating on November 19.
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Andrew Fein has given his Buy rating due to a combination of factors that highlight the potential of Fulcrum Therapeutics’ pociredir. The emerging data from the PIONEER study underscores the strength of targeting HbF biology, with early signals indicating significant reductions in VOC and SCPC. This is particularly important as competitor data, such as from mitapivat, show limitations in improving SCPC rates and patient-reported outcomes, which are crucial for regulatory approval and commercial success.
Furthermore, pociredir’s 12 mg cohort has shown promising results, with nearly half of the patients experiencing zero SCPCs during treatment. The expectations for the 20 mg cohort are even higher, supported by dose-ranging work and healthy volunteer data that demonstrate a clear step up in HBG mRNA and consistent HbF induction. This differentiated mechanism and translational consistency suggest a strong potential for greater market share, leading to an increased price target from $12 to $18.
In another report released on November 19, Leerink Partners also reiterated a Buy rating on the stock with a $20.00 price target.