Leerink Partners analyst Joseph Schwartz reiterated a Buy rating on Fulcrum Therapeutics (FULC – Research Report) on November 7 and set a price target of $8.00.
Joseph Schwartz delivered a Buy rating for Fulcrum Therapeutics, primarily driven by the company’s advancements in its two clinical programs. FULC is making promising progress with losmapimod, a treatment for facioscapulohumeral muscular dystrophy (FSHD), and pociredir, a drug for sickle cell disease (SCD). Schwartz is encouraged by the expected topline data for losmapimod due in 4Q24, and anticipates that the company will seek regulatory approval in 2025, with potential approval projected for 2026. Furthermore, FULC’s intent to commercialize losmapimod independently in the US and find international partners lends further credibility to the company’s growth prospects.
Regarding the pociredir program, Schwartz takes a favorable view of FULC’s efforts to re-establish clinical sites, and expand the number of US sites and international sites to achieve their enrollment targets with an updated protocol and stricter inclusion/exclusion criteria. Despite some challenges, FULC remains optimistic about showing fetal hemoglobin (HbF) induction in the high 20% range, which they believe could justify expanding the patient population. Schwartz also acknowledges the potential risks of high-risk treatments but believes the significant treatment benefits outweigh these risks, leading to broader inclusion criteria in these studies. In conclusion, Schwartz maintains his Buy rating, buoyed by FULC’s continued progress and the anticipation of further data readouts throughout 2024.
In another report released on November 8, H.C. Wainwright also reiterated a Buy rating on the stock with a $14.00 price target.
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Fulcrum Therapeutics (FULC) Company Description:
Fulcrum Therapeutics, Inc. is a clinical-stage biopharmaceutical company. It develops new medicines and focuses on unlocking gene control mechanisms to develop small molecule therapies. Its product candidate includes Losmapimod and FTX-HbF. The company was founded by Michael R. Green, Danny Reinberg, Rudolf Jaenisch, Jeannie T. Lee, and Bradley E. Bernstein on August 18, 2015 and is headquartered in Cambridge, MA.
Read More on FULC:
- Fulcrum Therapeutics Announces Recent Business Highlights and Financial Results for Third Quarter 2023
- Fulcrum Therapeutics reports Q3 EPS (39c), consensus (43c)
- Spero Therapeutics appoints Rajavelu as CFO, CBO
- Fulcrum Therapeutics to Host Third Quarter 2023 Financial Results Conference Call and Webcast on Tuesday, November 7, 2023, at 8:00 a.m. ET
- Fulcrum Therapeutics management to meet with Oppenheimer
