Chardan Capital Issues Pessimistic Forecast for Rocket Pharmaceuticals (NASDAQ:RCKT) Stock Price

Rocket Pharmaceuticals (NASDAQ:RCKT) had its price target cut by Chardan Capital from $62.00 to $54.00 in a report released on Friday,Benzinga reports. They currently have a buy rating on the biotechnology company’s stock.

Other equities research analysts have also issued reports about the stock. Canaccord Genuity Group restated a “buy” rating and set a $39.00 target price on shares of Rocket Pharmaceuticals in a research report on Tuesday, November 19th. 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 report on Friday. Wedbush initiated coverage on shares of Rocket Pharmaceuticals in a research report on Monday, December 30th. They set an “outperform” rating and a $32.00 target price on the stock. Cantor Fitzgerald restated an “overweight” rating and set a $65.00 target price on shares of Rocket Pharmaceuticals in a research report on Tuesday, November 19th. Finally, Jefferies Financial Group initiated coverage on shares of Rocket Pharmaceuticals in a research report on Wednesday, December 18th. They set a “buy” rating and a $29.00 target price on the stock. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $45.64.

Rocket Pharmaceuticals Stock Performance

Shares of RCKT opened at $9.45 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 stock has a market capitalization of $861.43 million, a P/E ratio of -3.44 and a beta of 0.98. The company’s fifty day moving average is $10.94 and its two-hundred day moving average is $14.78. Rocket Pharmaceuticals has a 1 year low of $8.94 and a 1 year high of $31.24.

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

Institutional Investors Weigh In On Rocket Pharmaceuticals

Institutional investors and hedge funds have recently made changes to their positions in the business. Covestor Ltd boosted its position in shares of Rocket Pharmaceuticals by 33,166.7% in the 4th quarter. Covestor Ltd now owns 1,996 shares of the biotechnology company’s stock worth $25,000 after buying an additional 1,990 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in Rocket Pharmaceuticals by 21.5% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,292 shares of the biotechnology company’s stock valued at $61,000 after purchasing an additional 582 shares during the last quarter. Signaturefd LLC raised its stake in Rocket Pharmaceuticals by 319.8% in the 4th quarter. Signaturefd LLC now owns 4,916 shares of the biotechnology company’s stock valued at $62,000 after purchasing an additional 3,745 shares during the last quarter. Harbour Investments Inc. raised its stake in Rocket Pharmaceuticals by 51.9% in the 4th quarter. Harbour Investments Inc. now owns 5,385 shares of the biotechnology company’s stock valued at $68,000 after purchasing an additional 1,840 shares during the last quarter. Finally, KBC Group NV raised its stake in Rocket Pharmaceuticals by 159.6% in the 4th quarter. KBC Group NV now owns 5,475 shares of the biotechnology company’s stock valued at $69,000 after purchasing an additional 3,366 shares during the last quarter. 98.39% of the stock is currently owned by hedge funds and other 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.