Fulcrum Therapeutics price target raised to $15 from $12 at Oppenheimer

Oppenheimer raised the firm’s price target on Fulcrum Therapeutics (FULC) to $15 from $12 and keeps an Outperform rating on the shares after the company read out 12-week results from the 12 mg cohort of its sickle cell drug pociredir. Alongside improvements in red cell health and VOC reductions, Oppenheimer thinks these data suggest pociredir may be the first drug since hydroxyurea to address all the consequences of SCD. With nearly half of patients achieving greater than20% total HbF, the firm thinks this is already a drug that will benefit the majority.