Brokerages Set Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) Price Target at $43.00

Shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) have earned an average rating of “Moderate Buy” from the twelve ratings firms that are presently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $43.00.

Several equities research analysts have recently issued reports on the stock. Wedbush assumed coverage on shares of Rocket Pharmaceuticals in a research note on Monday, December 30th. They set an “outperform” rating and a $32.00 price target for the company. Cantor Fitzgerald restated an “overweight” rating and set a $65.00 price target on shares of Rocket Pharmaceuticals in a research note on Tuesday, November 19th. The Goldman Sachs Group decreased their price target on shares of Rocket Pharmaceuticals from $29.00 to $15.00 and set a “neutral” rating for the company in a research note on Monday, March 3rd. Chardan Capital decreased their price target on shares of Rocket Pharmaceuticals from $62.00 to $54.00 and set a “buy” rating for the company in a research note on Friday, February 28th. Finally, Jefferies Financial Group began coverage on shares of Rocket Pharmaceuticals in a research note on Wednesday, December 18th. They set a “buy” rating and a $29.00 price target for the company.

Institutional Inflows and Outflows

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

Rocket Pharmaceuticals Trading Up 3.1 %

NASDAQ:RCKT opened at $8.76 on Friday. 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 market cap of $934.08 million, a price-to-earnings ratio of -3.19 and a beta of 1.03. Rocket Pharmaceuticals has a 52 week low of $8.06 and a 52 week high of $28.67. The firm has a 50-day moving average price of $10.22 and a two-hundred day moving average price of $13.94.

Rocket Pharmaceuticals (NASDAQ:RCKT) last posted its quarterly earnings data on Monday, March 3rd. The biotechnology company reported ($0.62) EPS for the quarter, beating the consensus estimate of ($0.68) by $0.06. On average, equities analysts expect that Rocket Pharmaceuticals will post -2.83 earnings per share for the current fiscal year.

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.