Wedbush analyst Yun Zhong maintained a Buy rating on Rocket Pharmaceuticals today and set a price target of $16.00.
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Yun Zhong has given his Buy rating due to a combination of factors that highlight Rocket Pharmaceuticals’ promising future. The acceptance of the resubmission for marne cel for treating severe leukocyte adhesion deficiency-I (LAD-I) by the FDA, with a PDUFA date set for March 2026, is a significant milestone. This progress, faster than initially expected, suggests a positive trajectory for the company. The potential approval could also grant Rocket Pharmaceuticals a Priority Review Voucher, valued at over $150 million, which would extend the company’s cash runway and support its focus on AAV gene therapy programs.
Additionally, the compelling efficacy of marne cel, demonstrated in clinical trials, supports the Buy rating. In a pivotal study involving nine pediatric patients with severe LAD-I, the treatment achieved a 100% overall survival rate at 12 months and reduced infection-related complications. This success underscores the potential of marne cel as a transformative treatment option. Furthermore, the anticipated progress in dosing new patients for the RP-A501 program in Danon disease and the initiation of RP-A701 for BAG3-DCM treatment further solidify the company’s growth prospects.
According to TipRanks, Zhong is an analyst with an average return of -10.8% and a 42.31% success rate. Zhong covers the Healthcare sector, focusing on stocks such as MannKind, Protagonist Therapeutics, and Rocket Pharmaceuticals.
In another report released on October 3, Bank of America Securities also maintained a Buy rating on the stock with a $10.00 price target.