Chardan Capital Reaffirms Buy Rating for Rocket Pharmaceuticals (NASDAQ:RCKT)

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

Several other equities analysts have also recently weighed in on RCKT. Canaccord Genuity Group reiterated a “buy” rating and issued a $38.00 price target on shares of Rocket Pharmaceuticals in a research report on Monday, September 30th. Needham & Company LLC reaffirmed a “buy” rating and set a $52.00 target price on shares of Rocket Pharmaceuticals in a report on Friday, November 8th. JPMorgan Chase & Co. increased their price target on shares of Rocket Pharmaceuticals from $50.00 to $54.00 and gave the stock an “overweight” rating in a report on Tuesday, August 6th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $65.00 price objective on shares of Rocket Pharmaceuticals in a research note on Tuesday, August 6th. Finally, Scotiabank initiated 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. One analyst has rated the stock with a sell rating, one has given a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.00.

Rocket Pharmaceuticals Stock Down 0.3 %

RCKT opened at $13.00 on Monday. Rocket Pharmaceuticals has a 12 month low of $12.62 and a 12 month high of $32.53. The company has a market cap of $1.19 billion, a PE ratio of -4.73 and a beta of 1.09. 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 50 day moving average of $17.38 and a 200 day moving average of $19.98.

Institutional Investors Weigh In On Rocket Pharmaceuticals

A number of hedge funds and other institutional investors have recently modified their holdings of RCKT. ProShare Advisors LLC boosted its position in Rocket Pharmaceuticals by 9.1% during the 1st 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 period. Price T Rowe Associates Inc. MD raised its position in Rocket Pharmaceuticals by 11.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,943,160 shares of the biotechnology company’s stock valued at $79,290,000 after purchasing an additional 314,086 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in Rocket Pharmaceuticals by 174.3% in the 1st quarter. Janus Henderson Group PLC now owns 2,606,016 shares of the biotechnology company’s stock worth $70,170,000 after buying an additional 1,656,111 shares during the period. Harbor Capital Advisors Inc. grew its position in shares of Rocket Pharmaceuticals by 19.3% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 97,134 shares of the biotechnology company’s stock worth $2,091,000 after buying an additional 15,708 shares during the last quarter. Finally, Nisa Investment Advisors LLC increased its stake in shares of Rocket Pharmaceuticals by 31.9% during the second quarter. Nisa Investment Advisors LLC now owns 3,160 shares of the biotechnology company’s stock valued at $68,000 after buying an additional 764 shares during the period. Institutional investors own 98.39% of the company’s stock.

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.