Rocket Pharmaceuticals (NASDAQ:RCKT – Get Free Report)‘s stock had its “buy” rating reiterated by analysts at Chardan Capital in a report released on Monday,Benzinga reports. They currently have a $62.00 price objective on the biotechnology company’s stock. Chardan Capital’s price objective would suggest a potential upside of 286.77% from the stock’s current price.
Other research analysts have also recently issued reports about the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $52.00 target price on shares of Rocket Pharmaceuticals in a report on Friday, November 8th. JPMorgan Chase & Co. upped their price objective on Rocket Pharmaceuticals from $50.00 to $54.00 and gave the company an “overweight” rating in a research report on Tuesday, August 6th. Scotiabank initiated coverage on Rocket Pharmaceuticals in a research note on Wednesday, October 16th. They issued a “sector outperform” rating and a $50.00 price target for the company. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $65.00 price objective on shares of Rocket Pharmaceuticals in a research report on Tuesday, August 6th. Finally, Canaccord Genuity Group reissued a “buy” rating and issued a $38.00 target price on shares of Rocket Pharmaceuticals in a research report on Monday, September 30th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $51.75.
Read Our Latest Analysis on Rocket Pharmaceuticals
Rocket Pharmaceuticals Price Performance
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently modified their holdings of RCKT. Janus Henderson Group PLC lifted its position in Rocket Pharmaceuticals by 174.3% during the first quarter. Janus Henderson Group PLC now owns 2,606,016 shares of the biotechnology company’s stock valued at $70,170,000 after purchasing an additional 1,656,111 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Rocket Pharmaceuticals by 11.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,943,160 shares of the biotechnology company’s stock worth $79,290,000 after purchasing an additional 314,086 shares during the period. First Turn Management LLC increased its stake in shares of Rocket Pharmaceuticals by 123.6% in the second quarter. First Turn Management LLC now owns 560,989 shares of the biotechnology company’s stock worth $12,078,000 after purchasing an additional 310,119 shares in the last quarter. Westfield Capital Management Co. LP raised its position in shares of Rocket Pharmaceuticals by 3.8% during the 3rd quarter. Westfield Capital Management Co. LP now owns 4,493,833 shares of the biotechnology company’s stock valued at $83,001,000 after purchasing an additional 165,911 shares during the period. Finally, Renaissance Technologies LLC bought a new position in Rocket Pharmaceuticals in the 2nd quarter worth $2,144,000. Hedge funds and other 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.
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