Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) have been assigned an average rating of “Moderate Buy” from the ten analysts that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $51.75.

RCKT has been the topic of several recent analyst reports. Cantor Fitzgerald reiterated an “overweight” rating and issued a $65.00 target price on shares of Rocket Pharmaceuticals in a report on Tuesday, August 6th. 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. Chardan Capital restated a “buy” rating and set a $62.00 price objective on shares of Rocket Pharmaceuticals in a report on Tuesday, August 6th. Scotiabank started 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 for the company. Finally, JPMorgan Chase & Co. lifted their target price on Rocket Pharmaceuticals from $50.00 to $54.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 6th.

Institutional Investors Weigh In On Rocket Pharmaceuticals

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

Rocket Pharmaceuticals Stock Performance

RCKT opened at $17.62 on Tuesday. 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 company has a market cap of $1.60 billion, a PE ratio of -6.14 and a beta of 1.09. The stock has a 50-day moving average of $18.52 and a 200-day moving average of $21.08. Rocket Pharmaceuticals has a 52-week low of $15.98 and a 52-week high of $32.53.

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

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.