Chardan Capital Reaffirms Buy Rating for Rocket Pharmaceuticals (NASDAQ:RCKT)

by · The Markets Daily

Rocket Pharmaceuticals (NASDAQ:RCKT – Get Free Report)‘s stock had its “buy” rating reissued by equities research analysts at Chardan Capital in a note issued to investors on Monday,Benzinga reports. They presently have a $62.00 price target on the biotechnology company’s stock. Chardan Capital’s price target would suggest a potential upside of 267.73% from the company’s previous close.

Several other equities research analysts also recently weighed in on RCKT. Scotiabank assumed coverage on shares of Rocket Pharmaceuticals in a research note on Wednesday, October 16th. They issued a “sector outperform” rating and a $50.00 target price on the stock. Canaccord Genuity Group reissued a “buy” rating and issued a $38.00 price target on shares of Rocket Pharmaceuticals in a report on Monday, September 30th. Cantor Fitzgerald reissued an “overweight” rating and set a $65.00 price target on shares of Rocket Pharmaceuticals in a research report on Tuesday, August 6th. Needham & Company LLC reaffirmed a “buy” rating and issued a $52.00 price objective on shares of Rocket Pharmaceuticals in a report on Friday. Finally, JPMorgan Chase & Co. raised their price target on shares of Rocket Pharmaceuticals from $50.00 to $54.00 and gave the company an “overweight” rating in a research note on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $51.75.

Check Out Our Latest Research Report on Rocket Pharmaceuticals

Rocket Pharmaceuticals Stock Performance

Shares of RCKT stock traded down $0.59 on Monday, reaching $16.86. The stock had a trading volume of 919,085 shares, compared to its average volume of 778,902. Rocket Pharmaceuticals has a 1 year low of $15.98 and a 1 year high of $32.53. The company has a 50 day simple moving average of $18.04 and a 200 day simple moving average of $20.40. The company has a debt-to-equity ratio of 0.05, a quick ratio of 7.79 and a current ratio of 7.79. The stock has a market cap of $1.53 billion, a P/E ratio of -6.13 and a beta of 1.09.

Institutional Trading of Rocket Pharmaceuticals

A number of institutional investors and hedge funds have recently made changes to their positions in RCKT. Intech Investment Management LLC acquired a new stake in Rocket Pharmaceuticals during the 3rd quarter worth about $527,000. Jennison Associates LLC boosted its stake in Rocket Pharmaceuticals by 33.2% during the third quarter. Jennison Associates LLC now owns 40,740 shares of the biotechnology company’s stock worth $752,000 after buying an additional 10,162 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Rocket Pharmaceuticals during the 3rd quarter worth approximately $636,000. First Turn Management LLC raised its stake in shares of Rocket Pharmaceuticals by 10.8% in the third quarter. First Turn Management LLC now owns 621,306 shares of the biotechnology company’s stock valued at $11,476,000 after acquiring an additional 60,317 shares during the last quarter. Finally, Pier 88 Investment Partners LLC raised its position in Rocket Pharmaceuticals by 5.1% in the 3rd quarter. Pier 88 Investment Partners LLC now owns 32,490 shares of the biotechnology company’s stock worth $600,000 after purchasing an additional 1,590 shares during the last quarter. 98.39% of the stock is currently owned by institutional investors and hedge funds.

Rocket Pharmaceuticals Company Profile

(Get Free Report)

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.

Recommended Stories