Analyst Michael Ulz from Morgan Stanley maintained a Buy rating on Rocket Pharmaceuticals (RCKT – Research Report) and keeping the price target at $42.00.
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Michael Ulz has given his Buy rating due to a combination of factors that highlight Rocket Pharmaceuticals’ promising future prospects. One significant factor is the company’s progress in its AAV franchise, particularly the RP-A501 program for Danon disease, which is seen as a key value driver. Although there is a slight delay in the program update to mid-2025, the anticipated pivotal Phase 2 data by mid-2026 provides a clear timeline for potential breakthroughs.
Additionally, Rocket Pharmaceuticals is advancing its LV franchise with the rolling BLA for RP-L102 in Fanconi anemia, expected to complete by late 2025 or early 2026. The company’s strategic focus on these programs, along with its solid cash position of $318 million, which is projected to support operations into the fourth quarter of 2026, underscores the potential for significant growth and development, justifying the Buy rating.
Ulz covers the Healthcare sector, focusing on stocks such as Alnylam Pharma, Sarepta Therapeutics, and Viking Therapeutics. According to TipRanks, Ulz has an average return of -5.0% and a 36.64% success rate on recommended stocks.
In another report released today, Needham also maintained a Buy rating on the stock with a $42.00 price target.