Rocket Pharmaceuticals (NASDAQ:RCKT) Coverage Initiated at Scotiabank

Scotiabank began coverage on shares of Rocket Pharmaceuticals (NASDAQ:RCKT) in a research note issued to investors on Wednesday, MarketBeat.com reports. The firm issued a sector outperform rating and a $50.00 target price on the biotechnology company’s stock.

RCKT has been the topic of a number of other research reports. Chardan Capital reaffirmed a “buy” rating and issued a $62.00 price objective on shares of Rocket Pharmaceuticals in a report on Tuesday, August 6th. Needham & Company LLC restated a “buy” rating and set a $52.00 price objective on shares of Rocket Pharmaceuticals in a research report on Tuesday, September 17th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $38.00 target price on shares of Rocket Pharmaceuticals in a research report on Monday, September 30th. JPMorgan Chase & Co. lifted their price objective on shares of Rocket Pharmaceuticals from $50.00 to $54.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 6th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $65.00 price target on shares of Rocket Pharmaceuticals in a report on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $51.75.

Rocket Pharmaceuticals Stock Performance

Rocket Pharmaceuticals stock opened at $18.82 on Wednesday. The company has a market cap of $1.71 billion, a price-to-earnings ratio of -6.56 and a beta of 1.09. The company has a debt-to-equity ratio of 0.05, a current ratio of 7.79 and a quick ratio of 7.79. Rocket Pharmaceuticals has a 12 month low of $15.98 and a 12 month high of $32.53. The stock’s 50-day moving average is $18.55 and its 200-day moving average is $21.25.

Rocket Pharmaceuticals (NASDAQ:RCKT) last issued its quarterly earnings results on Monday, August 5th. The biotechnology company reported ($0.74) EPS for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.02). During the same quarter in the previous year, the firm earned ($0.82) earnings per share. Equities analysts anticipate that Rocket Pharmaceuticals will post -2.97 earnings per share for the current year.

Institutional Trading of Rocket Pharmaceuticals

Hedge funds have recently added to or reduced their stakes in the business. Harbour Capital Advisors LLC raised its position in Rocket Pharmaceuticals by 48.4% in the 3rd quarter. Harbour Capital Advisors LLC now owns 53,690 shares of the biotechnology company’s stock valued at $992,000 after buying an additional 17,510 shares during the last quarter. Mirador Capital Partners LP bought a new position in Rocket Pharmaceuticals during the third quarter worth $310,000. SG Americas Securities LLC acquired a new position in Rocket Pharmaceuticals in the 3rd quarter valued at about $113,000. Dana Investment Advisors Inc. lifted its holdings in Rocket Pharmaceuticals by 4.4% during the 2nd quarter. Dana Investment Advisors Inc. now owns 13,847 shares of the biotechnology company’s stock worth $298,000 after purchasing an additional 586 shares during the last quarter. Finally, Novo Holdings A S increased its position in Rocket Pharmaceuticals by 4.8% during the 2nd quarter. Novo Holdings A S now owns 1,100,000 shares of the biotechnology company’s stock worth $23,683,000 after buying an additional 50,000 shares during the period. Institutional investors and hedge funds own 98.39% of the company’s stock.

Rocket Pharmaceuticals Company Profile

Rocket Pharmaceuticals, Inc, together with its subsidiaries, operates as a late-stage biotechnology company that focuses on developing gene therapies for rare and devastating diseases. It has three clinical-stage ex vivo lentiviral vector programs for fanconi anemia, a genetic defect in the bone marrow that reduces production of blood cells or promotes the production of faulty blood cells; leukocyte adhesion deficiency-I, a genetic disorder that causes the immune system to malfunction; and pyruvate kinase deficiency, a rare red blood cell autosomal recessive disorder that results in chronic non-spherocytic hemolytic anemia.