Shares of Rocket Pharmaceuticals (RCKT) jumped 5.5% intraday Wednesday as Jefferies initiated coverage of the biotech company with a "buy" rating on optimism about the experimental drugs in its pipeline. Jefferies also set a price target of $29, more than double its current value.
On Monday, Rocket Pharmaceuticals, Inc. RCKT presented long-term safety and efficacy results from the Phase 1 study of RP-A501 in male patients with Danon disease.
RCKT incurs narrower-than-expected third-quarter 2024 loss. The company provides updates on its pipeline candidates.
Scotiabank raised the firm's price target on Rocket Pharmaceuticals to $51 from $50 and keeps an Outperform rating on the shares. The company provided "a slew of positive updates," which included an announcement of updated phase 1 data for RP-A501, the analyst tells investors. Rocket continues to have positive momentum with the potential to have multiple marketed products within the next 12 months, the firm adds.
Enrollment completed for pivotal single-arm phase 2 study, using RP-A501 for the treatment of male patients with Danon disease. Promise for RP-A501 program lies with the potential to receive FDA Accelerated Approval for the treatment of male patients with Danon disease. The Danon disease treatment market is expected to reach $2.82 billion by 2030.
Rocket completes enrollment of patients in a pivotal phase II study evaluating RP-A501 for treating male patients with Danon disease.
The recent regulatory setbacks related to RCKT's pipeline candidate, Kresladi (marnetegragene autotemcel) weigh heavily on the stock.
Per the FDA, Rocket (RCKT) needs to submit additional manufacturing information on Kresladi gene therapy to secure approval for severe leukocyte adhesion deficiency-I (LAD-I), a rare genetic disorder.
Rocket Pharmaceuticals (RCKT) shares declined in intraday trading Friday after the biopharmaceutical firm announced that the Food and Drug Administration (FDA) wants more data about its gene therapy to treat a rare immune disorder in children before granting approval.
Rocket Pharmaceuticals (RCKT) reported earnings 30 days ago. What's next for the stock?