Rocket Pharmaceuticals’ (RCKT) Buy Rating Reiterated at Needham & Company LLC

Rocket Pharmaceuticals (NASDAQ:RCKT)‘s stock had its “buy” rating reiterated by Needham & Company LLC in a research report issued on Tuesday,Benzinga reports. They currently have a $52.00 price target on the biotechnology company’s stock. Needham & Company LLC’s target price would indicate a potential upside of 280.67% from the stock’s current price.

A number of other equities analysts have also commented on the stock. Scotiabank started coverage on shares of Rocket Pharmaceuticals in a report on Wednesday, October 16th. They issued a “sector outperform” rating and a $50.00 price target on the stock. Canaccord Genuity Group reissued a “buy” rating and set a $38.00 price target on shares of Rocket Pharmaceuticals in a research report on Monday, September 30th. Chardan Capital reaffirmed a “buy” rating and issued a $62.00 target price on shares of Rocket Pharmaceuticals in a report on Monday. JPMorgan Chase & Co. boosted their target price on shares of Rocket Pharmaceuticals from $50.00 to $54.00 and gave the company an “overweight” rating in a research report on Tuesday, August 6th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $65.00 price target on shares of Rocket Pharmaceuticals in a report on Tuesday, August 6th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, Rocket Pharmaceuticals currently has an average rating of “Moderate Buy” and an average target price of $51.75.

Rocket Pharmaceuticals Trading Down 2.3 %

NASDAQ:RCKT opened at $13.66 on Tuesday. Rocket Pharmaceuticals has a one year low of $13.39 and a one year high of $32.53. The company has a debt-to-equity ratio of 0.06, a current ratio of 6.05 and a quick ratio of 6.05. The firm has a 50-day moving average of $17.63 and a 200-day moving average of $20.10. The company has a market cap of $1.25 billion, a PE ratio of -4.97 and a beta of 1.09.

Institutional Investors Weigh In On Rocket Pharmaceuticals

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. boosted its position in Rocket Pharmaceuticals by 21.5% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,292 shares of the biotechnology company’s stock worth $61,000 after acquiring an additional 582 shares during the period. Nisa Investment Advisors LLC boosted its position in shares of Rocket Pharmaceuticals by 31.9% in the 2nd quarter. Nisa Investment Advisors LLC now owns 3,160 shares of the biotechnology company’s stock valued at $68,000 after purchasing an additional 764 shares during the period. Values First Advisors Inc. acquired a new position in shares of Rocket Pharmaceuticals in the 3rd quarter valued at $108,000. SG Americas Securities LLC purchased a new stake in Rocket Pharmaceuticals in the 3rd quarter worth about $113,000. Finally, XTX Topco Ltd purchased a new stake in Rocket Pharmaceuticals in the 3rd quarter worth about $286,000. 98.39% of the stock is currently owned by hedge funds and other institutional investors.

About Rocket Pharmaceuticals

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.