Fulcrum Therapeutics initiated with a Buy at Goldman Sachs

Goldman Sachs analyst Madhu Kumar initiated coverage of Fulcrum Therapeutics with a Buy rating and $11 price target. The company has two clinical-stage assets, losmapimod in facioscapulohumeral muscular dystrophy, currently in the pivotal Phase 3 REACH trial, and FTX-6058 in sickle cell disease, currently in an ongoing Phase 1b study, Kumar tells investors in a research note. The analyst sees "optionality for value to be unlocked" from either program and believes each pipeline program "has the potential to provide meaningful long-term upside" for the shares.