J.P. Morgan analyst Anupam Rama has maintained their bullish stance on FULC stock, giving a Buy rating on February 2.
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Anupam Rama has given his Buy rating due to a combination of factors tied to the emerging profile of pociredir in sickle cell disease and the upcoming 1Q26 data update. Feedback from the recent expert call supports his confidence that the 20 mg dose is already demonstrating a meaningful step-up over 12 mg on key biomarkers such as fetal hemoglobin, F‑cells, and LDH, while maintaining a favorable safety profile.
Rama views a data “win” in 1Q26—showing fetal hemoglobin approaching the company’s targeted range, continued improvement across hemolysis and vaso‑occlusive endpoints, and clean tolerability—as likely to justify FULC trading closer to a mid‑teens, probability‑adjusted valuation per share. He also sees downside risk as relatively limited given prior de‑risking from ASH 2025 results, which, combined with the long‑term opportunity for pociredir in sickle cell disease, underpins his Overweight stance on the stock.
In another report released on February 2, Truist Financial also reiterated a Buy rating on the stock with a $18.00 price target.