Rocket Pharmaceuticals (NASDAQ:RCKT) Given “Buy” Rating at Canaccord Genuity Group

Canaccord Genuity Group reissued their buy rating on shares of Rocket Pharmaceuticals (NASDAQ:RCKT) in a report issued on Tuesday,Benzinga reports. They currently have a $39.00 price objective on the biotechnology company’s stock.

Several other research analysts have also recently weighed in on RCKT. Chardan Capital restated a “buy” rating and issued a $62.00 price objective on shares of Rocket Pharmaceuticals in a research report on Monday. JPMorgan Chase & Co. raised their price target on Rocket Pharmaceuticals from $50.00 to $54.00 and gave the company an “overweight” rating in a report on Tuesday, August 6th. Cantor Fitzgerald reissued an “overweight” rating and set a $65.00 price objective on shares of Rocket Pharmaceuticals in a report on Tuesday. Needham & Company LLC reaffirmed a “buy” rating and issued a $52.00 target price on shares of Rocket Pharmaceuticals in a research note on Tuesday. Finally, Scotiabank began coverage on shares of Rocket Pharmaceuticals in a report on Wednesday, October 16th. They issued a “sector outperform” rating and a $50.00 price objective on the stock. One equities research 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. According to MarketBeat.com, Rocket Pharmaceuticals has a consensus rating of “Moderate Buy” and an average price target of $51.00.

Rocket Pharmaceuticals Trading Down 0.3 %

RCKT opened at $13.00 on Tuesday. Rocket Pharmaceuticals has a 1-year low of $12.62 and a 1-year high of $32.53. The firm has a 50-day moving average price of $17.38 and a two-hundred day moving average price of $19.98. The stock has a market capitalization of $1.19 billion, a PE ratio of -4.73 and a beta of 1.09. The company has a current ratio of 6.05, a quick ratio of 6.05 and a debt-to-equity ratio of 0.06.

Institutional Investors Weigh In On Rocket Pharmaceuticals

Several large investors have recently modified their holdings of the business. Geode Capital Management LLC grew its holdings in shares of Rocket Pharmaceuticals by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,617,866 shares of the biotechnology company’s stock valued at $29,888,000 after acquiring an additional 14,256 shares in the last quarter. Main Management ETF Advisors LLC acquired a new stake in shares of Rocket Pharmaceuticals in the third quarter valued at approximately $602,000. XTX Topco Ltd bought a new stake in shares of Rocket Pharmaceuticals during the 3rd quarter valued at $286,000. Wellington Management Group LLP grew its stake in Rocket Pharmaceuticals by 22.8% during the third quarter. Wellington Management Group LLP now owns 11,242,144 shares of the biotechnology company’s stock worth $207,642,000 after buying an additional 2,086,424 shares in the last quarter. Finally, Sphera Funds Management LTD. boosted its position in shares of Rocket Pharmaceuticals by 12.0% during the 3rd quarter. Sphera Funds Management LTD. now owns 231,792 shares of the biotechnology company’s stock worth $4,281,000 after acquiring an additional 24,859 shares in the last quarter. 98.39% of the stock is currently owned by institutional investors.

Rocket Pharmaceuticals Company Profile

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.