UPDATE: Oppenheimer Downgrades Rocket Pharmaceuticals (RCKT) to Perform
(updating comment)
Oppenheimer analyst Kevin DeGeeter downgraded Rocket Pharmaceuticals (NASDAQ: RCKT) from Outperform to Perform.
The analyst comments "While we view yesterday's FA update as supportive of a path toward regulatory approval, in our view, shares already price in both likely approval of FA and potential for positive interim near-term update from Phase I RP-A501 study in treatment on Danon disease. As such, we see an unfavorable upside/downside over the next 6–12 months. Our primary concern at current valuations is limited characterization of market development/patient identification and ambiguity on size of the addressable market for FA and the other LVV programs. As such, we would look to get constructive again on shares of RCKT following: 1) delineation of FA go-to-market strategy; or 2) closer to 2H21 Danon clinical update."
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 $33.27 yesterday.