Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) Receives $47.27 Consensus Price Target from Analysts

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) has received an average rating of “Moderate Buy” from the twelve ratings firms that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating on the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $47.27.

Several equities research analysts have issued reports on the stock. Cantor Fitzgerald restated an “overweight” rating and set a $65.00 price objective on shares of Rocket Pharmaceuticals in a research report on Tuesday, November 19th. Needham & Company LLC restated a “buy” rating and issued a $52.00 price target on shares of Rocket Pharmaceuticals in a research note on Tuesday, November 19th. Chardan Capital reaffirmed a “buy” rating and issued a $62.00 price objective on shares of Rocket Pharmaceuticals in a report on Monday, November 18th. Canaccord Genuity Group reissued a “buy” rating and set a $39.00 target price on shares of Rocket Pharmaceuticals in a report on Tuesday, November 19th. Finally, Wedbush initiated coverage on shares of Rocket Pharmaceuticals in a research note on Monday, December 30th. They issued an “outperform” rating and a $32.00 price target on the stock.

Hedge Funds Weigh In On Rocket Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the company. Wellington Management Group LLP boosted its position in shares of Rocket Pharmaceuticals by 24.5% during the 4th quarter. Wellington Management Group LLP now owns 13,995,177 shares of the biotechnology company’s stock worth $175,919,000 after acquiring an additional 2,753,033 shares in the last quarter. Suvretta Capital Management LLC acquired a new stake in shares of Rocket Pharmaceuticals in the 4th quarter valued at $32,267,000. Janus Henderson Group PLC increased its stake in shares of Rocket Pharmaceuticals by 111.0% in the 4th quarter. Janus Henderson Group PLC now owns 4,004,039 shares of the biotechnology company’s stock valued at $50,343,000 after purchasing an additional 2,106,699 shares during the last quarter. Point72 Asset Management L.P. increased its stake in shares of Rocket Pharmaceuticals by 3,163.9% in the 4th quarter. Point72 Asset Management L.P. now owns 1,569,823 shares of the biotechnology company’s stock valued at $19,733,000 after purchasing an additional 1,521,727 shares during the last quarter. Finally, Boxer Capital Management LLC acquired a new position in shares of Rocket Pharmaceuticals during the 4th quarter worth $18,428,000. 98.39% of the stock is currently owned by institutional investors and hedge funds.

Rocket Pharmaceuticals Stock Performance

NASDAQ RCKT opened at $10.92 on Monday. The stock has a market cap of $995.47 million, a PE ratio of -3.97 and a beta of 0.98. The company has a debt-to-equity ratio of 0.06, a quick ratio of 6.05 and a current ratio of 6.05. The firm has a 50-day moving average of $11.17 and a 200-day moving average of $15.15. Rocket Pharmaceuticals has a 52-week low of $9.33 and a 52-week high of $31.47.

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.