Andrew Tsai, an analyst from Jefferies, maintained the Buy rating on Rocket Pharmaceuticals (RCKT – Research Report). The associated price target is $29.00.
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.
Andrew Tsai’s rating is based on the promising Phase I data for Rocket Pharmaceuticals’ RP-A601 gene therapy in treating PKP2-ACM heart disease. The data demonstrated significant efficacy, with robust changes in PKP2 protein expression and improvements in cardiac biomarkers, which are crucial for advancing to a pivotal Phase II trial. The therapy showed a favorable benefit-risk profile, with manageable safety concerns, suggesting a strong potential for future success.
Additionally, Rocket Pharmaceuticals’ gene therapy platform targets multiple high-value opportunities, including Danon disease and various hematologic disorders. The company’s strategic focus on these areas, combined with the potential for US and EU approvals, positions it well for growth. These factors contribute to Tsai’s optimistic outlook and Buy rating for Rocket Pharmaceuticals’ stock.
Tsai covers the Healthcare sector, focusing on stocks such as Annexon Biosciences, Sarepta Therapeutics, and Supernus Pharmaceuticals. According to TipRanks, Tsai has an average return of -0.7% and a 45.90% success rate on recommended stocks.