Analyst Cory Jubinville, PhD from LifeSci Capital maintained a Buy rating on Rocket Pharmaceuticals and keeping the price target at $9.00.
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Cory Jubinville, PhD has given his Buy rating due to a combination of factors surrounding Rocket Pharmaceuticals’ recent developments. The lifting of the FDA’s clinical hold on the pivotal Phase 2 study of RP-A501 for Danon disease is a significant milestone. This decision came after Rocket Pharma proposed an updated protocol, which includes recalibrating the dose to 3.8E13 GC/kg and implementing a minimum four-week interval between treatments for the first three patients. Additionally, the discontinuation of the prophylactic C3 inhibitor and the adoption of a lower threshold for administering the C5 inhibitor eculizumab further enhance the study’s safety profile.
Furthermore, the relatively swift resolution of the clinical hold reflects the program’s accumulated clinical data and the FDA’s support for addressing severe unmet needs in rare diseases. The 3.8E13 GC/kg dose, although appearing new, has been previously administered in the Phase 1 pediatric cohort, demonstrating its feasibility. These developments are viewed as critical steps in advancing the RP-A501 study, reinforcing the potential for Rocket Pharmaceuticals to address the significant unmet needs of Danon disease patients, thereby justifying the Buy rating.
In another report released today, Chardan Capital also maintained a Buy rating on the stock with a $12.00 price target.
Based on the recent corporate insider activity of 47 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of RCKT in relation to earlier this year.