Analysts Set Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) PT at $43.00

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) has been given an average recommendation of “Moderate Buy” by the twelve ratings firms that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $43.00.

RCKT has been the subject of several recent research reports. Canaccord Genuity Group dropped their target price on shares of Rocket Pharmaceuticals from $39.00 to $36.00 and set a “buy” rating for the company in a report on Monday, March 3rd. Chardan Capital dropped their target price on shares of Rocket Pharmaceuticals from $62.00 to $54.00 and set a “buy” rating for the company in a report on Friday, February 28th. Needham & Company LLC decreased their price target on shares of Rocket Pharmaceuticals from $52.00 to $42.00 and set a “buy” rating on the stock in a research note on Friday, February 28th. The Goldman Sachs Group decreased their price target on shares of Rocket Pharmaceuticals from $29.00 to $15.00 and set a “neutral” rating on the stock in a research note on Monday, March 3rd. Finally, Leerink Partners decreased their price target on shares of Rocket Pharmaceuticals from $46.00 to $44.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 19th.

Rocket Pharmaceuticals Stock Performance

NASDAQ:RCKT opened at $8.35 on Friday. The company has a current ratio of 6.05, a quick ratio of 6.05 and a debt-to-equity ratio of 0.06. The firm has a 50-day moving average price of $10.06 and a two-hundred day moving average price of $13.79. Rocket Pharmaceuticals has a twelve month low of $8.06 and a twelve month high of $28.67. The company has a market capitalization of $890.36 million, a P/E ratio of -3.04 and a beta of 1.03.

Rocket Pharmaceuticals (NASDAQ:RCKT) last posted its earnings results on Monday, March 3rd. The biotechnology company reported ($0.62) earnings per share for the quarter, beating the consensus estimate of ($0.68) by $0.06. As a group, research analysts expect that Rocket Pharmaceuticals will post -2.83 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Rocket Pharmaceuticals

Several hedge funds have recently modified their holdings of RCKT. Wellington Management Group LLP boosted its position in shares of Rocket Pharmaceuticals by 24.5% in the fourth quarter. Wellington Management Group LLP now owns 13,995,177 shares of the biotechnology company’s stock worth $175,919,000 after acquiring an additional 2,753,033 shares during the last quarter. Suvretta Capital Management LLC acquired a new position in Rocket Pharmaceuticals during the fourth quarter valued at approximately $32,267,000. Janus Henderson Group PLC lifted its position in Rocket Pharmaceuticals by 111.0% during the fourth quarter. Janus Henderson Group PLC now owns 4,004,039 shares of the biotechnology company’s stock valued at $50,343,000 after buying an additional 2,106,699 shares in the last quarter. Point72 Asset Management L.P. lifted its position in Rocket Pharmaceuticals by 3,163.9% during the fourth quarter. Point72 Asset Management L.P. now owns 1,569,823 shares of the biotechnology company’s stock valued at $19,733,000 after buying an additional 1,521,727 shares in the last quarter. Finally, Boxer Capital Management LLC acquired a new position in Rocket Pharmaceuticals during the fourth quarter valued at approximately $18,428,000. 98.39% of the stock is 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.