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

Rocket Pharmaceuticals (NASDAQ:RCKTGet 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

Shares of NASDAQ:RCKT opened at $16.03 on Monday. The business has a fifty day moving average price of $17.96 and a 200-day moving average price of $20.32. 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 capitalization of $1.46 billion, a PE ratio of -5.83 and a beta of 1.09. Rocket Pharmaceuticals has a 1-year low of $15.92 and a 1-year high of $32.53.

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

(Get Free Report)

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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