Needham lowered the firm’s price target on Rocket Pharmaceuticals to $53 from $60 but keeps a Buy rating on the shares. The analyst states that the FDA alignment on Phase 2 RP-A401 trial design yields an eventual outline that is “all that Rocket Pharmaceutical could have hoped for” as the agreement on enrollment of pediatric patients increases the chance of success given this is the most affected population. The firm’s price target cut reflects the company’s $150M common stock offering announcement, however, Needham added.
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Read More on RCKT:
- Rocket (NASDAQ: RCKT) Rockets Ahead with FDA Alignment on Danon Disease Trial
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- Rocket Pharmaceuticals announces $150M common stock offering
- Rocket Pharmaceuticals reaches FDA alignment on Phase 2 RP-A401 trial design
- Rocket Pharmaceuticals price target lowered to $47 from $49 at Canaccord
