Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) Receives $47.27 Consensus PT from Analysts

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

Several analysts have commented on RCKT shares. Wedbush started coverage on Rocket Pharmaceuticals in a report on Monday, December 30th. They issued an “outperform” rating and a $32.00 price target for the company. Leerink Partners lowered their price target on Rocket Pharmaceuticals from $46.00 to $44.00 and set an “outperform” rating for the company in a report on Tuesday, November 19th. Chardan Capital reiterated a “buy” rating and set a $62.00 target price on shares of Rocket Pharmaceuticals in a report on Monday, November 18th. Jefferies Financial Group assumed coverage on Rocket Pharmaceuticals in a report on Wednesday, December 18th. They set a “buy” rating and a $29.00 target price for the company. Finally, Canaccord Genuity Group reiterated a “buy” rating and set a $39.00 target price on shares of Rocket Pharmaceuticals in a report on Tuesday, November 19th.

Hedge Funds Weigh In On Rocket Pharmaceuticals

Several hedge funds and other institutional investors have recently bought and sold shares of RCKT. Wellington Management Group LLP lifted its position in Rocket Pharmaceuticals by 24.5% during the 4th quarter. Wellington Management Group LLP now owns 13,995,177 shares of the biotechnology company’s stock worth $175,919,000 after acquiring an additional 2,753,033 shares in the last quarter. Suvretta Capital Management LLC acquired a new position in Rocket Pharmaceuticals during the 4th quarter worth approximately $32,267,000. Janus Henderson Group PLC raised its position in shares of 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 in the last quarter. Point72 Asset Management L.P. raised its position in shares of 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 in the last quarter. Finally, Boxer Capital Management LLC acquired a new position in shares of Rocket Pharmaceuticals in the 4th quarter valued at approximately $18,428,000. 98.39% of the stock is owned by institutional investors and hedge funds.

Rocket Pharmaceuticals Stock Down 3.7 %

RCKT opened at $10.47 on Monday. The company has a debt-to-equity ratio of 0.06, a current ratio of 6.05 and a quick ratio of 6.05. The stock has a market capitalization of $954.41 million, a price-to-earnings ratio of -3.81 and a beta of 0.99. The business has a 50-day moving average of $11.10 and a two-hundred day moving average of $14.99. Rocket Pharmaceuticals has a 12 month low of $9.33 and a 12 month high of $31.47.

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.