Analyst Maxwell Skor of Morgan Stanley maintained a Buy rating on Cytokinetics, retaining the price target of $65.00.
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Maxwell Skor has given his Buy rating due to a combination of factors surrounding Cytokinetics’ strategic positioning and readiness for the launch of aficamten. The company’s management is well-prepared for the upcoming launch, with cardiology account specialists set to engage a significant portion of the HCM prescribing base shortly after the anticipated approval date. This proactive approach is expected to facilitate a smooth market entry and broad adoption of aficamten.
Another critical factor in Skor’s rating is the potential for a differentiated label and risk mitigation profile for aficamten, which could enhance its competitive edge. The management’s focus on integrating a streamlined REMS program and leveraging MAPLE data is aimed at expanding the drug’s reach beyond the current prescriber base. Additionally, the company’s comprehensive launch preparations, including patient support services and a trained sales force, further underscore the potential for successful commercialization, making Cytokinetics an attractive investment opportunity.
Skor covers the Healthcare sector, focusing on stocks such as Insmed, Pharvaris, and Cytokinetics. According to TipRanks, Skor has an average return of 18.2% and a 66.13% success rate on recommended stocks.
In another report released today, Needham also maintained a Buy rating on the stock with a $72.00 price target.