BMO Capital analyst Kostas Biliouris maintained a Buy rating on Rocket Pharmaceuticals (RCKT – Research Report) yesterday and set a price target of $30.00.
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Kostas Biliouris has given his Buy rating due to a combination of factors that highlight Rocket Pharmaceuticals’ promising developments. The early clinical data for their PKP2/RP-A601 program shows encouraging efficacy signals, including strong gene expression and functional improvements, which are competitive with other therapies. The designation of the first dose as optimal could potentially shorten the development timeline, enhancing the attractiveness of the stock.
Furthermore, despite a serious adverse event reported, it was likely driven by an immunomodulator, and more patient data is expected to address safety concerns. The company’s focus on optimizing their RP-A601 treatment and the potential for a first-in-class designation add to the positive outlook. Additionally, the high unmet need in targeted indications and the company’s innovative gene therapy pipeline are key drivers of success, making Rocket Pharmaceuticals a compelling investment opportunity.
Based on the recent corporate insider activity of 37 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of RCKT in relation to earlier this year.