Leerink Partners analyst Joseph Schwartz has reiterated their neutral stance on FULC stock, giving a Hold rating on May 2.
Joseph Schwartz has given his Hold rating due to a combination of factors related to Fulcrum Therapeutics’ recent developments and future prospects. The company has made progress in its Phase 1b PIONEER study for sickle cell disease, completing enrollment in the 12 mg cohort and starting the 20 mg cohort. This progress is encouraging, but the market is still awaiting clinical data from these studies, which is expected later in the year.
Additionally, while enrollment has improved, with more patients being enrolled from both the US and South Africa, there are still uncertainties regarding the outcomes of these trials. The withdrawal of a competing treatment, Oxbryta, has potentially aided enrollment, but the impact on the study’s results remains to be seen. Furthermore, Fulcrum is advancing its preclinical programs for other inherited anemias, but these are still in early stages. These factors contribute to a cautious outlook, leading to a Hold rating as investors await more definitive data and progress.
Schwartz covers the Healthcare sector, focusing on stocks such as Travere Therapeutics, Ascendis Pharma, and Avidity Biosciences. According to TipRanks, Schwartz has an average return of 14.4% and a 42.74% success rate on recommended stocks.
In another report released on May 2, H.C. Wainwright also maintained a Hold rating on the stock with a $4.00 price target.