Rocket Pharmaceuticals’ (RCKT) Buy Rating Reiterated at William Blair

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William Blair reissued their buy rating on shares of Rocket Pharmaceuticals (NASDAQ:RCKT) in a research note issued to investors on Tuesday, TipRanks reports.

A number of other equities research analysts have also issued reports on RCKT. Oppenheimer dropped their price target on Rocket Pharmaceuticals from $39.00 to $37.00 and set an outperform rating for the company in a research report on Tuesday, August 13th. ValuEngine upgraded Rocket Pharmaceuticals from a hold rating to a buy rating in a research report on Thursday, August 1st. Finally, Zacks Investment Research upgraded Rocket Pharmaceuticals from a hold rating to a buy rating and set a $13.00 price objective for the company in a research report on Tuesday, August 13th. Ten equities research analysts have rated the stock with a buy rating, Rocket Pharmaceuticals has an average rating of Buy and an average target price of $28.00.

NASDAQ RCKT traded up $0.24 on Tuesday, reaching $14.33. 431 shares of the stock traded hands, compared to its average volume of 246,688. The company has a debt-to-equity ratio of 0.18, a quick ratio of 17.48 and a current ratio of 17.48. The company has a fifty day moving average price of $11.68 and a 200-day moving average price of $15.34. The company has a market cap of $716.98 million, a price-to-earnings ratio of -7.53 and a beta of 2.71. Rocket Pharmaceuticals has a 12 month low of $10.75 and a 12 month high of $25.96.

Rocket Pharmaceuticals (NASDAQ:RCKT) last issued its earnings results on Wednesday, August 7th. The biotechnology company reported ($0.38) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.48) by $0.10. As a group, research analysts anticipate that Rocket Pharmaceuticals will post -1.82 earnings per share for the current fiscal year.

Institutional investors have recently modified their holdings of the stock. BlackRock Inc. lifted its stake in Rocket Pharmaceuticals by 21.1% during the second quarter. BlackRock Inc. now owns 2,563,600 shares of the biotechnology company’s stock worth $38,455,000 after purchasing an additional 447,257 shares in the last quarter. Cormorant Asset Management LP lifted its stake in Rocket Pharmaceuticals by 22.0% during the second quarter. Cormorant Asset Management LP now owns 2,074,595 shares of the biotechnology company’s stock worth $31,119,000 after purchasing an additional 374,595 shares in the last quarter. Perceptive Advisors LLC lifted its stake in Rocket Pharmaceuticals by 331.6% during the second quarter. Perceptive Advisors LLC now owns 1,977,412 shares of the biotechnology company’s stock worth $29,661,000 after purchasing an additional 1,519,239 shares in the last quarter. Vanguard Group Inc. lifted its stake in Rocket Pharmaceuticals by 18.6% during the second quarter. Vanguard Group Inc. now owns 1,502,349 shares of the biotechnology company’s stock worth $22,536,000 after purchasing an additional 235,411 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake in Rocket Pharmaceuticals by 24.7% during the second quarter. Price T Rowe Associates Inc. MD now owns 1,172,946 shares of the biotechnology company’s stock worth $17,594,000 after purchasing an additional 232,542 shares in the last quarter. Institutional investors own 97.15% of the company’s stock.

About Rocket Pharmaceuticals

Rocket Pharmaceuticals, Inc, together with its subsidiaries, operates as a multi-platform biotechnology company that focuses on developing gene therapies for rare and devastating pediatric diseases. It has clinical-stage lentiviral vector (LVV) programs under clinical testing to treat fanconi anemia, a genetic defect in the bone marrow that reduces production of blood cells or promotes the production of faulty blood cells; and leukocyte adhesion deficiency-I, a genetic disorder that causes the immune system to malfunction It also has additional pre-clinical stage LVV programs include pyruvate kinase deficiency, a rare red blood cell autosomal recessive disorder that results in chronic non-spherocytic hemolytic anemia; and infantile malignant osteopetrosis, a genetic disorder characterized by increased bone density and bone mass secondary to impaired bone resorption.

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Analyst Recommendations for Rocket Pharmaceuticals (NASDAQ:RCKT)

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