Cautious Hold Rating on Rocket Pharmaceuticals Amid Kresladi Developments and Danon Disease Uncertainty

Needham analyst Gil Blum has maintained their neutral stance on RCKT stock, giving a Hold rating on October 7.

Gil Blum’s rating is based on the recent developments surrounding Rocket Pharmaceuticals’ Kresladi (RP-L201) for LAD-I. The FDA has accepted the BLA resubmission, setting a PDUFA review date for March 2026, which increases the likelihood of approval due to strong previous clinical results. However, despite this positive step, the Hold rating is maintained because there are no immediate value drivers that could significantly impact the company’s financial performance in the short term.
Additionally, there remains uncertainty regarding Rocket’s main clinical program for Danon disease, which adds a layer of risk to the company’s outlook. Although the potential approval of Kresladi could earn Rocket a priority review voucher, which has high market value, the estimated sales for FY 2026 are relatively modest. These factors combined lead to a cautious approach, resulting in a Hold rating.

In another report released on October 7, Leerink Partners also maintained a Hold rating on the stock with a $7.00 price target.