Canaccord Genuity analysts revised their price target for Rocket Pharmaceuticals (NASDAQ:RCKT) down to $40 from $49, while maintaining a Buy rating on the stock. The analysts expressed increased confidence in the success of the Phase 3 trial for DESCARTES-08, leading to a 50% assumed success rate. The price target adjustment also accounts for the additional shares from the $130 million PIPE financing.
The analysts anticipate further trial design refinements in Phase 3, such as excluding seronegative and LRP4+ patients from the primary efficacy analysis, which is expected to enhance the trial’s likelihood of success.
At CWEB, we are always looking to expand our network of strategic investors and partners. If you're interested in exploring investment opportunities or discussing potential partnerships and serious inquiries. Contact: jacque@cweb.com