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Investing.com - Cantor Fitzgerald maintained its Overweight rating and $10.00 price target on Fulcrum Therapeutics (NASDAQ:FULC) stock Wednesday, citing potential upside for the company’s sickle cell disease treatment. The stock, currently trading at $6.36, has shown strong momentum with a 46% gain over the past six months, according to InvestingPro data.
The research firm noted that Fulcrum has generated significant investor interest, particularly regarding its upcoming clinical data readout for pociredir, which works by inducing fetal hemoglobin production to potentially reduce vaso-occlusive crises in sickle cell patients. With a market capitalization of $343 million and a strong financial health score rated as "GREAT" by InvestingPro, the company appears well-positioned for its clinical developments.
Cantor Fitzgerald believes the stock has "more value to unlock" even when considering only the most conservative eligible patient population for the treatment. This aligns with InvestingPro’s Fair Value analysis, which suggests the stock is currently undervalued, though investors should note its high volatility with a beta of 2.42.
Key questions surrounding Fulcrum include what risk/benefit profile will drive physician adoption of pociredir and how the FDA might interpret clinical data to potentially expand the eligible patient population.
The firm suggested that positive clinical results exceeding expectations could "open the door to broader market potential" for the treatment, potentially driving further upside beyond current estimates.
In other recent news, Fulcrum Therapeutics reported a net loss of $17.7 million for Q1 2025, an improvement from the $26.9 million loss in Q1 2024. The company saw a decrease in Research and Development expenses, which fell to $13.4 million from $19.8 million the previous year, and General and Administrative expenses also decreased to $7.0 million from $10.1 million. These financial results came as Fulcrum continues to advance its lead program for sickle cell disease, with enrollment completed in the 12mg cohort of the PIONEER trial. In a separate development, Leerink Partners upgraded Fulcrum Therapeutics’ stock to Outperform, citing promising results from its sickle cell disease drug candidate, pociredir, and increased its gross peak sales estimates to $600 million. Leerink’s analysts are optimistic about Fulcrum’s potential in the sickle cell disease market, particularly following the withdrawal of Pfizer (NYSE:PFE)’s Oxbryta and the slow uptake of gene therapy alternatives. The company’s cash reserves are expected to support operations into at least 2027, providing a stable financial outlook. Fulcrum plans to report data from its 12mg cohort in early Q3 2025 and aims to initiate a 20mg cohort later this year.
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