Analyst Joseph Schwartz of Leerink Partners reiterated a Buy rating on Fulcrum Therapeutics, retaining the price target of $12.00.
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Joseph Schwartz has given his Buy rating due to a combination of factors that highlight the potential of Fulcrum Therapeutics’ drug, pociredir. The recent data from the Phase 1b PIONEER study showed promising results with the 12mg dose, demonstrating significant efficacy across several measures. This positive outcome appears to be underappreciated by the market, presenting an opportunity for investors.
Furthermore, the study’s updated criteria, which now focus on patients with more severe conditions, have shown that a substantial percentage of patients reached clinically significant levels of fetal hemoglobin (HbF). Specifically, 44% of patients achieved HbF levels of 20% or higher, which is associated with reduced disease symptoms. These findings suggest a strong product profile for pociredir, supporting the Buy rating as the drug continues to show potential benefits for patients with unmet medical needs.
In another report released on July 29, Oppenheimer also reiterated a Buy rating on the stock with a $15.00 price target.