Fulcrum Therapeutics price target raised to $21 from $18 at Piper Sandler

Piper Sandler analyst Edward Tenthoff raised the firm’s price target on Fulcrum Therapeutics to $21 from $18 and keeps an Overweight rating on the shares. The company reported updated Phase Ib data on 2mg FTX-6058 and 6mg FTX-6058 showing dose-dependent HBG mRNA and HbF protein increases of up to 9.5%, as well as improved biomarkers of hemolysis and anemia in sickle cell disease patients, the analyst tells investors in a research note. The increased price target reflects higher pipeline value and factoring in the financing, Piper notes.