Fulcrum Therapeutics price target raised to $6 from $2 at BofA

BofA raised the firm’s price target on Fulcrum Therapeutics (FULC) to $6 from $2 and keeps an Underperform rating on the shares, citing primarily a higher likelihood of success for its lead program in sickle cell disease for the firm’s increased target. Based on clinical data presented to-date and key opinion leader feedback on their potential use of pociredir and long-term safety concerns, the firm refreshed its view on the program and adjusted its risk estimates, but BofA believes Fulcrum’s upside is capped with the recent upward stock price move, the analyst tells investors.