Rocket Pharmaceuticals price target lowered to $11 from $34 at Canaccord

Canaccord analyst Whitney Ijem lowered the firm’s price target on Rocket Pharmaceuticals (RCKT) to $11 from $34 and keeps a Buy rating on the shares. The firm noted last week’s announcement of a clinical hold on lead program RP-A501 for Danon Disease following AEs (adverse event), a protocol adjustment, new AEs and ultimately a patient death. This is a clear setback from a timing and sentiment perspective.