In a report released yesterday, Cory Jubinville, PhD from LifeSci Capital maintained a Buy rating on Rocket Pharmaceuticals, with a price target of $9.00.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Cory Jubinville, PhD has given his Buy rating due to a combination of factors that highlight Rocket Pharmaceuticals’ strategic focus and potential for growth. The company has prioritized its pipeline to concentrate on promising AAV gene therapy programs, which include treatments for Danon disease, PKP2-associated arrhythmogenic cardiomyopathy, and BAG3-associated dilated cardiomyopathy. These programs are seen as having significant market potential, with early data from the RP-A601 program showing encouraging results in terms of efficacy and safety.
Additionally, Rocket Pharmaceuticals has taken decisive steps to extend its financial runway by implementing cost-saving measures and a strategic reorganization, which includes a 30% reduction in workforce. Despite challenges, such as the clinical hold on RP-A501 due to a serious adverse event, the company is actively working on resolving these issues and resuming trials. The management’s focus on becoming a cardiology-centered company and the potential for its AAV gene therapy programs to achieve blockbuster status underpin the Buy rating.
In another report released today, Wedbush also reiterated a Buy rating on the stock with a $16.00 price target.
Based on the recent corporate insider activity of 48 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.