Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) have received a consensus recommendation of “Moderate Buy” from the twelve analysts that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $47.27.

A number of research firms have weighed in on RCKT. Jefferies Financial Group began coverage on Rocket Pharmaceuticals in a research note on Wednesday, December 18th. They issued a “buy” rating and a $29.00 price target for the company. 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. Cantor Fitzgerald restated an “overweight” rating and issued a $65.00 price target on shares of Rocket Pharmaceuticals in a research note on Tuesday, November 19th. Leerink Partners reduced their target price on Rocket Pharmaceuticals from $46.00 to $44.00 and set an “outperform” rating for the company in a research note on Tuesday, November 19th. Finally, Chardan Capital reiterated a “buy” rating and set a $62.00 target price on shares of Rocket Pharmaceuticals in a research note on Monday, November 18th.

Rocket Pharmaceuticals Stock Down 3.7 %

RCKT stock opened at $10.47 on Monday. The company has a quick ratio of 6.05, a current ratio of 6.05 and a debt-to-equity ratio of 0.06. The business has a 50 day moving average price of $11.10 and a two-hundred day moving average price of $15.05. The company has a market cap of $954.45 million, a price-to-earnings ratio of -3.81 and a beta of 0.98. Rocket Pharmaceuticals has a twelve month low of $9.33 and a twelve month high of $31.47.

Institutional Trading of Rocket Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in RCKT. Wellington Management Group LLP boosted its stake 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 Rocket Pharmaceuticals in the 4th quarter valued at $32,267,000. Janus Henderson Group PLC boosted its stake in 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 period. Point72 Asset Management L.P. boosted its stake in 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 period. Finally, Boxer Capital Management LLC bought a new stake in Rocket Pharmaceuticals in the 4th quarter valued at $18,428,000. 98.39% of the stock is currently owned by institutional investors.

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.