These Analysts Slash Their Forecasts On Rocket Pharmaceuticals

Rocket Pharmaceuticals Inc RCKT announced an update Tuesday related to RP-A501, its investigational gene therapy for Danon disease, a rare X-linked dominant genetic disorder that manifests with the clinical triad of cardiomyopathy (stiff heart muscles), skeletal myopathy (weakness) and intellectual disability.

A patient participating in the Phase 2 pivotal trial of RP-A501 experienced an unexpected Serious Adverse Event (SAE). The patient passed away after an acute systemic infection.

Rocket Pharmaceuticals shares fell 62.8% to close at $2.33 on Tuesday.

These analysts made changes to their price targets on Rocket Pharmaceuticals following the news.

• Jefferies analyst Andrew Tsai downgraded Rocket Pharmaceuticals from Buy to Hold and lowered the price target from $29 to $2.5.
• Chardan Capital analyst Geulah Livshits maintained the stock with a Buy and cut the price target from $46 to $17.

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Considering buying RCKT stock? Here’s what analysts think:

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