Analysts Set Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) Price Target at $52.00

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) has earned an average recommendation of “Moderate Buy” from the ten research firms that are presently covering the company, MarketBeat reports. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $51.75.

A number of equities analysts recently commented on the company. Cantor Fitzgerald restated an “overweight” rating and set a $65.00 target price on shares of Rocket Pharmaceuticals in a report on Tuesday, August 6th. Canaccord Genuity Group reiterated a “buy” rating and set a $38.00 price target on shares of Rocket Pharmaceuticals in a research report on Monday, September 30th. Scotiabank began coverage on shares of Rocket Pharmaceuticals in a report on Wednesday. They issued a “sector outperform” rating and a $50.00 price objective for the company. JPMorgan Chase & Co. upped their target price on Rocket Pharmaceuticals from $50.00 to $54.00 and gave the stock an “overweight” rating in a report on Tuesday, August 6th. Finally, Chardan Capital restated a “buy” rating and issued a $62.00 target price on shares of Rocket Pharmaceuticals in a research note on Tuesday, August 6th.

Institutional Investors Weigh In On Rocket Pharmaceuticals

Several institutional investors and hedge funds have recently made changes to their positions in RCKT. Dana Investment Advisors Inc. boosted its stake in Rocket Pharmaceuticals by 4.4% during the 2nd quarter. Dana Investment Advisors Inc. now owns 13,847 shares of the biotechnology company’s stock valued at $298,000 after purchasing an additional 586 shares during the last quarter. Nisa Investment Advisors LLC increased its holdings in Rocket Pharmaceuticals by 31.9% in the 2nd quarter. Nisa Investment Advisors LLC now owns 3,160 shares of the biotechnology company’s stock worth $68,000 after buying an additional 764 shares in the last quarter. Jennison Associates LLC increased its holdings in Rocket Pharmaceuticals by 3.5% in the 1st quarter. Jennison Associates LLC now owns 26,783 shares of the biotechnology company’s stock worth $722,000 after buying an additional 903 shares in the last quarter. Nordea Investment Management AB raised its position in Rocket Pharmaceuticals by 0.8% in the 1st quarter. Nordea Investment Management AB now owns 154,070 shares of the biotechnology company’s stock worth $4,140,000 after buying an additional 1,209 shares during the last quarter. Finally, ProShare Advisors LLC lifted its stake in Rocket Pharmaceuticals by 9.1% during the 1st quarter. ProShare Advisors LLC now owns 17,614 shares of the biotechnology company’s stock valued at $475,000 after acquiring an additional 1,468 shares during the period. Institutional investors own 98.39% of the company’s stock.

Rocket Pharmaceuticals Price Performance

Shares of Rocket Pharmaceuticals stock opened at $18.43 on Tuesday. The company’s fifty day simple moving average is $18.55 and its two-hundred day simple moving average is $21.25. Rocket Pharmaceuticals has a 12-month low of $15.98 and a 12-month high of $32.53. The firm has a market cap of $1.67 billion, a PE ratio of -6.42 and a beta of 1.09. The company has a quick ratio of 7.79, a current ratio of 7.79 and a debt-to-equity ratio of 0.05.

Rocket Pharmaceuticals (NASDAQ:RCKT) last posted its earnings results on Monday, August 5th. The biotechnology company reported ($0.74) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.72) by ($0.02). During the same period in the prior year, the company earned ($0.82) earnings per share. As a group, equities analysts expect that Rocket Pharmaceuticals will post -2.97 EPS for the current year.

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.