Rocket Pharmaceuticals (RCKT) PT Lowered to $5 at UBS

UBS analyst Ashwani Verma lowered the price target on Rocket Pharmaceuticals (NASDAQ: RCKT) to $5.00 (from $12.00) while maintaining a Buy rating.

The analyst commented, "From current valuation, we believe the stock can outperform heading into potential 2H25 PKP2 read-out. While the stock has sold off on the recent Danon update, we believe there is meaningful fundamental upside potential given, 1) PKP2 & other platform programs are intact, and 2) C&CE of $3.2/shr + cash from potential sale of Priority Review Vouchers (~$300-450M). We lower our price target to $5 (from $12), but maintain our Buy rating as we see upside potential. We are optimistic on 2H25est PKP2 read-out, but cautiously optimistic on possible recovery of the Danon program as RCKT seems to have isolated the root cause for patient death."

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