The Goldman Sachs Group Cuts Rocket Pharmaceuticals (NASDAQ:RCKT) Price Target to $15.00

Rocket Pharmaceuticals (NASDAQ:RCKT) had its price objective decreased by The Goldman Sachs Group from $29.00 to $15.00 in a research note released on Monday morning,Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the biotechnology company’s stock.

A number of other analysts have also weighed in on the stock. Jefferies Financial Group assumed coverage on shares of Rocket Pharmaceuticals in a research note on Wednesday, December 18th. They issued a “buy” rating and a $29.00 price objective on the stock. Canaccord Genuity Group cut their price objective on shares of Rocket Pharmaceuticals from $39.00 to $36.00 and set a “buy” rating on the stock in a research note on Monday. Scotiabank increased their price objective on shares of Rocket Pharmaceuticals from $51.00 to $52.00 and gave the stock a “sector outperform” rating in a research note on Monday. Chardan Capital cut their price objective on shares of Rocket Pharmaceuticals from $62.00 to $54.00 and set a “buy” rating on the stock in a research note on Friday, February 28th. Finally, Wedbush assumed coverage on shares of Rocket Pharmaceuticals in a research note on Monday, December 30th. They issued an “outperform” rating and a $32.00 price objective on the stock. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $42.30.

Rocket Pharmaceuticals Trading Up 6.4 %

NASDAQ RCKT opened at $9.21 on Monday. The company has a fifty day simple moving average of $10.78 and a two-hundred day simple moving average of $14.52. The stock has a market cap of $839.56 million, a P/E ratio of -3.35 and a beta of 0.98. Rocket Pharmaceuticals has a 12-month low of $8.25 and a 12-month high of $28.73. The company has a current ratio of 6.05, a quick ratio of 6.05 and a debt-to-equity ratio of 0.06.

Rocket Pharmaceuticals (NASDAQ:RCKT) last posted its quarterly earnings results on Monday, March 3rd. The biotechnology company reported ($0.62) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.68) by $0.06. On average, analysts forecast that Rocket Pharmaceuticals will post -2.83 earnings per share for the current year.

Institutional Trading of Rocket Pharmaceuticals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Covestor Ltd grew its position in Rocket Pharmaceuticals by 33,166.7% during the fourth quarter. Covestor Ltd now owns 1,996 shares of the biotechnology company’s stock valued at $25,000 after buying an additional 1,990 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Rocket Pharmaceuticals by 21.5% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,292 shares of the biotechnology company’s stock valued at $61,000 after purchasing an additional 582 shares during the period. Signaturefd LLC grew its position in shares of Rocket Pharmaceuticals by 319.8% in the fourth quarter. Signaturefd LLC now owns 4,916 shares of the biotechnology company’s stock valued at $62,000 after purchasing an additional 3,745 shares during the period. Harbour Investments Inc. grew its position in shares of Rocket Pharmaceuticals by 51.9% in the fourth quarter. Harbour Investments Inc. now owns 5,385 shares of the biotechnology company’s stock valued at $68,000 after purchasing an additional 1,840 shares during the period. Finally, KBC Group NV grew its position in shares of Rocket Pharmaceuticals by 159.6% in the fourth quarter. KBC Group NV now owns 5,475 shares of the biotechnology company’s stock valued at $69,000 after purchasing an additional 3,366 shares during the period. Institutional investors and hedge funds own 98.39% of the company’s stock.

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.