Leerink Partners analyst Mani Foroohar has maintained their bullish stance on RCKT stock, giving a Buy rating on May 16.
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Mani Foroohar’s rating is based on the promising initial data from Rocket Pharmaceuticals’ Phase 1 trial for RP-A601 in treating plakophilin-2-related arrhythmogenic cardiomyopathy. The trial showed significant improvements in PKP2 protein expression and heart function among patients with low baseline PKP2 levels. These early signs of efficacy, such as enhanced heart function and quality of life, support the potential of RP-A601 as a viable treatment option.
Despite some adverse events, the safety profile appears manageable, with most issues resolving quickly. The decision to move forward with the current dose into a pivotal trial is seen as prudent, especially given the dose-dependent adverse events observed in similar therapies. The company’s strategic focus on upcoming updates, such as the Danon update, further strengthens the investment thesis, making the stock a compelling buy.
According to TipRanks, Foroohar is an analyst with an average return of -13.5% and a 38.08% success rate. Foroohar covers the Healthcare sector, focusing on stocks such as Alnylam Pharma, RegenXBio, and Tenaya Therapeutics.
In another report released on May 16, Scotiabank also maintained a Buy rating on the stock with a $51.00 price target.