In a report released today, Yun Zhong from Wedbush maintained a Buy rating on Rocket Pharmaceuticals (RCKT – Research Report), with a price target of $16.00.
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Yun Zhong’s rating is based on several factors that contribute to a positive outlook for Rocket Pharmaceuticals. Despite recent concerns regarding the use of the AAVrh74 capsid in gene therapy, which was associated with acute liver failure in non-ambulatory patients treated by Sarepta Therapeutics, Yun Zhong remains optimistic about Rocket’s RP-A601 program. This optimism is due to the low incidence of such adverse events and the lack of identified risk factors, suggesting that the capsid itself may not be the primary issue.
Furthermore, Rocket Pharmaceuticals has already incorporated sirolimus into their immunosuppression regimen, which is believed to mitigate risks by inhibiting T cell activation. The company’s previous studies have shown promising results, with robust protein expression and correct colocalization, supporting the decision to proceed with the current dosing strategy. Additionally, there is historical precedence for clinical holds being lifted after addressing safety concerns, which could bode well for Rocket’s RP-A501 program. These factors combined lead Yun Zhong to maintain a Buy rating for Rocket Pharmaceuticals.
According to TipRanks, Zhong is an analyst with an average return of -18.9% and a 34.31% success rate. Zhong covers the Healthcare sector, focusing on stocks such as MannKind, Rocket Pharmaceuticals, and Ascendis Pharma.
In another report released on June 3, Canaccord Genuity also maintained a Buy rating on the stock with a $11.00 price target.