Fulcrum Therapeutics (FULC) PT Raised to $18 at Truist Securities

Truist Securities analyst Greg Renza raised the price target on Fulcrum Therapeutics (NASDAQ: FULC) to $18.00 (from $14.00) while maintaining a Buy rating.

The analyst commented: "Positive Reception Permeates Around Pociredir, Deserving of Greater Valuation Credit Post Cohort 4; Positive reception is persisting around the cohort 4 data from the ph.Ib PIONEER study for pociredir in SCD which came in as a win for FULC, with robust efficacy shown in the way of the abs. HbF bar of 20% being hit in ~58% of patients, showing a clear dose-response over Cohort 3b's ~44% of patients. A rapid treatment delta, and supportive safety profile serve as additional support. We remain encouraged by the developmental, regulatory, and competitive prospects of pociredir, and believe this milestone justifies the greater enthusiasm and confidence towards the program's potential. We increase our PT to $18 (from $14) and reiterate our Buy rating on FULC shares."

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