Yun Zhong, an analyst from Wedbush, maintained the Buy rating on Rocket Pharmaceuticals (RCKT – Research Report). The associated price target remains the same with $32.00.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Yun Zhong’s rating is based on promising clinical data from Rocket Pharmaceuticals’ RP-A601 study, which demonstrated significant improvements in patients with PKP2-ACM. The Phase 1 trial showed robust expression of the target protein and associated components, suggesting effective restoration of myocardial integrity and reduction in arrhythmia burden. These results, along with stabilization or improvement in right ventricular function and patient quality of life, support the potential for RP-A601 to advance to a pivotal study.
Additionally, the company has expressed confidence in the safety and efficacy of the current dosing regimen, which aligns with previous successful trials for a similar treatment. The possibility of an accelerated approval pathway with the FDA further strengthens the investment case. Overall, the comprehensive dataset and positive clinical outcomes provide a strong foundation for Rocket Pharmaceuticals’ future prospects, justifying the Buy rating.
In another report released today, Scotiabank also maintained a Buy rating on the stock with a $51.00 price target.