Analyst Mani Foroohar of Leerink Partners maintained a Buy rating on Rocket Pharmaceuticals (RCKT – Research Report), reducing the price target to $39.00.
Mani Foroohar has given his Buy rating due to a combination of factors that highlight Rocket Pharmaceuticals’ promising pipeline and financial stability. The company has completed enrollment for its pivotal trial in Danon disease, with dosing ongoing and updates anticipated in the first half of 2025. This progress, alongside the completion of enrollment in the Phase 1 low dose cohort for PKP2-arrhythmogenic cardiomyopathy, which targets a significant patient population, underscores the potential for future growth.
Additionally, Rocket Pharmaceuticals is actively addressing regulatory requirements for its other programs, such as the expected BLA submission for Fanconi anemia and ongoing FDA review for leukocyte adhesion deficiency-1. The company’s financial position is bolstered by a recent public offering and anticipated capital from a PRV sale tied to future approvals. These elements collectively suggest a positive outlook, justifying the Buy rating.
RCKT’s price has also changed dramatically for the past six months – from $19.100 to $9.400, which is a -50.79% drop .