Rocket Pharmaceuticals weakness a buying opportunity, says UBS

UBS analyst Colin Bristow tells investors in a research note that Rocket Pharmaceuticals, based on the FDA’s feedback from the end-of-Phase 1 meeting for RP-A501 in Danon Disease, plans to proceed with a single-arm open-label pivotal study, and views the update as a meaningful incremental positive. The analyst, who made no change to the firm’s Buy rating or $160 price target, says the lack of specifics is a function of the fact that the protocol must still be submitted and approved, and sees today’s weakness as an attractive buying opportunity.