Rocket Pharmaceuticals initiated at Oppenheimer

Rocket Pharmaceuticals initiated with an Outperform at Oppenheimer. Oppenheimer analyst Esther Rajavelu started Rocket Pharmaceuticals with an Outperform rating and $39 price target. With nearly four assets in the clinic in 2019 targeting a diverse group of rare diseases, Rocket Pharmaceuticals could be entering a phase of rapid developmental milestones, she contends. Specifically, the analyst believes the company’s in vivo AAV asset, RP-A501 for Danon disease should unlock significant value over the next 12 months. In addition, Rajavelu anticipates clinical updates from its lead asset RP-L102 in Phase 2 for Fanconi anemia to be an important catalyst with data likely in late 2019.

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