Rocket Pharmaceuticals downgraded to Market Perform from Outperform at Leerink
Leerink downgraded Rocket Pharmaceuticals (RCKT) to Market Perform from Outperform with a price target of $8, down from $37, after the company said a Danon disease patient participating in the Phase 2 pivotal trial of RP-A501 experienced an unexpected serious adverse event related to a capillary leak syndrome. Today's update raises three key concerns that will weigh on shares until they can collectively be resolved – addressing the safety uncertainty, re-establishing investor confidence, and alleviating the balance sheet overhang, the analyst tells investors in a research note. While Rocket is in active dialogue with the FDA, the company could not provide anticipated timelines for future discussions/resolution of clinical hold as of yet, the firm added.
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These and other risks and uncertainties are more fully described in our periodic filings with the Securities and Exchange Commission (SEC), including the risk factors described in the section entitled 'Risk Factors' in the quarterly and annual reports that we file with the SEC. Any forward-looking statements that we make in this press release speak only as of the date of this press release. Except as required by law, we assume no obligation to update forward-looking statements contained in this press release whether as a result of new information, future events, or otherwise, after the date of this press release. Contact:Tiffany HamiltonAVP, Head of Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Insider
3 days ago
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Rocket Pharmaceuticals (RCKT) was downgraded to a Hold Rating at Evercore ISI
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