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Promising Trial Results and Safety Profile of Aficamten Boost Cytokinetics’ Stock Outlook

Promising Trial Results and Safety Profile of Aficamten Boost Cytokinetics’ Stock Outlook

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.

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