J.P. Morgan analyst Tessa Romero has maintained their bullish stance on CYTK stock, giving a Buy rating yesterday.
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Tessa Romero’s rating is based on the promising results from the phase 3 MAPLE-HCM trial, which evaluated aficamten as a monotherapy in patients with obstructive hypertrophic cardiomyopathy. The trial successfully met its primary endpoint, demonstrating a significant improvement in peak oxygen uptake compared to the standard beta-blocker treatment. This positive outcome suggests that aficamten could offer a superior treatment option with a favorable safety profile.
Additionally, the trial results may enhance aficamten’s market position relative to existing treatments and potentially influence treatment guidelines. While there are considerations regarding payer acceptance due to the availability of generic beta-blockers, the overall data supports a positive outlook for Cytokinetics. Investors are likely to respond favorably to these developments, especially with the anticipation of further detailed results at an upcoming medical conference.
In another report released yesterday, Morgan Stanley also maintained a Buy rating on the stock with a $65.00 price target.