Rocket Pharmaceuticals (NASDAQ:RCKT) Stock Rating Reaffirmed by Chardan Capital

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Chardan Capital restated their buy rating on shares of Rocket Pharmaceuticals (NASDAQ:RCKT) in a research note published on Friday, TipRanks reports. They currently have a $30.00 target price on the biotechnology company’s stock.

A number of other research firms have also recently weighed in on RCKT. Oppenheimer lowered their price target on Rocket Pharmaceuticals from $39.00 to $37.00 and set an outperform rating on the stock in a report on Tuesday, August 13th. Piper Jaffray Companies initiated coverage on Rocket Pharmaceuticals in a report on Thursday, September 26th. They set an overweight rating for the company. Robert W. Baird boosted their target price on Rocket Pharmaceuticals from $30.00 to $41.00 and gave the stock an outperform rating in a research report on Friday. Cowen reissued a buy rating on shares of Rocket Pharmaceuticals in a report on Sunday, November 17th. Finally, Zacks Investment Research cut Rocket Pharmaceuticals from a buy rating to a hold rating in a research report on Saturday, October 26th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company currently has an average rating of Buy and a consensus price target of $31.50.

Shares of RCKT opened at $22.37 on Friday. The company has a current ratio of 11.07, a quick ratio of 11.07 and a debt-to-equity ratio of 0.20. The firm’s 50-day moving average is $15.56 and its two-hundred day moving average is $13.98. Rocket Pharmaceuticals has a twelve month low of $10.75 and a twelve month high of $24.42. The firm has a market capitalization of $1.13 billion, a P/E ratio of -11.83 and a beta of 2.78.

Rocket Pharmaceuticals (NASDAQ:RCKT) last posted its quarterly earnings results on Thursday, November 7th. The biotechnology company reported ($0.38) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.49) by $0.11. Analysts predict that Rocket Pharmaceuticals will post -1.68 EPS for the current year.

A number of hedge funds have recently bought and sold shares of RCKT. Metropolitan Life Insurance Co NY increased its position in Rocket Pharmaceuticals by 43.4% during the third quarter. Metropolitan Life Insurance Co NY now owns 10,616 shares of the biotechnology company’s stock worth $124,000 after buying an additional 3,213 shares in the last quarter. Eventide Asset Management LLC lifted its position in shares of Rocket Pharmaceuticals by 42.3% in the third quarter. Eventide Asset Management LLC now owns 1,415,000 shares of the biotechnology company’s stock valued at $16,485,000 after acquiring an additional 420,686 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of Rocket Pharmaceuticals by 1,107.4% during the third quarter. Tower Research Capital LLC TRC now owns 4,250 shares of the biotechnology company’s stock valued at $50,000 after acquiring an additional 3,898 shares during the last quarter. Comerica Bank boosted its stake in shares of Rocket Pharmaceuticals by 35.2% during the third quarter. Comerica Bank now owns 28,155 shares of the biotechnology company’s stock valued at $363,000 after acquiring an additional 7,329 shares during the last quarter. Finally, California Public Employees Retirement System purchased a new stake in Rocket Pharmaceuticals during the 3rd quarter worth about $168,000. 96.26% of the stock is currently owned by hedge funds and other institutional investors.

Rocket Pharmaceuticals Company Profile

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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