Fulcrum Therapeutics initiated with an Overweight at JPMorgan

JPMorgan initiated coverage of Fulcrum Therapeutics (FULC) with an Overweight rating and $20 price target The recent Phase 1b data of pociredir in sickle cell disease “de-risks” the program from a mechanistic, clinical, and commercial perspective, the analyst tells investors in a research note. JPMorgan sees the addressable patient population, penetration, and price as all potential upside levers to Fulcrum’s model. It believes the company’s sickle cell disease opportunity is underappreciated at current share levels.