Fulcrum Therapeutics shares soaring for second straight day
11/08/2021 16:02
** Shares in Fulcrum Therapeutics FULC.O up 13.3% at $21.27 on
Weds after closing up 125% in previous session following
positive drug study data, and analysts brighten outlooks
** FULC hits record high of $25.25 on Weds with trading
volume exceeding 3x 10-DMA
** Shares soared Tues after it said experimental drug,
FTX-6058, showed positive interim results in an early-stage
trial testing it in patients with a genetic disorder of the red
blood cells, sickle cell disease (SCD) urn:newsml:reuters.com:*:nL4N2PH2SK
** After the bell Tues, co launched $100 million equity
offering urn:newsml:reuters.com:*:nGNX3Xqsvb
** Reacting to the data news, Credit Suisse raises PT to $30
from $20 while Morgan Stanley raises its PT to $34 from $12 and
upgrades stock to 'overweight' from 'equal-weight' urn:newsml:reuters.com:*:nFWN2PI1EJ
** Median PT for Fulcrum is $21, according to Refinitiv;
now, 6 analysts recommend buying the stock, while 1 rates it
'sell'
(Reporting By Sinéad Carew)
((sinead.carew@thomsonreuters.com; +1 (646) 223 6186; Reuters
Messaging: sinead.carew.thomsonreuters.com@reuters.net))