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Investing.com - H.C. Wainwright upgraded Fulcrum Therapeutics (NASDAQ:FULC) from Neutral to Buy on Tuesday, while significantly raising its price target to $12.00 from $4.00. The stock, currently trading at $7.54 with a market cap of $406 million, has shown strong momentum with a 91% surge over the past six months, according to InvestingPro data.
The upgrade follows new data from Fulcrum’s PIONEER Phase 1b trial for pociredir in sickle cell disease (SCD), which showed meaningful increases in fetal hemoglobin (HbF) along with improvements in key hematologic and hemolytic parameters.
H.C. Wainwright views these results as validation of pociredir’s ability to mimic the protective biology observed in hereditary persistence of fetal hemoglobin (HPFH), a condition where patients experience fewer vaso-occlusive complications despite having the same β-globin mutation.
The research firm highlighted pociredir’s oral delivery method and safety profile as potential advantages over gene editing-based treatments, which face access and logistical challenges despite their curative potential.
H.C. Wainwright believes the latest data significantly reduces risk for the program ahead of 20mg dosing data expected later in 2025. Investors should note that Fulcrum’s next earnings report is scheduled for August 6, 2025. For deeper insights into FULC’s valuation and growth prospects, access the comprehensive Pro Research Report available on InvestingPro.
In other recent news, Fulcrum Therapeutics has announced results from its Phase 1b PIONEER trial evaluating pociredir for sickle cell disease, revealing promising data. The trial involved a 12 mg dose cohort with 16 patients who completed a 12-week treatment period. Results showed an absolute mean fetal hemoglobin induction of 8.6% from baseline, with 7 out of 16 patients achieving fetal hemoglobin levels greater than 20%. Fulcrum highlighted that achieving these levels is significant, as they are associated with a reduction in vaso-occlusive crises. Despite these positive outcomes, Fulcrum’s stock experienced a decline following the announcement. The company plans to present the topline results in a webcast featuring Fulcrum management and notable experts in the field. This presentation is set to provide further insights into the trial findings. The developments reflect Fulcrum’s ongoing efforts to advance treatments for sickle cell disease.
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