Piper Sandler analyst Edward Tenthoff raised the firm’s price target on Fulcrum Therapeutics (FULC) to $9 from $6 ahead of upcoming PIONEER data, while keeping an Overweight rating on the shares. The firm notes Fulcrum expects to report Phase Ib PIONEER data from the 12mg pociredir cohort in early Q3 2025. Prior Phase Ib data showed 12mg pociredir achieved HbF protein increases of up to 10% from baseline to a total HbF level of 25%, which could represent a clinically transformative benefit. Pociredir was well tolerated with no drug-related SAEs or discontinuations due to TEAEs.
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