In a report released today, David Lebowitz from Citi maintained a Buy rating on Cytokinetics, with a price target of $84.00.
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David Lebowitz’s rating is based on the promising data presented at the ESC conference regarding Cytokinetics’ drug aficamten. The Phase 3 MAPLE trial results showed that aficamten significantly improved exercise capacity compared to the standard beta blocker metoprolol in treating obstructive hypertrophic cardiomyopathy. This suggests that aficamten could be a best-in-class therapy, potentially shifting the treatment paradigm for this condition.
Additionally, the failure of a competing drug, Camzyos, in a similar trial has increased optimism for aficamten’s potential success in non-obstructive hypertrophic cardiomyopathy trials. These positive data updates are expected to boost Cytokinetics’ stock value significantly in the near term. Despite the current exclusion of MAPLE data from the FDA review, the strength of these results could eventually lead to updates in treatment guidelines, giving Cytokinetics a competitive edge in the market.