William Blair analyst Sami Corwin has maintained their bullish stance on RCKT stock, giving a Buy rating today.
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Sami Corwin’s rating is based on a combination of factors that highlight both the challenges and potential of Rocket Pharmaceuticals. Despite the recent clinical hold on the Phase II trial for Danon disease due to a serious adverse event, the company is actively collaborating with the FDA and the Independent Data Safety Monitoring Committee to understand the root cause of the issue and adjust their protocols accordingly. This proactive approach demonstrates the company’s commitment to addressing safety concerns and resuming the trial with improved safety measures.
Moreover, Rocket Pharmaceuticals has shown resilience in managing previous trial complications, such as thrombotic microangiopathy, by implementing revised protocols to mitigate risks. The company’s ability to adapt and refine its clinical strategies, along with its ongoing communication with regulatory bodies, suggests a strong potential for future success. These efforts, combined with the promising aspects of their pipeline, underpin Sami Corwin’s Buy rating for the stock.
In another report released today, Bank of America Securities also maintained a Buy rating on the stock with a $32.00 price target.
Based on the recent corporate insider activity of 39 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.