JPMorgan analyst Tessa Romero sees the pivotal SEQUOIA-HCM results evaluating Cytokinetics’ (CYTK) aficamten in obstructive hypertrophic cardiomyopathy coming in at least at the firm’s “base case/win scenario” and suggesting a profile of superior safety and at least equivalent efficacy relative to the first-in-class agent, Bristol Myers’ (BMY) Camzyos. The firm is not surprised the shares overshot its outlined range of mid-$40s to mid-$50s on a “best case/bull case,” saying the market is contemplating the potential strategic value for the asset at least in the near term. JPMorgan expects the shares “to work” into 2024 and keeps an Overweight rating on Cytokinetics.
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Read More on CYTK:
- Here’s Why Cytokinetics (NASDAQ:CYTK) Stock Surged Yesterday
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