Leerink Partners Upgrades Fulcrum Therapeutics, Inc. (FULC) to Outperform, Raises Price Target

Leerink Partners on Friday upgraded Fulcrum Therapeutics, Inc. (NASDAQ:FULC) to Outperform from Market Perform, and raised the stock’s price target to $12 per share from $4.

The analyst cited a favorable risk-reward setup as the reason behind the upgrade, ahead of the trial readout for Pociredir, its lead clinical program, to treat sickle cell disease.

Leerink Partners upgrades Fulcrum Therapeutics, Inc. (FULC) to Outperform, raises price target to $12

A scientist in a lab coat inspecting a vial of medication in an experimental biopharmaceutical laboratory.

On May 1, Fulcrum Therapeutics, Inc. (NASDAQ:FULC) provided business updates and reported results for the first quarter of fiscal 2025. The company said it was pleased by the momentum of the program and the level of engagement observed during the trial. It plans on sharing data from the 12 mg dose cohort early during the third quarter of 2025.

Here is what Leerink analyst J. Schwartz wrote on the upgrade:

“We are intrigued by the results so far, think the HbF increase is likely to improve with longer/higher dosing. We believe the stock has more room to run, especially with growing scarcity value in the SCD space.”

Fulcrum Therapeutics, Inc. (NASDAQ:FULC) is a clinical-stage biopharmaceutical company that develops small molecules for patients with rare, genetic diseases. The stock closed 5.23% higher at $6.44 per share on Friday after the Leerink upgrade.

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Disclosure: None.