Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) have been assigned an average recommendation of “Moderate Buy” from the ten analysts that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $51.75.

A number of brokerages have recently weighed in on RCKT. Chardan Capital reiterated a “buy” rating and set a $62.00 target price on shares of Rocket Pharmaceuticals in a research note on Tuesday, August 6th. JPMorgan Chase & Co. increased their target price on Rocket Pharmaceuticals from $50.00 to $54.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 6th. Canaccord Genuity Group reiterated a “buy” rating and set a $38.00 target price on shares of Rocket Pharmaceuticals in a research note on Monday, September 30th. Scotiabank began coverage on Rocket Pharmaceuticals in a research note on Wednesday. They set a “sector outperform” rating and a $50.00 target price on the stock. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $65.00 target price on shares of Rocket Pharmaceuticals in a research note on Tuesday, August 6th.

Hedge Funds Weigh In On Rocket Pharmaceuticals

Several hedge funds and other institutional investors have recently modified their holdings of the business. Dana Investment Advisors Inc. increased its stake in shares of Rocket Pharmaceuticals by 4.4% in the 2nd quarter. Dana Investment Advisors Inc. now owns 13,847 shares of the biotechnology company’s stock valued at $298,000 after purchasing an additional 586 shares during the last quarter. Nisa Investment Advisors LLC increased its stake in shares of Rocket Pharmaceuticals by 31.9% in the 2nd quarter. Nisa Investment Advisors LLC now owns 3,160 shares of the biotechnology company’s stock valued at $68,000 after purchasing an additional 764 shares during the last quarter. Jennison Associates LLC increased its stake in shares of Rocket Pharmaceuticals by 3.5% in the 1st quarter. Jennison Associates LLC now owns 26,783 shares of the biotechnology company’s stock valued at $722,000 after purchasing an additional 903 shares during the last quarter. Nordea Investment Management AB increased its stake in shares of Rocket Pharmaceuticals by 0.8% in the 1st quarter. Nordea Investment Management AB now owns 154,070 shares of the biotechnology company’s stock valued at $4,140,000 after purchasing an additional 1,209 shares during the last quarter. Finally, ProShare Advisors LLC increased its stake in shares of Rocket Pharmaceuticals by 9.1% in the 1st quarter. ProShare Advisors LLC now owns 17,614 shares of the biotechnology company’s stock valued at $475,000 after purchasing an additional 1,468 shares during the last quarter. Institutional investors own 98.39% of the company’s stock.

Rocket Pharmaceuticals Stock Performance

RCKT opened at $18.82 on Tuesday. Rocket Pharmaceuticals has a 12-month low of $15.98 and a 12-month high of $32.53. The stock has a market cap of $1.71 billion, a price-to-earnings ratio of -6.56 and a beta of 1.09. The business has a 50 day moving average of $18.54 and a 200-day moving average of $21.19. The company has a quick ratio of 7.79, a current ratio of 7.79 and a debt-to-equity ratio of 0.05.

Rocket Pharmaceuticals (NASDAQ:RCKT) last released its quarterly earnings data on Monday, August 5th. The biotechnology company reported ($0.74) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.02). During the same quarter in the prior year, the business earned ($0.82) earnings per share. On average, equities research analysts expect that Rocket Pharmaceuticals will post -2.97 earnings per share for the current year.

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.