Rocket Pharmaceuticals (NASDAQ:RCKT) Price Target Lowered to $36.00 at Canaccord Genuity Group

Rocket Pharmaceuticals (NASDAQ:RCKT) had its price target decreased by Canaccord Genuity Group from $39.00 to $36.00 in a research report released on Monday,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the biotechnology company’s stock.

A number of other equities research analysts have also recently commented on RCKT. Needham & Company LLC decreased their target price on shares of Rocket Pharmaceuticals from $52.00 to $42.00 and set a “buy” rating on the stock in a research note on Friday, February 28th. Wedbush started coverage on shares of Rocket Pharmaceuticals in a research note on Monday, December 30th. They set an “outperform” rating and a $32.00 target price on the stock. Leerink Partners decreased their target price on shares of Rocket Pharmaceuticals from $46.00 to $44.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 19th. Jefferies Financial Group started coverage on shares of Rocket Pharmaceuticals in a research report on Wednesday, December 18th. They set a “buy” rating and a $29.00 price objective on the stock. Finally, Chardan Capital reduced their price objective on shares of Rocket Pharmaceuticals from $62.00 to $54.00 and set a “buy” rating on the stock in a research report on Friday, February 28th. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $42.30.

Rocket Pharmaceuticals Stock Performance

RCKT opened at $9.21 on Monday. The company has a current ratio of 6.05, a quick ratio of 6.05 and a debt-to-equity ratio of 0.06. The company has a market cap of $839.56 million, a price-to-earnings ratio of -3.35 and a beta of 0.98. The company’s 50 day moving average is $10.78 and its 200 day moving average is $14.52. Rocket Pharmaceuticals has a 12-month low of $8.25 and a 12-month high of $28.73.

Rocket Pharmaceuticals (NASDAQ:RCKT) last released its earnings results on Monday, March 3rd. The biotechnology company reported ($0.62) EPS for the quarter, topping analysts’ consensus estimates of ($0.68) by $0.06. On average, equities research analysts predict that Rocket Pharmaceuticals will post -2.83 EPS for the current year.

Institutional Investors Weigh In On Rocket Pharmaceuticals

Several large investors have recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. boosted its stake in Rocket Pharmaceuticals by 21.5% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,292 shares of the biotechnology company’s stock worth $61,000 after buying an additional 582 shares during the period. Harbor Capital Advisors Inc. boosted its stake in Rocket Pharmaceuticals by 73.5% during the third quarter. Harbor Capital Advisors Inc. now owns 168,506 shares of the biotechnology company’s stock worth $3,112,000 after buying an additional 71,372 shares during the period. Privium Fund Management B.V. boosted its stake in Rocket Pharmaceuticals by 17.5% during the third quarter. Privium Fund Management B.V. now owns 294,800 shares of the biotechnology company’s stock worth $5,445,000 after buying an additional 43,820 shares during the period. Pier 88 Investment Partners LLC boosted its stake in Rocket Pharmaceuticals by 5.1% during the third quarter. Pier 88 Investment Partners LLC now owns 32,490 shares of the biotechnology company’s stock worth $600,000 after buying an additional 1,590 shares during the period. Finally, First Turn Management LLC boosted its stake in Rocket Pharmaceuticals by 10.8% during the third quarter. First Turn Management LLC now owns 621,306 shares of the biotechnology company’s stock worth $11,476,000 after buying an additional 60,317 shares during the period. 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.