Fulcrum Therapeutics upgraded to Neutral at BofA on FSHD study success chance

As previously reported, BofA upgraded Fulcrum Therapeutics to Neutral from Underperform with a price target of $10, up from $5, ahead of the company’s Phase 3 losmapimod readout in facioscapulohumeraal muscular dystrophy, or FSHD, that is expected by the end of October. Although a previous pivotal study had failed using a different endpoint, the company did a post-hoc analysis and re-designed a new study with a new endpoint and after taking a closer look and speaking with two key opinion leaders, the firm now moves its view to 50% odds of success for the study, the analyst tells investors.