J.P. Morgan analyst Tessa Romero has maintained their bullish stance on CYTK stock, giving a Buy rating today.
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Tessa Romero’s rating is based on the promising results from Cytokinetics’ recent presentation at the Heart Failure Society of America Annual Scientific Meeting. The 96-week analysis of the FOREST-HCM extension trial showed that aficamten, a treatment for non-obstructive hypertrophic cardiomyopathy (nHCM), led to significant improvements in patient symptoms and outcomes. These improvements were measured through enhancements in NYHA functional class and KCCQ-CSS scores, along with sustained reductions in cardiac biomarkers such as NT-proBNP and hs-cTnI.
Furthermore, the safety profile of aficamten was reassuring, as any decreases in left ventricular ejection fraction (LVEF) were reversible and occurred only at the highest doses. The trial results suggest a potential role for aficamten in treating nHCM, particularly given the recent failure of a similar drug in a phase 3 trial. These factors, combined with ongoing regulatory reviews and the anticipated results from the phase 3 ACACIA-HCM trial, contribute to Romero’s positive outlook on the stock.
According to TipRanks, Romero is a 4-star analyst with an average return of 14.0% and a 48.39% success rate. Romero covers the Healthcare sector, focusing on stocks such as Cytokinetics, ACADIA Pharmaceuticals, and Upstream Bio, Inc..
In another report released today, Barclays also maintained a Buy rating on the stock with a $71.00 price target.