Needham & Company Starts Rocket Pharmaceuticals (RCKT) at Buy
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Needham & Company analyst Gil Blum initiates coverage on Rocket Pharmaceuticals (NASDAQ: RCKT) with a Buy rating and a price target of $75.00.
The analyst commented, "We initiate coverage of Rocket, a pioneer in the development of both ex vivo lentivirus-based and in vivo adeno-associated (AAV) based therapies, with a BUY rating and a $57 PT. We expect RP-A501, an AAV9-based gene therapy for Danon disease, to be a major value driver, due to the size of the indication and current lack of therapy. Rocket's value is further supported, as we see it, by several lentiviral leads, two of which (RP-L102 and RP-L201) are in pivotal studies. Although these programs are in smaller indications, we expect them to reach the market first. RP-L301 program in PKD targets a larger market but is in an earlier stage of development. Key clinical readouts from all 4 programs are due in 2021."
Shares of Rocket Pharmaceuticals closed at $52.62 yesterday.
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