Rocket Pharmaceuticals initiated with a Neutral at Goldman Sachs

Goldman Sachs analyst Richard Law initiated coverage of Rocket Pharmaceuticals with a Neutral rating and $39 price target. The company can potentially launch four gene therapies in the next 2-3 years, but their commercial potentials are lower than what consensus has modeled or what the company has stated publicly, the analsyt tells investors in a research note. Besides Kresladi’s FDA action date, the rest of 2024 will be catalyst-lite with less upside opportunity from meaningful data catalysts, the analyst tells investors in a research note.