Rocket Pharmaceuticals (NASDAQ:RCKT) Coverage Initiated by Analysts at Scotiabank

Investment analysts at Scotiabank began coverage on shares of Rocket Pharmaceuticals (NASDAQ:RCKT) in a research report issued on Wednesday, MarketBeat Ratings reports. The brokerage set a “sector outperform” rating and a $50.00 price target on the biotechnology company’s stock. Scotiabank’s price objective would indicate a potential upside of 171.30% from the company’s current price.

Several other equities research analysts also recently issued reports on RCKT. Cantor Fitzgerald restated an “overweight” rating and set a $65.00 target price on shares of Rocket Pharmaceuticals in a research report on Tuesday, August 6th. Canaccord Genuity Group restated a “buy” rating and issued a $38.00 target price on shares of Rocket Pharmaceuticals in a research note on Monday, September 30th. Needham & Company LLC reiterated a “buy” rating and set a $52.00 price target on shares of Rocket Pharmaceuticals in a research report on Tuesday, September 17th. JPMorgan Chase & Co. raised their price objective 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, Chardan Capital reaffirmed a “buy” rating and set a $62.00 target price 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 given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $51.75.

Rocket Pharmaceuticals Trading Up 2.0 %

Shares of RCKT opened at $18.43 on Wednesday. Rocket Pharmaceuticals has a fifty-two week low of $15.98 and a fifty-two week high of $32.53. The business has a 50-day moving average of $18.55 and a 200 day moving average of $21.25. The firm has a market cap of $1.67 billion, a P/E ratio of -6.42 and a beta of 1.09. The company has a debt-to-equity ratio of 0.05, a quick ratio of 7.79 and a current ratio of 7.79.

Rocket Pharmaceuticals (NASDAQ:RCKT) last posted its earnings results on Monday, August 5th. The biotechnology company reported ($0.74) earnings per share for the quarter, missing the consensus estimate of ($0.72) by ($0.02). During the same period in the previous year, the firm posted ($0.82) EPS. As a group, research analysts forecast that Rocket Pharmaceuticals will post -2.97 EPS for the current year.

Institutional Trading of Rocket Pharmaceuticals

Institutional investors and hedge funds have recently made changes to their positions in the stock. Nisa Investment Advisors LLC grew its position in Rocket Pharmaceuticals by 31.9% in the second quarter. Nisa Investment Advisors LLC now owns 3,160 shares of the biotechnology company’s stock worth $68,000 after acquiring an additional 764 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of Rocket Pharmaceuticals in the 3rd quarter worth about $113,000. Dana Investment Advisors Inc. increased its position in shares of Rocket Pharmaceuticals by 4.4% during the 2nd quarter. Dana Investment Advisors Inc. now owns 13,847 shares of the biotechnology company’s stock valued at $298,000 after purchasing an additional 586 shares during the last quarter. Mirador Capital Partners LP purchased a new position in shares of Rocket Pharmaceuticals during the 3rd quarter valued at about $310,000. Finally, Virtu Financial LLC bought a new stake in Rocket Pharmaceuticals in the 4th quarter worth approximately $332,000. Hedge funds and other institutional investors 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.