Fulcrum Therapeutics downgraded to Neutral from Buy at H.C. Wainwright

H.C. Wainwright analyst Andrew Fein downgraded Fulcrum Therapeutics to Neutral from Buy with a price target of $6, down from $20. The FDA response letter on FTX-6058 brings risk of hematological malignancies to the forefront, the analyst tells investors in a research note. The firm expects the stock to continue to trade close to its 52-week low until resolution of the clinical hold. It downgrades the shares pending further clarity on a development pathway forward.