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Fly News Breaks for December 9, 2019
Dec 9, 2019 | 07:31 EDT
Oppenheimer analyst Esther Rajavelu raised her price target for Rocket Pharmaceuticals to $42 from $36 after management presented a pipeline update that included preliminary RP-L102 Process-B data demonstrating early engraftment signals and clinical stability in two Fanconi anemia-A patients, positive Phase-1 RP-L201 data from two Leukocyte Adhesion Deficiency-1 patients, and an update that no safety signals were seen in the two Danon disease patients treated with RP-A501. Rajavelu tells investors in a research note that with Rocket's pipeline demonstrating increasing clinical validation, she feels increasingly confident that 2020 could be a pivotal year as Rocket manages a maturing pipeline and multiple potentially registration enabling trials. She reiterates an Outperform rating and increases her assumption on the probability of success for RP-L102 to 87% from 50%.