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

Needham & Company LLC reiterated their buy rating on shares of Rocket Pharmaceuticals (NASDAQ:RCKT) in a research note released on Tuesday,Benzinga reports. Needham & Company LLC currently has a $52.00 price objective on the biotechnology company’s stock.

RCKT has been the subject of a number of other research reports. Scotiabank assumed coverage on Rocket Pharmaceuticals in a research report on Wednesday, October 16th. They issued a “sector outperform” rating and a $50.00 price target for the company. Chardan Capital reiterated a “buy” rating and issued a $62.00 price target on shares of Rocket Pharmaceuticals in a research report on Monday. Canaccord Genuity Group restated a “buy” rating and set a $38.00 price objective on shares of Rocket Pharmaceuticals in a research report on Monday, September 30th. Cantor Fitzgerald restated an “overweight” rating and set a $65.00 price objective on shares of Rocket Pharmaceuticals in a research report on Tuesday, August 6th. Finally, JPMorgan Chase & Co. raised their price objective on Rocket Pharmaceuticals from $50.00 to $54.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 6th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Rocket Pharmaceuticals presently has an average rating of “Moderate Buy” and an average price target of $51.00.

Rocket Pharmaceuticals Trading Down 3.7 %

NASDAQ:RCKT opened at $13.16 on Tuesday. The company has a quick ratio of 6.05, a current ratio of 6.05 and a debt-to-equity ratio of 0.06. Rocket Pharmaceuticals has a 1-year low of $13.07 and a 1-year high of $32.53. The firm has a market capitalization of $1.20 billion, a price-to-earnings ratio of -4.79 and a beta of 1.09. The stock has a fifty day simple moving average of $17.50 and a 200 day simple moving average of $20.03.

Institutional Investors Weigh In On Rocket Pharmaceuticals

Institutional investors have recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Rocket Pharmaceuticals by 21.5% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,292 shares of the biotechnology company’s stock worth $61,000 after purchasing an additional 582 shares during the last quarter. Dana Investment Advisors Inc. lifted its holdings in Rocket Pharmaceuticals by 4.4% in the 2nd quarter. Dana Investment Advisors Inc. now owns 13,847 shares of the biotechnology company’s stock worth $298,000 after purchasing an additional 586 shares during the last quarter. Nisa Investment Advisors LLC lifted its holdings in Rocket Pharmaceuticals by 31.9% in the 2nd quarter. Nisa Investment Advisors LLC now owns 3,160 shares of the biotechnology company’s stock worth $68,000 after purchasing an additional 764 shares during the last quarter. ProShare Advisors LLC lifted its holdings in Rocket Pharmaceuticals by 9.1% in the 1st quarter. ProShare Advisors LLC now owns 17,614 shares of the biotechnology company’s stock worth $475,000 after purchasing an additional 1,468 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Rocket Pharmaceuticals by 1.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 119,633 shares of the biotechnology company’s stock worth $2,210,000 after purchasing an additional 1,561 shares during the last quarter. 98.39% of the stock is currently owned by institutional investors and hedge funds.

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.