Rocket Pharmaceuticals (NASDAQ:RCKT) Receives Buy Rating from Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Rocket Pharmaceuticals (NASDAQ:RCKT) in a report released on Tuesday morning,Benzinga reports. Needham & Company LLC currently has a $52.00 target price on the biotechnology company’s stock.

A number of other equities analysts have also weighed in on RCKT. Scotiabank started coverage on shares of Rocket Pharmaceuticals in a research report on Wednesday, October 16th. They issued a “sector outperform” rating and a $50.00 price target for the company. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $38.00 target price on shares of Rocket Pharmaceuticals in a report on Monday, September 30th. JPMorgan Chase & Co. increased their price target on Rocket Pharmaceuticals from $50.00 to $54.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 6th. Cantor Fitzgerald restated an “overweight” rating and issued a $65.00 price objective on shares of Rocket Pharmaceuticals in a research report on Tuesday, August 6th. Finally, Chardan Capital reaffirmed a “buy” rating and issued a $62.00 price objective on shares of Rocket Pharmaceuticals in a research note on Monday, November 18th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $51.00.

Rocket Pharmaceuticals Trading Up 10.3 %

Shares of NASDAQ:RCKT opened at $14.11 on Tuesday. The stock has a 50 day moving average of $17.26 and a 200 day moving average of $19.93. The company has a market cap of $1.29 billion, a PE ratio of -5.14 and a beta of 1.09. Rocket Pharmaceuticals has a 12-month low of $12.62 and a 12-month high of $32.53. 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

Large investors have recently made changes to their positions in the company. Wellington Management Group LLP boosted 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 valued at $207,642,000 after buying an additional 2,086,424 shares during the last quarter. Janus Henderson Group PLC raised its holdings in shares of Rocket Pharmaceuticals by 174.3% during the 1st quarter. Janus Henderson Group PLC now owns 2,606,016 shares of the biotechnology company’s stock worth $70,170,000 after acquiring an additional 1,656,111 shares in the last quarter. State Street Corp boosted its position in shares of Rocket Pharmaceuticals by 11.6% during the 3rd quarter. State Street Corp now owns 3,102,022 shares of the biotechnology company’s stock valued at $57,294,000 after acquiring an additional 322,156 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings 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 valued at $79,290,000 after purchasing an additional 314,086 shares in the last quarter. Finally, First Turn Management LLC increased its position in 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 during the last quarter. 98.39% of the stock is owned by institutional investors.

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.