Analyst Joseph Schwartz of Leerink Partners reiterated a Buy rating on Fulcrum Therapeutics, retaining the price target of $20.00.
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Joseph Schwartz has given his Buy rating due to a combination of factors that highlight Fulcrum Therapeutics’ potential in the sickle cell disease (SCD) treatment landscape. The recent Phase 3 RISE UP trial results for Agios Pharmaceuticals’ mitapivat, while showing some positive trends, did not achieve statistical significance in reducing sickle cell pain crises. This outcome positions Fulcrum’s pociredir program as a promising alternative, particularly given its distinct mechanism of action and ongoing dose exploration.
In terms of hemoglobin endpoints, pociredir has demonstrated stronger efficacy compared to mitapivat. In the 12mg cohort, Fulcrum reported a higher percentage of patients achieving significant hemoglobin increases, with a statistically significant difference. Additionally, pociredir showed a greater mean improvement in hemoglobin concentration, despite being tested in a more severely affected patient group. These results suggest that pociredir may offer a differentiated efficacy profile, supporting Schwartz’s positive outlook on Fulcrum Therapeutics’ stock.
In another report released on November 6, Stifel Nicolaus also initiated coverage with a Buy rating on the stock with a $20.00 price target.