Chardan Capital Reaffirms Buy Rating for Rocket Pharmaceuticals (NASDAQ:RCKT)

Chardan Capital reissued their buy rating on shares of Rocket Pharmaceuticals (NASDAQ:RCKT) in a report released on Monday,Benzinga reports. The brokerage currently has a $62.00 price target on the biotechnology company’s stock.

Several other analysts have also recently weighed in on RCKT. Needham & Company LLC reissued a “buy” rating and issued a $52.00 price objective on shares of Rocket Pharmaceuticals in a research note on Friday. JPMorgan Chase & Co. upped their price target on Rocket Pharmaceuticals from $50.00 to $54.00 and gave the company an “overweight” rating in a research report on Tuesday, August 6th. Canaccord Genuity Group restated a “buy” rating and set a $38.00 price objective on shares of Rocket Pharmaceuticals in a research report on Monday, September 30th. Scotiabank started coverage on Rocket Pharmaceuticals in a report on Wednesday, October 16th. They issued a “sector outperform” rating and a $50.00 target price on the stock. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $65.00 target price on shares of Rocket Pharmaceuticals in a research report on Tuesday, August 6th. One analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, Rocket Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.75.

Rocket Pharmaceuticals Stock Down 3.4 %

NASDAQ:RCKT opened at $16.86 on Monday. Rocket Pharmaceuticals has a one year low of $15.98 and a one year high of $32.53. The company has a debt-to-equity ratio of 0.05, a current ratio of 7.79 and a quick ratio of 7.79. The company has a market cap of $1.53 billion, a PE ratio of -6.13 and a beta of 1.09. The firm’s 50 day simple moving average is $18.00 and its 200 day simple moving average is $20.36.

Institutional Trading of Rocket Pharmaceuticals

Several hedge funds have recently modified their holdings of the stock. Westfield Capital Management Co. LP grew its holdings in Rocket Pharmaceuticals by 1.1% in the first quarter. Westfield Capital Management Co. LP now owns 3,984,030 shares of the biotechnology company’s stock worth $107,330,000 after purchasing an additional 42,171 shares during the period. Maverick Capital Ltd. grew its stake in shares of Rocket Pharmaceuticals by 1.0% in the 2nd quarter. Maverick Capital Ltd. now owns 3,928,312 shares of the biotechnology company’s stock valued at $84,577,000 after buying an additional 40,000 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of Rocket Pharmaceuticals by 11.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,943,160 shares of the biotechnology company’s stock valued at $79,290,000 after buying an additional 314,086 shares during the period. Janus Henderson Group PLC increased its position in Rocket Pharmaceuticals by 174.3% in the 1st quarter. Janus Henderson Group PLC now owns 2,606,016 shares of the biotechnology company’s stock valued at $70,170,000 after buying an additional 1,656,111 shares in the last quarter. Finally, Novo Holdings A S raised its stake in Rocket Pharmaceuticals by 4.8% during the 2nd quarter. Novo Holdings A S now owns 1,100,000 shares of the biotechnology company’s stock worth $23,683,000 after buying an additional 50,000 shares during the period. Institutional investors 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.