Rocket Pharmaceuticals (NASDAQ:RCKT) Price Target Raised to $52.00

Rocket Pharmaceuticals (NASDAQ:RCKT) had its price objective raised by Scotiabank from $51.00 to $52.00 in a research note published on Monday morning,Benzinga reports. The firm currently has a sector outperform rating on the biotechnology company’s stock.

Several other research analysts have also commented on RCKT. Wedbush began coverage on shares of Rocket Pharmaceuticals in a report on Monday, December 30th. They issued an “outperform” rating and a $32.00 price target on the stock. Leerink Partners cut their price target on shares of Rocket Pharmaceuticals from $46.00 to $44.00 and set an “outperform” rating on the stock in a report on Tuesday, November 19th. Canaccord Genuity Group cut their price target on shares of Rocket Pharmaceuticals from $39.00 to $36.00 and set a “buy” rating on the stock in a report on Monday. Jefferies Financial Group began coverage on shares of Rocket Pharmaceuticals in a research report on Wednesday, December 18th. They issued a “buy” rating and a $29.00 price objective for the company. Finally, Chardan Capital lowered their price objective on shares of Rocket Pharmaceuticals from $62.00 to $54.00 and set a “buy” rating for the company in a research report on Friday, February 28th. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $42.30.

Rocket Pharmaceuticals Trading Up 6.4 %

NASDAQ RCKT opened at $9.21 on Monday. Rocket Pharmaceuticals has a one year low of $8.25 and a one year high of $28.73. The company’s 50 day moving average price is $10.78 and its 200 day moving average price is $14.52. The company has a debt-to-equity ratio of 0.06, a quick ratio of 6.05 and a current ratio of 6.05. The firm has a market capitalization of $839.56 million, a price-to-earnings ratio of -3.35 and a beta of 0.98.

Rocket Pharmaceuticals (NASDAQ:RCKT) last posted its quarterly earnings results on Monday, March 3rd. The biotechnology company reported ($0.62) EPS for the quarter, beating the consensus estimate of ($0.68) by $0.06. On average, sell-side analysts predict that Rocket Pharmaceuticals will post -2.83 EPS for the current year.

Institutional Trading of Rocket Pharmaceuticals

A number of hedge funds have recently made changes to their positions in RCKT. Covestor Ltd grew its position in shares of Rocket Pharmaceuticals by 33,166.7% during the fourth quarter. Covestor Ltd now owns 1,996 shares of the biotechnology company’s stock worth $25,000 after buying an additional 1,990 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Rocket Pharmaceuticals by 21.5% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,292 shares of the biotechnology company’s stock worth $61,000 after buying an additional 582 shares in the last quarter. Signaturefd LLC boosted its holdings in Rocket Pharmaceuticals by 319.8% in the fourth quarter. Signaturefd LLC now owns 4,916 shares of the biotechnology company’s stock worth $62,000 after purchasing an additional 3,745 shares during the period. Harbour Investments Inc. increased its stake in Rocket Pharmaceuticals by 51.9% during the fourth quarter. Harbour Investments Inc. now owns 5,385 shares of the biotechnology company’s stock valued at $68,000 after purchasing an additional 1,840 shares during the last quarter. Finally, KBC Group NV increased its stake in Rocket Pharmaceuticals by 159.6% during the fourth quarter. KBC Group NV now owns 5,475 shares of the biotechnology company’s stock valued at $69,000 after purchasing an additional 3,366 shares during the last quarter. 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.