Leerink analyst Joseph Schwartz upgraded Fulcrum Therapeutics (FULC) to Outperform from Market Perform with a price target of $12, up from $4, ahead of the 12mg sickle-cell disease data. The firm is intrigued by the results so far, thinks the HbF increase is likely to improve with longer/higher dosing, and believes the stock has more room to run, especially with growing scarcity value in the SCD space. Leerink sees a positively skewed risk/reward heading into the data, with an up/down of +100%/-40%.
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