Rocket Pharmaceuticals (NASDAQ:RCKT) Earns “Buy” Rating from Chardan Capital

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

A number of other equities research analysts also recently issued reports on RCKT. JPMorgan Chase & Co. increased their price objective on Rocket Pharmaceuticals from $50.00 to $54.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 6th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $65.00 price target on shares of Rocket Pharmaceuticals in a report on Tuesday, August 6th. Needham & Company LLC reissued a “buy” rating and set a $52.00 price objective on shares of Rocket Pharmaceuticals in a report on Friday, November 8th. Scotiabank started coverage on shares of Rocket Pharmaceuticals in a research note on Wednesday, October 16th. They issued a “sector outperform” rating and a $50.00 target price on the stock. Finally, Canaccord Genuity Group reiterated a “buy” rating and set a $38.00 target price on shares of Rocket Pharmaceuticals in a research report on Monday, September 30th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $51.75.

Rocket Pharmaceuticals Price Performance

Shares of NASDAQ:RCKT opened at $13.66 on Monday. Rocket Pharmaceuticals has a 12 month low of $13.39 and a 12 month high of $32.53. The company has a current ratio of 6.05, a quick ratio of 7.79 and a debt-to-equity ratio of 0.06. The stock has a market cap of $1.25 billion, a P/E ratio of -4.97 and a beta of 1.09. The company has a 50 day moving average of $17.63 and a 200 day moving average of $20.10.

Hedge Funds Weigh In On Rocket Pharmaceuticals

Institutional investors and hedge funds have recently made changes to their positions in the business. ProShare Advisors LLC grew its stake in shares of Rocket Pharmaceuticals by 9.1% during the first quarter. ProShare Advisors LLC now owns 17,614 shares of the biotechnology company’s stock valued at $475,000 after buying an additional 1,468 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in 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 worth $79,290,000 after purchasing an additional 314,086 shares during the period. Janus Henderson Group PLC lifted its position in Rocket Pharmaceuticals by 174.3% in 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 during the last quarter. Harbor Capital Advisors Inc. boosted its stake in shares of Rocket Pharmaceuticals by 19.3% during the second quarter. Harbor Capital Advisors Inc. now owns 97,134 shares of the biotechnology company’s stock valued at $2,091,000 after purchasing an additional 15,708 shares during the period. Finally, Nisa Investment Advisors LLC grew its holdings in shares of Rocket Pharmaceuticals by 31.9% in the second quarter. Nisa Investment Advisors LLC now owns 3,160 shares of the biotechnology company’s stock worth $68,000 after purchasing an additional 764 shares during the last quarter. 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.