Morgan Stanley Downgrades Rocket Pharmaceuticals (RCKT) to Equalweight

Morgan Stanley analyst Michael E Ulz downgraded Rocket Pharmaceuticals (NASDAQ: RCKT) from Overweight to Equalweight with a price target of $7.00 (from $42.00).

The analyst comments: "Given near-term uncertainty for the lead Danon program, we downgrade to Equal-weight and lower our price target. Specifically, we have conservatively pushed out the launch of RP-A501 in Danon disease by one year (2028 from 2027 previously) and reduced our probability of success to 30% from 80% previously, which we believe captures the uncertainties surrounding the timing and nature of the path forward for the program. As a result, our price target decreases to $7 from $42 previously. Of note, the company ended 1Q25 with $318.2M in cash (~$3/share), which is expected to support operations into 2027 (slight change from into 4Q26 previously)."

For an analyst ratings summary and ratings history on Rocket Pharmaceuticals click here. For more ratings news on Rocket Pharmaceuticals click here.

Shares of Rocket Pharmaceuticals closed at $2.33 yesterday.

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