Rocket Pharmaceuticals' (RCKT) continued pipeline development together with its in-house manufacturing capacity are expected to support "strong" long-term growth potential for the company, Wedbush analysts said in a Monday note.

Analysts, including Yun Zhong, said that 2025 will be a key year for the company, with several clinical and regulatory events that could drive momentum, especially as shares are currently near a 52-week low.

A phase 2 study of the company's lead RP-A501 program for Danon disease is progressing quietly following patient enrollment. Danon disease affects about 17,000 patients in the US and EU, with no current treatments available. Phase 1 data for RP-A501 showed "strong target" protein expression in heart cells, restoration of a disrupted biological pathway, durable cardiac structural correction, and improved heart function-typically worsening in untreated patients. The US Food and Drug Administration's agreement on an open-label phase 2 study for accelerated approval reflects its recognition of RP-A501's efficacy, the analysts said.

"We believe success in Danon disease and PKP2-ACM programs will support Rocket's continued efforts in building a cardiac-focused Adeno-Associated Virus gene therapy portfolio...we believe Rocket's technology platform, when combined with strong regulatory support, should lead to both clinical and commercial success," the analysts added.

Wedbush initiated Rocket Pharmaceuticals with an outperform rating and $32 price target.